Financial relief through the Coronavirus Aid, Relief, and Economic Security (CARES) Act has been offered to many companies in need in the form of Paycheck Protection Program (PPP) loans. Now, 7(a) lenders face the challenge of analyzing, processing, and making forgiveness decisions within the mandatory 60-day timeline, putting extra stress on financial institutions’ already stretched SBA and underwriting teams.
CohnReznick is here to offer a solution to lenders as they respond to PPP loan forgiveness applications. Our PPP Loan Forgiveness Solutions extend the resources, expertise, and capacity of a lender’s internal team to meet compliance demands. We offer:
- Customizable and scalable solutions: Augment your team with processing and analysis skills to meet deadlines.
- PPP expertise: A dedicated task force with specific skills honed by helping thousands of clients enhances your borrower experience.
- Timely and accurate verification: Proprietary processes and reporting tools and project management transparency deliver no surprises.
- Risk management: Identify risky forgiveness applications for focused case management and resolution.
- A value alternative: Onshore and offshore resources seamlessly collaborate to lower cost-of-service.
Download our guide for full details on what we do and how we can help lenders in each phase of our PPP loan forgiveness platform:
- Technology/process alignment
- Documentation verification
- Data verification
- Case resolution
- Forgiveness decision and notification
Ready to get started? Let us help.
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Looking instead for assistance with your small business’s PPP forgiveness application? Learn about our consulting and AUP services.
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Christopher Aroh
CPA, Partner - Financial Sponsors Industry Leader
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