The Paycheck Protection Program (PPP) loan forgiveness process has continued to evolve. With the latest legislation, loans under $150,000 will no longer require significant time and resources on the lender’s part. However, this puts the remaining larger loans in the spotlight when it comes to forgiveness. Training your internal team on the forgiveness process takes significant time and effort, and there is an increased risk that comes with this new legislation. Wolf & Company’s PPP Loan Forgiveness Advisory Services can save you valuable time and resources, and provide the help you and your customers need to navigate this unprecedented process.
Wolf’s team will review the forgiveness application and supporting documents to make sure it meets the standards of the U.S. Small Business Administration (SBA) and the requirements of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Partnering with PPP lending institutions, our experts will ensure all submitted documents are accurate and complete, work with the lending team to agree on the final loan forgiveness amount, and prepare data for submission to the SBA.
To provide further direction on these procedures, we also offer an educational webinar for you and your borrowers to help you understand qualifying expenses, meet the requirements of the SBA, and capitalize on all expenses that should be forgiven. In addition, we can provide advisory services to your larger borrowers to ensure they maximize forgiveness.