The Coronavirus/COVID-19 pandemic has caused an unprecedented economic ripple effect for business owners all over the United States. During this time of economic uncertainty, our COVID-19 financial advisors want to make sure that we provide everyone with REAL TALK and give some ACTIONABLE STRATEGIES to help you become more agile during this time.
Fusion CPA has extensive experience leading our client’s financial advisory for the last decade and throughout the last recession. Our team of CPAs is prepared to help you address and resolve your economic issues caused by COVID-19.
Key Points From The PPP Loan Forgiveness Application
May 21, 2020
The Small Business Administration (SBA) and the Department of the Treasury have released the Paycheck Protection Program (PPP) Loan Forgiveness Application. So our team of SBA PPP Loan Advisors has provided insight on the key takeaways from the forgiveness application.
COVID – 19 Small Business Advisor
Fusion CPA is committed to aiding our clients to navigate their economic uncertainties due to the Coronavirus pandemic. Our team of small business CPAs will continue to provide guidance and actionable advice on this page as everything evolves.
Our two-phase process
We have designed a two-phase SBA PPP loan process to help clients navigate the application and loan forgiveness process.
Phase 1 - Calculate & Apply:
- Guide you in gathering all of the required documents you need to apply for an SBA loan.
- Calculate the amount that you will be eligible to borrow with our PPP Loan Forgiveness Calculator by analyzing qualified included and excluded expenditures.
- Assist you in connecting with your SBA lender.
- Consult on comparing loan options
Phase 2 - Loan Forgiveness:
- Analyze & optimize eligibility for loan forgiveness for expenditures during the 8 week period beginning on the date of the origination of the loan
- Consult on reduction on the number of employee headcount & reduction of greater than 25% in wage rules
- Calculate how much of the borrowed funds will be forgiven at the end of the 8-week period.
Our expertise covers all aspects of accounting and bookkeeping accross the various industires we serve. Whether you are a small business or an established company, we apply our experience and resources to help you identify opportunities to achieve your goals, provide operational efficiency through effective workflows and processes, and stabilize profits for your company.
To learn more about our Coronavirus/COVID-19 Support Resources, please contact us today. We have the resources to respond to your needs quickly; our team is here for you.