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Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer
Providing Solutions On Your Path to Innovation
Achieving Success When Selling to the World’s Largest Buyer

COVID-19 Guidance Center

Tax Implications and Financial Business Guidance Regarding the Coronavirus

Federal Tax Reform: Opportunity Zones

Community Revitalization by Rewarding Private Investment

Section 199A Deduction for Pass-Through Entities

A Deduction of Up to 20% of Qualified Business Income

How Can We Guide You?

Cherry Bekaert

COVID-19 SBA Loan Assistance

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Did you receive a loan from the Paycheck Protection Program (“PPP”) and now you want to ask for forgiveness?

See how Cherry Bekaert can guide you through the PPP loan forgiveness documentation process to receive employer payroll loan forgiveness.

The services we anticipate providing are based upon our current understanding of the terms and conditions applicable to the PPP, as set forth in the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The Program, including its related Forgiveness Provisions, is subject to further interpretation and clarification as regulations and guidance are issued by various regulatory agencies, including the U.S. Small Business Administration (“SBA”).

Two Ways Cherry Bekaert Can Assist with
Payroll Protection Loan Forgiveness

Paycheck Protection
Program (PPP) Loan Forgiveness
Claim Consulting

Support to the Client to Include:

General consulting and
guidance to help clients complete
their PPP loan forgiveness package.


Fees

Minimum Fee $1,000 ($500/HR after 2 hours)

Have a question before you sign-up?

Paycheck Protection Program (PPP) Loan Forgiveness Claim Documentation Assistance

Support to the Client to Include:

Phase 1

  • Obtain from you the exact date of PPP loan funding and confirmation of the amount of loan proceeds received by you.
  • Schedule an initial, virtual consultation with you or your designee to review forgiveness requirements and methods that can be utilized to track the use of loan proceeds on allowable expenditures. At this time, we will discuss planning opportunities for maximizing forgiveness.
  • Provide on-going consultation on aspects of loan forgiveness as you may require up to the time of submission of request for forgiveness.
Phase 2

  • At a date that is approximately four (4) weeks subsequent to the receipt of your PPP loan proceeds, schedule another virtual consultation to review your results of tracking of allowable expenditures and begin assessment of whether it is likely you, the borrower, will achieve a sufficient level of allowable expenditures to request a full and complete PPP loan forgiveness.
  • Soon after the conclusion of the eight (8) week period subsequent to PPP loan funding, work with you or your designee to assemble the necessary supporting documentation and related calculations necessary to be submitted to regulators in order to substantiate PPP loan forgiveness, in full or in part.
PPP Loan Size Expected Total Fee Due Upon Execution Due After 4-Week Consultation Due Upon Delivery of Loan Forgiveness Package*
Less than $250,000 $3,500 $1,500 $1,000 $1,000*
$250,000 – $500,000 $5,000 $1,500 $1,750 $1,750*
More than $500,000 $7,500 $2,500 $2,500 $2,500*

Have a question before you sign-up?

Guiding Businesses through the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act Loan Process

Under the Program guidelines currently in place, we will provide consultative services to assist you in understanding relevant aspect of the Economic Injury Disaster Loan (“EIDL”) or PPP loan program. There are numerous factors that can increase the complexity of the application including matters such as whether Client and/or their owners are considered part of an Affiliated Group, whether Client has any non-U.S. based employees, whether the Client may qualify for any exceptions to the 500 employee level (as defined by the Program) during 2019, etc.

The Client will be required to select a qualified SBA lender of their choice or in certain circumstances the Client may use an Agent to assist with securing loan proceeds under the Program. Cherry Bekaert is not acting as an Agent, as defined and determined under the Program. It is Client’s sole and express responsibility to submit Client’s application and/or any required supporting documentation to any lender.

This engagement is in no way a guarantee that the Client’s loan package will be accepted as complete by a SBA participating lender; it is in no way a guarantee that any lender will approve the package or close a loan. We cannot guarantee that the Client will be qualified for loan forgiveness; that decision is at the sole discretion of a SBA participating lender. Our fees are not contingent on the Client obtaining an approval of their loan package or on successfully closing a loan under the PPP program.

Let's Talk About Ways Cherry Bekaert Can Assist
During These Rapidly Changing Times

Assistance with the Paycheck Protection Program Loan Application

Support to the Client to Include:

  • Technical support and guidance for the PPP loan application and questions
  • General checklist of documentation required to support aspects of the loan application.
  • Provide a calculation tool to assist in determination of Average Monthly Payroll and other relevant criteria as the basis for establishment of the Loan Amount to which you may be entitled.
  • Conduct an overview of the Client’s loan package before it is submitted to an SBA lender.

Fees

Business Not-for-Profit
Existing CB Client $2,500 $2,000
New CB Client $3,000 $2,500

Have a question before you sign-up?

Paycheck Protection Program
Loan Consulting

Support to the Client to Include:

Technical support and guidance for the
PPP loan application and questions.

 

Fees

Minimum Fee $1,000 ($500/HR after 2 hours)

Have a question before you sign-up?

Questions on Paycheck Protection Program Services?