Ease the Burden of Calculating PPP Loan Forgiveness
If you have received a PPP loan, the next step is to prepare for loan forgiveness.
Millions of businesses across the United States have received forgivable loans through the Paycheck Protection Program (PPP). Fully understanding the PPP loan forgiveness process and certifying that the allocated loan proceeds were used for eligible payroll and non-payroll costs can be tricky and time-consuming. E. Cohen’s team of PPP loan experts can help you navigate the complexities of this step and calculate and maximize loan forgiveness.
Our PPP loan experts are prepared to answer questions such as:
- Is my business required to submit forgiveness documentation?
- Does “full-time equivalent” mean 30 or 40 hours per week?
- Do retirement benefits include only the amounts attributable to the covered period?
- Are owner benefits excluded from forgiveness costs? If so, who is considered an owner under PPP guidelines?
- Are bonuses paid to employees during the covered period includible in the forgiveness amount? If so, does that include bonuses which were accrued before the covered period, but not yet paid?
- Do leases on personal equipment count as rent?
- Can you prepay business expenses—such as rent—and have them included in the forgiveness amount?
As a business owner, restarting and stabilizing your business should be your only priority – ease the burden of calculating PPP loan forgiveness. The E. Cohen team can help you:
We can help you make the most effective use of your loan. Complete the form below to kickstart your PPP loan forgiveness process today!