Payroll Protection Loan: A Complete Breakdown

Dear Clients:

 

Many of you have applied for the PPP Loan. This email is specifically intended for those of you that have applied, have been approved, and have received funding or are expecting funding.

 

Please note, we are aware that many have applied and have not received funding. We are working diligently to stay informed on the potential expansion of the program and how to re-apply.

 

Step 1: What is the PPP Loan and What Expenses Does the PPP Loan Cover.

Click to view the breakdown of the loan and the qualifying expenses related to the loan.

 

Step 2: Now that my application has been approved, what do I need to consider?

Click to view the breakdown on our recommendations for considerations after application approval.

 

Step 3: I have received money PPP funding, what do I do now?

Click to view the breakdown on our recommendations for what to do in the 8 weeks following your receipt of PPP Funds. This includes an accounting recommendation on how to track your funding and expenses specifically related to the PPP loan.

 

Step 4: How do I obtain loan forgiveness?

Click to view our recommendations on how to account for the loan and the loan specific expenses, and the process for applying for loan forgiveness.

 

Step 5: What do I do if I accepted the EIDL Loan in addition to the PPP loan?

Click to view our important information regarding use of funds when accepting the EIDL Loan and the PPP Loan simultaneously.

 

Click Here for a Combined list of all of the steps.