The Paycheck Protection Program (PPP) is intended to offer businesses hurt by the COVID-19 pandemic economic assistance with completely forgivable principal. But to get that full loan forgiveness, recipients must navigate a process with complex rules and calculations, and any forgiveness application errors, documentation missteps, and other lapses mean exposure: A risk of leaving some PPP loan forgiveness on the table.
If you or your business received a PPP loan, CohnReznick is here to assist you with navigating the forgiveness process and calculation. We offer customized assistance with PPP loan forgiveness consulting and support, as well as agreed-upon procedures (AUP) engagements.
We can provide the following services to help ensure proper governance through the PPP loan forgiveness process based on your businesses’ individual needs.
TopicCoronavirus Resource CenterIn addition to devastating health implications, the spread of the Coronavirus (COVID-19) and related market uncertainties are having major impact on financial and operational performance. Explore the content in this resource center and contact one of our professionals to learn how you can manage your business risks and prepare for future disruptions.
InsightFederal Reserve’s new Main Street Lending Program updates include longer loan term, expanded sizeThe Federal Reserve Board has again expanded its Main Street loan program for businesses affected by the COVID-19 coronavirus pandemic. Read our overview.
InsightNew Paycheck Protection Program (PPP) Loan Forgiveness Applications releasedSBA’s new PPP Loan Forgiveness Application packages offer guidance on calculations, documentation, cost caps, and more. Read about the standard and EZ versions.