Paycheck Protection Program Loan Forgiveness for Borrowers

Though federally-sponsored programs responding to COVID-19, including those in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, can be a lifeline to your business, navigating the agreements of such loans is a complicated undertaking.

The Small Business Administration’s (SBA) Paycheck Protection Program (PPP), in particular, requires constant monitoring with frequent changes to guidance on how loan forgiveness is implemented.

If you’ve secured funding, you’ll need to supply significant accounting and other documentation to your lender to request forgiveness of your loan. The goal is to limit your exposure, which requires accurate calculations. Our professionals can help you stay on track with forgiveness obligations so you can focus on your business’ path to recovery.

For lenders looking for support in providing PPP forgiveness to their borrowers, explore our easy-to-use cloud-based solution.

Navigate Your Loan Obligations

As your business works with lenders to monitor loans, our professionals will help guide you along the way with:

  • Updated information regarding the federal funding programs
  • Evaluation assistance for potential loan forgiveness based on alternative business plan scenarios for operating your business
  • Documentation processes for your economic need assessment for the PPP loan under the standard established by the CARES Act and PPP regulations
  • Business advice relating to the PPP loan forgiveness process, including new guidance, government delays in reopening, and market conditions in your industry

Insights


Article
Tax planning and financial reporting are steeped in uncertainty with PPP loan forgiveness due to timing complexities. Here’s what we know.

Article
Explore pros, cons, and other considerations when choosing an eight- or 24-week covered period for your PPP loan.

Alert
If you received a PPP loan with an original amount of less than $2 million, the SBA will presume the loan was requested in good faith. Learn details.

Article
Learn about the rules and ambiguities of calculating and determining loan forgiveness scenarios for PPP loans as well as alternative finance options.

Alert
The SBA clarified long-standing ambiguity on its Paycheck Protection Program loan forgiveness application. Learn more about critical updates.

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