The Small Business Administration (SBA) put the Payroll Protection Program (PPP) into place very quickly as the Pandemic began in this country. Unfortunately, there were a lot of issues that came up, and no answers to be found. The SBA has tried to correct a lot of the issues, and while it is not perfect, it has improved. Please understand that if you do everything correctly you can get some or all of the funds forgiven. You do not want PPP to turn into a massive unwanted loan.
The three biggest mistakes made with the Payroll Protection Program
- A math error. Take your time and triple check your adding.
- Not filling out the application for forgiveness. Get with the financial institution that granted you the program and get their application. They are not all the same!
- Not submitting supporting documentation. Keep accurate records. The more supporting documentation the better.
Please understand that the information is ever changing, but we are going to help the best we can today and everyday. We will continue to post as we get new information, so please reach out to us if you need assistance. Let us help you avoid the PPP becoming a loan. We can either do the application for forgiveness for you or, for the DIYers, we can review and help make sure you did everything correctly. We can send you a checklist. This will save you tens of thousands of dollars in the end.
When we work together you will:
- Save hours and hours of time with the Done For You’ s.
- Have peace of mind that you crossed all the T’s and dotted all the I’s.
- Experience confidence and trust in working with a caring seasoned professional.
Are you ready to get answers for your Payroll Protection Program questions? Contact us today so we can help.