PPP Loan Forgiveness Assistance

6/11/2020 - By Saltmarsh, Cleaveland & Gund

If your business has received a Paycheck Protection Program (PPP) loan from the Small Business Administration (SBA), you may be concerned about meeting the loan forgiveness requirements. While the forgiveness application seems straightforward, we recognize it will be confusing for lenders and borrowers and there will be questions that need to be answered on both sides.

We understand how valuable these funds are and have been closely following applicable guidance on PPP loans and borrower forgiveness. Our team can assist with reviewing forgiveness applications that present questions or need additional analysis and are here to address your questions regarding overall forgiveness.

Here to Help You Navigate the Forgiveness Process

Full-Service Preparation & Review

From start to finish, our team will prepare your loan forgiveness application, collect required supporting documentation and review with you prior to your certification and submission to your lender.

Application & Documentation Review

This level of support includes full access to our technical team for guidance and a comprehensive review of your completed application and supporting documentation prior to your certification and submission to your lender.

Questions & Support

For an hourly fee, our team will be available to answer your questions throughout the forgiveness process, provide guidance on what is considered forgivable and share tools to assist with tracking eligible expenses and supporting documentation.

The Forgiveness Process

Borrower submits completed forgiveness application and supporting documentation to lender
Lender has 60 days to review and determine the amount for forgiveness
Lender notifies the SBA and requests payment of the forgivable loan balance
SBA has 90 days to review and pay lender
Lender will notify borrower of the forgiven amount