Loan forgiveness is among the Paycheck Protection Program’s biggest benefits to organizations affected by the COVID-19 pandemic. Recent changes from the Paycheck Protection Program Flexibility Act and guidance from the Small Business Administration make it easier for loan recipients to achieve full forgiveness for their PPP loans. Our updated workbook helps loan recipients manage their modified loan forgiveness requirements (including the PPP Flexibility Act’s expansion to the covered period) while providing visibility into how much of their PPP loans ultimately may be forgiven. It will:
- Identify sample documents lenders may request to verify loan forgiveness eligibility
- Track payroll expenses over the forgiveness period
- Calculate loan forgiveness on a week-by-week basis
- Quantify reductions to loan forgiveness amounts