First Republic Bank (san Francisco, California) · OTC:FRCB
First Republic Bank (san Francisco, California) — First Republic Bank — Investor Presentation (June 2020)
18 slides from First Republic Bank (san Francisco, California)'s investor presentation, Jun 2, 2020
Slide 1: Paycheck Protection Program (PPP): Loan Forgiveness
Important Note: This document is being revised following the Paycheck Protection Program Flexibility Act of 2020 that was signed into law on June 5. Content below may be out of date. We'll provide an update as soon as new guidance is available. Paycheck Protection Program (PPP): Loan Forgiveness 2 J
Slide 2: Contents and Disclaimer
C o n t e n t s Disclaimer 1 2 3 4 5 Setting Milestones & Loan Forgiveness Use of Loan Loan Forgiveness the Stage Timeline Overview Proceeds Concepts and to Maximize Calculation 2 3 Forgiveness A B C This material is provided solely This material is for PPP regulations and the SBA’s for the purpose
Slide 3: Setting the Stage
Setting the Stage The loan forgiveness application and the rules and regulations relating to loan forgiveness under the Paycheck Protection Program are issued by the U.S. Small Business Administration (SBA) and the U.S. Department of Treasury. 4 5 PPP Loan Forgiveness PPP Loan Forgiveness Borrower’s
Slide 4: Loan Forgiveness Milestones & Timeline
Paycheck Protection Program — Loan Forgiveness Milestones & Timeline The timeline below provides key milestones relating to the Paycheck Protection Progam Loan. 8-week “covered period” to track use of loan proceeds 4/13 — Date of 6/8 — Initial requests 10/13 — first PPP loan for loan forgiveness Fir
Slide 5: Use of Loan Proceeds to Maximize Loan Forgiveness
Paycheck Protection Program — Loan Forgiveness Overview Paycheck Protection Program — Use of Loan Proceeds to Maximize Loan Forgiveness Loan proceeds must be used for certain expenses incurred and paid in connection with the borrower’s trade or business during the 8-week covered period. Hover on eac
Slide 6: Loan Forgiveness Concepts
Paycheck Protection Program — Loan Forgiveness Concepts General Requirements for Loan Forgiveness Click on each buttons to Reductions in Amount Eligible for Exemptions to Reductions due view more 10 Loan Forgiveness to Rehires 11 PPP Loan Forgiveness PPP Loan Forgiveness Reductions in Number of Redu
Slide 7: Loan Forgiveness Calculation
Paycheck Protection Program — Loan Forgiveness Calculation Click on each buttons to Payroll Costs view more Forgiveness Amount is 12 Business Mortgage the smallest of: 13 Interest Payments Total Salary/ Total Payroll and FTE Reduction Modified Total PPP Loan Forgiveness PPP Loan Forgiveness Hourly W
Slide 8: Documentation — Loan Forgiveness Application
Paycheck Protection Program Documentation — Loan Forgiveness Application Paycheck Protection Program Documentation — Loan Forgiveness Application Borrower is required to submit Form 3508, Paycheck Protection Program Loan Forgiveness Application, and provide Payroll Expenditures the lender with the f
Slide 9: Loan Forgiveness Checklist: Actions Borrowers Should Consider Today
Loan Forgiveness Checklist: 9 Actions Borrowers Should Consider Today Document payments for mortgage Review and analyze the interest, rent and utilities made SBA’s Loan Forgiveness during the Covered Period. Application. Document payroll and FTEs during Take note of the 8-week 09 01 the Covered Peri
Slide 10: Frequently Asked Questions
18 19 Frequently PPP Loan Forgiveness PPP Loan Forgiveness Asked Questions Subject to change based on further pending guidance from the SBA/Treasury
Slide 11: Frequently Asked Questions
View the Answers here Paycheck Protection Program | Frequently Asked Questions Is a PPP loan the What is the Paycheck How does loan How much can How can I apply for When should I apply? same thing as a Protection Program? forgiveness work? be forgiven? loan forgiveness? small-business grant? 20 21 H
Slide 12: Frequently Asked Questions
View the Answers here Paycheck Protection Program | Frequently Asked Questions What nonpayroll What nonpayroll documentation will I What nonpayroll What are my PPP How long must I If I apply for loan documentation will I need to need to submit with documentation will I need to loan’s terms and retai
Slide 13: Appendix: Loan Forgiveness Examples
Appendix: Loan 24 25 PPP Loan Forgiveness PPP Loan Forgiveness Forgiveness Subject to change based on further pending guidance from the SBA/Treasury Examples
Slide 14: Loan Forgiveness Example
Paycheck Protection Program | Loan Forgiveness Example 1 General requirements Reductions to for loan forgiveness amounts eligible for 200 FTE employees starting Spends all of the loan in January 2020. On March eligibility: loan forgiveness proceeds on payroll costs, 1, 2020, terminates the so the fu
Slide 15: Loan Forgiveness Example
Paycheck Protection Program | Loan Forgiveness Example 2 General requirements Reductions to amounts Spends all of the loan for loan forgiveness eligible for loan Borrows $1 million through the PPP on May 1, proceeds on payroll costs, so eligibility: forgiveness: 200 FTE employees starting the full a
Slide 16: Loan Forgiveness Example
Paycheck Protection Program | Loan Forgiveness Example 3 General requirements Reductions to amounts Spends all of the loan for loan forgiveness eligible for loan Borrows $1 million through the PPP on May 1, proceeds on payroll costs, so eligibility: forgiveness: 200 FTE employees starting the full a
Slide 17: Documentation by Business Type — Loan Forgiveness Application
Paycheck Protection Program | Documentation by Business Type — Loan Forgiveness Application Business Entities Sole Proprietor/Self- Sole Proprietor/ (C-Corp, S-Corp, LLCs Employed/Independent Self-Employed/ taxed as Corporations, Contractor/Single Independent Contractor Single Member LLCs Member LLC
Slide 18: Back
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