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[quote=Anonymous][quote=Anonymous][quote=Anonymous]The PPP stands for Payroll Protection Program. At least 75% has to pay for employee (staff and coaches) payroll and 25% for utility costs (electricity, water and telecommunications).

There’s no mention of refund of money to customers (parents) in the SBA PPP Bill.

Soccer Leagues and Clubs declaring economic hardship is very easy to prove/justify to their lenders and the SBA.

PP above indicating any clubs that applied for PPP and not refunding the parents could be in trouble is 1000% wrong. [b]Please go read the bill[/b]. [/quote]

PP here who writes about this.

I agree, if you read the bill then it looks fine.  But the interpretation of the bill keeps changing.

If you read the PPP FAQs (that keep changing), the clubs would be in trouble if there is an audit.

The money is intended to be used between the date of loan origination and the following 8-weeks.  The prepaid soccer season lasts longer than the current 8 week limit to use the funds.

Whether the SBA is legally allowed to keep changing the rules of the game and using "vague" terms is another issue.[/quote]

The PPP does need to be used within 8 weeks and if clubs are continuing to pay all staff at the same rate prior to the pandemic, they should be able to spend the majority of it properly to be forgiven. Nowhere in the bill does it say that the money must be spent on payroll they otherwise would not have been able to pay. Only that it needs to be spent on payroll. Additionally, the PPP loan amount is derived from average payroll numbers (most are using 2.5 average monthly payroll from 2019). So again, clubs should be fine to use most of it in the 8 weeks.

You also fail to mention that there is a big push to change the bill to extend the 8 weeks to something longer. I’m not defending any club to not give refunds as I think there are some clubs that most likely should, but I do think you need to present the whole picture especially if you’re someone that is  informed on the subject. [/quote]

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