Paycheck Protection Program (PPP) Solutions

On Friday, June 5, 2020, the President signed into law: H.R. 7010, the Paycheck Protection Program Flexibility Act of 2020. With these permanent changes to the Paycheck Protection Program (PPP), business owners now have extended time and more flexibility in how to achieve greater loan forgiveness.

Baker Tilly can help you navigate the Paycheck Protection Program (PPP)

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.

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: 

  • Complying with the required calculations for the SBA forgiveness application
  • Monitoring utilization of loan proceeds to help maximize forgiveness
  • Agreed upon procedures to support loan forgiveness application
  • Applying for any new SBA loans based on the extended forgiveness windows

Self-service toolkits

These all-encompassing property toolkits assist you with the application, monitoring and compliance phases. These toolkits each contain Excel-based PPP calculators.

Download the PPP loan forgiveness calculator

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Automated service for complying and monitoring loan forgiveness:

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.

Watch a demo of our loan forgiveness automated services

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For more information on these tools or to learn how Baker Tilly specialists can help, reach out to your Baker Tilly professional or contact our team.

Click here if you need help assembling and applying for a loan.

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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.

Template

PPP good faith certification considerations and documentation template

We have developed a template that incorporates the specific good faith certifications PPP borrowers are required to make and provides our initial recommendations as to considerations to be addressed for each certification, as well as our thoughts on documentation to be assembled or prepared in support of each certification.  Although we cannot guarantee that use of this template will be sufficient to satisfy the documentation expectations of lenders or any governmental agency, our professionals are prepared to assist you with your understanding of these matters and provide insights as to the responsiveness of your approach to PPP loan application and forgiveness.