Paycheck Protection Program (PPP) Loan Forgiveness Assistance

For businesses who have been approved to receive, or have already received funds from the Paycheck Protection Program, the next question to begin addressing is, how will you calculate your loan forgiveness?

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For businesses who have been approved to receive, or have already received funds from the Paycheck Protection Program, the next question to begin addressing is, how will you calculate your loan forgiveness?

The recently enacted CARES act allows for covered loan forgiveness for borrowers who meet certain criteria. This has presented a unique opportunity for businesses to borrow money on very favorable terms — up to 100% of the loan proceeds may be forgiven (for eligible expenses), and in addition, there are no income tax implications.

However, for businesses who have been approved to receive, or have already received funds from the Paycheck Protection Program, the next question to begin addressing is, how will you calculate your loan forgiveness?

The benefits organizations can receive from the loan forgiveness are too important to risk mistakes being made. At blum, we are working with clients to assist them with navigating through compliance requirements of the loan forgiveness program, to ensure forgiveness is received. Our team will work with you to help expedite the loan forgiveness process and provide a reliable and trusted source of information for your lender and the federal government.

Calculating PPP Loan Forgiveness

Our advisory services may look at the following areas to maximize loan forgiveness:

If you would like additional information, please contact us via the form below.

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