Maximizing PPP Loan Forgiveness
Many of you have received funds from the Paycheck Protection Program (PPP) over the last couple weeks. Congratulations – we hope these funds can provide some assistance during these difficult times. In order to maximize forgiveness, you’ll need to:
- Understand the loan forgiveness rules. See PDF below.
- Track your PPP Expenses. See downloadable calculator above.
- Project your costs and run different scenarios to ensure maximum forgiveness
Most businesses will need to be proactive to maximize loan forgiveness. What if your projected non-payroll costs aren’t 25% of your PPP loan; how will you increase payroll costs accordingly? You can analyze different scenarios using our free PPP Loan Forgiveness Tracking Calculator.
PPP Forgiveness Scenario Planning
If you would like TDT to help you evaluate different scenarios and strategies to maximize forgiveness, contact us today. Pricing and solutions are customized to your specific situation. Scenario planning engagements start at $595
If you have any questions regarding the information above, or how COVID-19 is impacting your business, check out our COVID-19 updates page and please don’t hesitate to reach out to a TDT team member.