PPP Loan Forgiveness Services
Expert Guidance on Maximizing Forgiveness
Obtaining a Paycheck Protection Program (PPP) loan is complicated but, as many businesses have found, worth the effort. Seeking loan forgiveness, however, might prove to be even more difficult. Specific accounting and reporting of salaries and other eligible costs is required. All eligible expenses must be supported by documentation. Complex calculations and contradictions in the regulations continue to up the ante in an already high-stakes arena.
To understand the process and increase the potential for obtaining loan forgiveness, our specialists deliver expert assistance.
Our Paycheck Protection Program Loan Forgiveness Team has monitored and maintained an up-to-the-minute understanding of federal regulations from the program’s first introduction through its continued evolution.
Expertise Precisely When It Counts
Leveraging extensive experience, we help ensure accurate projections and full compliance with the application requirements. As a result, we are ideally equipped to shepherd you through the steps required for loan clemency: freedom from repaying the PPP funds you received.
Know Greater Value
To ensure a tailored, cost-efficient solution that meets your specific needs, our services are available to you in one of two ways:
- Forgiveness Application Preparation
All organizations can benefit from our assistance applying for forgiveness. The value our program offers can be significant; we prepare your application and:
- Collect documentation that supports the reporting of eligible expenses, such as payroll and benefit records, rent, utilities, mortgage interest, among other data.
- Determine the number of full-time equivalent (FTE) employees; this figure is required to perform an accurate loan forgiveness calculation.
- Compute excess wage reduction amounts, if any, for loan forgiveness calculation.
- Complete and review your final PPP loan forgiveness application before you submit it to the bank or other appropriate entities.
- PPP Loan Forgiveness Consulting
For loan recipients who wish to incorporate advance planning with the goal of maximizing forgiveness potential, we offer advisory services in addition to forgiveness application preparation. Our team may assist in gauging your likely forgiveness amount and helping you formulate strategies for achieving an optimal forgiveness level. On your behalf, our specialists can:
- Assist you in interpreting loan regulations.
- Identify any potential issues or opportunities that might affect loan forgiveness.
- Evaluate your risk profile.
- Develop a spending optimization plan.
- Estimate future cash requirements.
- Weigh possible forgiveness and business continuity tactics.
- Develop an Executive Summary to support strategic business planning and ongoing operations.
Moving Forward: Next Steps
Like our service options, our fees reflect only the support you need. We are pleased to provide an estimate tailored to your specific circumstances. For assistance, please contact your PKF O’Connor Davies relationship manager or email us at: [email protected]