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. Contact our team.
We can provide the following customized 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.
InsightLoan forgiveness for first-and second-draw PPP loans: What's new?Learn about changes in forgivable costs, covered periods, owner compensation, and more for first- and second-draw Paycheck Protection Program (PPP) loans.
InsightMain Street Lending Program: Catch up on recent expansions, guidance for PPP borrowersRead about MSLP loan options for eligible businesses and nonprofits affected by COVID-19, plus rules around taking MSLP and Paycheck Protection Program loans.
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.