Paycheck Protection Program forgiveness
RSM can help clients understand PPP forgiveness
For businesses that have secured or hope to secure funding through the federal Paycheck Protection Program, understanding and calculating loan forgiveness amounts can be a challenge. RSM offers clients a customized approach to help. Your RSM team will gather basic information and use our proprietary process and tools to determine forgiveness based on scenarios you help to define. Serving as your advisor, we will walk you through the calculations and provide insights on your situation.
Our detailed procedures and analysis can help you to ensure that your company maximizes the full amount of loan forgiveness possible. You will receive:
- Summary and highlights of potential issues, uncertainties and planning points
- Insights on how loan forgiveness could affect credits and deferrals
- Live discussion with your client service team exploring your situation
The Coronavirus Aid, Relief and Economic Security (CARES) Act provides options for small and midsize businesses facing liquidity challenges.
The CARES Act, including a proposed main street lending program, offers help to middle market businesses facing challenges from COVID-19.
The Small Business Administration’s new FAQ addresses many issues related to forgiveness of Payroll Protection Program loans.
Federal contractors who participate, or have subcontractors who participate, in the PPP must consider what the funds mean to them.