Baker Tilly has a comprehensive set of solutions available to assist qualifying businesses that have received, or will receive, loan proceeds that may be eligible for forgiveness under the PPP.
Baker Tilly has launched a new tool to help eligible organizations obtain a PPP loan. The tool is now open and we are providing access free of charge in most situations for our clients and guests.
The tool produces all government forms required to apply for a PPP loan, supports calculations on payroll and other expenses, and produces a master report with the applicant’s electronic signature that can be delivered to the underwriting lender, Biz2Credit. We invite you to get started now.
These tools have been developed pursuant to the guidelines established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Interim Final Rule issued by the Small Business Administration (SBA), and the subsequently issued frequently asked questions.
Our resources can help both borrowers and lenders through the phases of PPP including:
For borrowers with a straightforward PPP loan compliance environment, we have developed a self-service, Excel-based loan forgiveness calculator.
The automated process helps you with assembling qualifying payroll information and the calculations required to compute forgiveness levels, therefore creating the line level build-up of the required information to complete the SBA PPP Loan Forgiveness Application.
Although these resources are based on our most current understanding of the SBA’s intended rules, because the final decision on approval to receive proceeds or the forgiveness of any amount of a PPP loan is solely within the authority of the SBA, use of these resources is not a guarantee that any amount of the loan will be approved or forgiven.