On April 8th, we held a webinar that was focused on the Paycheck Protection Program (PPP). This $349 billion program is designed to help small businesses keep their workers on payroll.

As outlined by the SBA, this program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations or 501(c)(19) veterans organizations affected by the coronavirus/COVID-19.1

Specifically, we covered...

  • Current status of the application process
  • Hints and observations of how to deal with the chaos, timing, processes, etc
  • How to proceed if you don’t have a banking relationship with an approved SBA lender
  • How to calculate the maximum loan amount and what payroll timeline you use
  • Details regarding loan forgiveness
  • What documentation is needed for the application
  • Strategies to navigate the chaos when applying for a PPP loan

about the presenter Andrew Bass, CPA, CWM, PFS

Andrew is the Chief Wealth Officer at Telemus, where he has been a member of the team since its inception in 2005. As the Chief Wealth Officer, Andrew is responsible for all strategic financial and life management services. He works with high-net-worth members to ensure their financial life plans are designed to achieve realistic goals in both the short and long term.

Andrew received his B.B.A. and M.B.A. from the University of Michigan.


about the presenter Richard H. Schloss, JD

As a former accountant and IRS Field Agent, Richard brings to the practice of law the understanding of how finances and taxes affect clients and their day to day decisions. Also, his practice focuses on small to mid-tier family businesses and practices for whom he acts as their general counsel and brings a wealth of knowledge in many areas because of his years of practice. This includes tax planning, general corporate advice, contract review and negotiation, formation of businesses and agreements among business owners, representation in the purchase and sale of businesses, estate planning for all clients both high net worth and not so high net worth, including individuals, couples and business owners, and representation of taxpayers before all taxing authorities.


about the presenter Steven Canup

Steven is the Managing Director of Focus Client Solutions, joining Focus in late 2018 to launch the value-added cash management, loan placement and advisory service for partner firms and their clients. He joined Focus after heading the Institutional & Corporate Banking divisions of two $10 billion+ regional banks. Previously, Steven ran a non-bank trust and lending firm launched in partnership with a large broker-dealer and family office, as well as holding roles in investment banking serving banks, asset management and commercial lending firms. He also managed corporate strategy, product development and investor relations for a large west coast regional bank.


1SBA, Paycheck Protection Program.

PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. This commentary is a matter of opinion and is for informational purposes only. It is not intended as investment advice and does not address or account for individual investor circumstances. Investment decisions should always be made based on the client's specific financial needs, goals and objectives, time horizon and risk tolerance. The statements contained herein are based solely upon the opinions of Telemus Capital, LLC. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Information was obtained from third party sources, which we believe to be reliable, but not guaranteed.

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