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:
Gain confidence that the complex PPP forgiveness calculations have been done correctly, with the right methods. Customized to your needs, our consulting services help support your application and optimize your forgiveness, taking into consideration such items as eligible payroll and non-payroll costs, optimization and calculation of full-time equivalent employees (FTEs), salary computations, rehire exemptions, required documentation, and other items relating to the forgiveness calculation.
Acting in accordance with the American Institute of Certified Public Accountants (AICPA) guidelines, our Assurance team members will conduct procedures relating to your documentation of expenses supporting your PPP loan forgiveness application. These procedures help ensure proper governance and can offer your boards, audit committees, and investors a sense of security.
Ready to get started? Let us help.
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