Your PPP loan has been funded. What’s next?
After getting through the major hurdle of getting your Paycheck Protection Program loan funded, you may think the hard work is over. Think again!
SBA guidelines are constantly being refined and final rules have not yet been provided. Effectively managing loan proceeds and maintaining meticulous records are key to maximizing loan forgiveness.
Kerkering Barberio’s Outsourced Accounting advisors are well-equipped to assist PPP borrowers with verification and compliance. We will work closely with you to help make the most of these benefits.
- PPP Loan Funds Planning – We’ll help develop and document requirements for spending and proper allocation of funds. Advising on where funds should be deposited, how to account on general ledger and set-up of processes so funds are used only on eligible expenses (payroll, mortgage interest, rent and utilities).
- Loan Forgiveness Monitoring – We work closely with you to monitor and provide accountability to be certain that spending is appropriate for maximizing loan forgiveness. Tracking and forecasting of current and future spending and recommendations to modify spending to enhance forgiveness.
- Concluding Documentation and Compliance – We’ll assist in assembling required borrower documentation and compliance reporting for lenders and keep you up-to-date with the latest SBA guidelines and rules.
To discuss the options in managing your PPP loan, contact the Kerkering Barberio PPP Loan Forgiveness Advisors.