PAYCHECK PROTECTION PROGRAM "PPP" SERVICES

 

Keep Your Business Afloat During COVID-19

 

 


 

Find Business Relief via the Paycheck Protection Program "PPP"

 

As part of the CARES Act, the Paycheck Protection Program "PPP" can provide a loan of up to as much as $10 Million to address the damage caused by COVID-19, covering 8 weeks of payroll, rent and utilities. Recipients can use the loans to cover eligible payroll costs -- including salaries, commissions, regular paid leave, and health-care benefits -- as well as mortgage interest and utility payments.

     
 

Who is Eligible for a PPP Loan?

Small businesses, nonprofits, Tribal business concerns, and veteran's organizations that:

 

  • Have less than 500 employees or the applicable size standard for the industry as provided by SBA, or
  • Are sole proprietors, self-employed individuals, or independent contractors
  • Were in business on Feb. 15, 2020
 
     
 

Loan Information

 

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive up to the amounts paid during the eight weeks following the loan if the money is used for payroll, rent, mortgage interest, or utilities and headcount and salary levels are maintained.

 

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

 

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020. For affiliation rules applicable for the Paycheck Protection Program, click here.

 

 

Loan Details and Forgiveness

 

The loan will be eligible for full forgiveness if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll) and headcount and salaries are maintained. Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

 

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. This loan has a maturity of 2 years and an interest rate of 1%.

 

If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

 

 

Not sure what to do?

 

Our experts will help you navigate the complexities of the SBA and tax guidelines and advise on how to manage your calculations to maximize your loan relief. We will assist you to:

 

 

 

How Mazars Helps

 

The loan guideline can be overwhelming to understand, and the calculations can be tricky. Mazars can help! We offer advisory services to help guide you through the calculation process. We also offer a self-service tool to help you maximize your calculations.

 

Advisory Services

 

Assess potential opportunities for beneficial strategies under the CARES Act

   

Assist in compiling the information from your books and records, to calculate your Maximum Loan Amount afforded to you from the Paycheck Protection Program under the CARES Act.

   

Advise, calculate, and model out the debt forgiveness portion of the Maximum Loan Amount as defined under the CARES Act

   
Advise upon the impact of potential business strategies under the CARES Act and other recent federal, state and local changes to existing laws and regulations.

 

 

 

Self Service PPP Analysis Tool for Purchase

 

Do you understand the guideline and need help with the calculations? We've packaged a self-service analysis tool, so you can calculate like a pro.

Our experts developed an essential analysis tool that can help all small businesses! It makes applying for the PPP simple and helps you maximize your company's loan forgiveness.

 

   

 

Mazars' Paycheck Protection Program Analysis Tool helps you optimize the greatest loan while maximizing loan forgiveness.

 

The Tool Helps You to:

 

  • Accurately calculate your potential PPP loan amount
  • Optimize your loan and different ways to calculate it
  • Maximize loan forgiveness
  • Decide next steps that will affect your imminent future
  • Understand loan amortization and the amount of loan coverage for a 2-year period

 

 

Maximize your Opportunity!

The program has a fixed amount of funding and we recommend that application is made early. Don't wait, the full effects of the COVID-19 crisis can't be predicted. Mazars' model helps you address uncertainties and maximize your options for the future.

 

 

 

 

 

PAYCHECK PROTECTION PROGRAM "PPP" ANALYSIS TOOL

 

 

Find Business Relief via the Paycheck Protection Program "PPP"

 

As part of the CARES Act, the Paycheck Protection Program "PPP" can provide a loan of up to as much as $10 Million to address the damage caused by COVID-19, covering 8 weeks of payroll, rent and utilities. Recipients can use the loans to cover eligible payroll costs -- including salaries, commissions, regular paid leave, and health-care benefits -- as well as mortgage interest and utility payments.

 

     
 

Who is Eligible for a PPP Loan?

Small businesses, nonprofits, Tribal business concerns, and veteran's organizations that:

 

  • Have less than 500 employees or the applicable size standard for the industry as provided by SBA, or
  • Are sole proprietors, self-employed individuals, or independent contractors
  • Were in business on Feb. 15, 2020
 
     

 

 

Loan Information

 

The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA will forgive up to the amounts paid during the eight weeks following the loan if the money is used for payroll, rent, mortgage interest, or utilities and headcount and salary levels are maintained.

 

You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program. You should consult with your local lender as to whether it is participating in the program.

 

Lenders may begin processing loan applications as soon as April 3, 2020. The Paycheck Protection Program will be available through June 30, 2020. For affiliation rules applicable for the Paycheck Protection Program, click here.

 

 

Loan Details and Forgiveness

 

The loan will be eligible for full forgiveness if the funds are used for payroll costs, interest on mortgages, rent, and utilities (due to likely high subscription, at least 75% of the forgiven amount must have been used for payroll) and headcount and salaries are maintained. Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.

 

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease. This loan has a maturity of 2 years and an interest rate of 1%.

 

If you wish to begin preparing your application, you can download a copy of the PPP borrower application form to see the information that will be requested from you when you apply with a lender.

 

 

Not sure what to do?

 

Our experts will help you navigate the complexities of the SBA and tax guidelines and advise on how to manage your calculations to maximize your loan relief. We will assist you to:

 

 

How Mazars Helps

 

The loan guideline can be overwhelming to understand, and the calculations can be tricky. Mazars can help! We offer advisory services to help guide you through the calculation process. We also offer a self-service tool to help you maximize your calculations.

 

Advisory Services

 

Assess potential opportunities for beneficial strategies under the CARES Act

   

Assist in compiling the information from your books and records, to calculate your Maximum Loan Amount afforded to you from the Paycheck Protection Program under the CARES Act.

   

Advise, calculate, and model out the debt forgiveness portion of the Maximum Loan Amount as defined under the CARES Act

   
Advise upon the impact of potential business strategies under the CARES Act and other recent federal, state and local changes to existing laws and regulations.

 

 

 

Self Service PPP Analysis Tool for Purchase

 

Do you understand the guideline and need help with the calculations? We've packaged a self-service analysis tool, so you can calculate like a pro.

Our experts developed an essential analysis tool that can help all small businesses! It makes applying for the PPP simple and helps you maximize your company's loan forgiveness.

 

 

 

Mazars' Paycheck Protection Program Analysis Tool helps you optimize the greatest loan while maximizing loan forgiveness.

 

The Tool Helps You to:

 

  • Accurately calculate your potential PPP loan amount
  • Optimize your loan and different ways to calculate it
  • Maximize loan forgiveness
  • Decide next steps that will affect your imminent future
  • Understand loan amortization and the amount of loan coverage for a 2-year period

 

 

Maximize your Opportunity!

The program has a fixed amount of funding and we recommend that application is made early. Don't wait, the full effects of the COVID-19 crisis can't be predicted. Mazars' model helps you address uncertainties and maximize your options for the future.