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
PPP Loan Forgiveness
Support to the Client to Include:
General consulting and
guidance to help clients complete
their PPP loan forgiveness package.
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 ongoing consultation on aspects of loan forgiveness as you may require up to the time of submission of request for forgiveness.
As needed, 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.
Once your covered period has ended, 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.