PPP Loan Forgiveness
Navigating the PPP Loan Forgiveness Process
The Paycheck Protection Program (PPP), originally passed as part of the CARES Act, is a loan program designed to provide businesses impacted by the COVID-19 pandemic access to needed assistance. The low-interest loan is very popular due to the favorable terms and opportunity to receive 100% loan forgiveness. When a borrower spends proceeds on certain expenses such as employee payroll, mortgage interest, rent, or other business-related expenses, 100% forgiveness is possible. The result is a working capital boost that may not have to be repaid.
However, understanding all of the loan application changes and receiving full loan forgiveness is not an easy task. The Small Business Administration (SBA) continues to review and change loan application and forgiveness rules, required calculations, substantiation requirements, and even application forms. The complex calculations and documentation requirements have left many concerned about the risk of missing out on the ability for first or second round lending as well as loan forgiveness due to an incorrect or incomplete application.
Our experienced team stands ready to guide you through the loan application and forgiveness process. We work closely with businesses, partnerships, organizations, and other borrowers to navigate the complex and constantly changing compliance requirements to ensure the correct information is being submitted and the highest amount of forgiveness is received.
PPP Loan Consulting Services
- Interpretation and review of the latest SBA guidance.
- Gross revenue analysis and review for loan funding requirements.
- Detailed analysis of eligible loan expenses.
- Review of required loan forgiveness calculations.
- Assistance compiling the necessary documentation.
- Completion and submission of both the loan and forgiveness applications.
Our team stands ready to assist you through the PPP loan application and forgiveness process. Do not go at it alone. Ensure you are submitting the right information and receiving the highest forgiveness amount possible. Complete the form below and a member of the team will reply promptly.