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SBA Paycheck Protection Program (PPP) resources for CPAs

The Coronavirus (the virus that causes COVID-19) is having an unprecedented effect on the economy. Main Street’s small businesses are struggling to stay afloat as they’re forced to close to protect the health and safety of employees and customers.There are opportunities for help through U.S. Small Business Administration (SBA) loans. One of the most impactful is the Paycheck Protection Program (PPP), designed to provide access to funding so businesses can keep paying their employees and other expenses such as health insurance premiums, rent or mortgage payments and utilities. This important financial relief will help small businesses return to being fully operational quicker once conditions improve. In this resource center designed for CPA firms, you’ll find tools to help you educate and advise your clients on the program.

Featured news and resources

AICPA Town Hall Series – October 14 Special Edition

Catch the replay of the latest Town Hall. AICPA leaders provide legislative, tax, and PPP loan forgiveness updates.

Register for the AICPA Town Hall Series

Join us every other Thursday at 3:00 PM ET for the AICPA Town Hall Series. Hosts Erik Asgeirsson, President & CEO, CPA.com and Sue Coffey, CPA, CGMA, EVP Firms Services, discuss the latest guidance from Treasury and SBA. Free CPE for AICPA members.

PPP Forgiveness Tool

PPPForgivenessTool.com is a free resource developed by the AICPA. CPA.com, and fintech lender Biz2Credit to assist business owners and their accountants in automating the loan forgiveness application process for their PPP funding.

SBA Paycheck Protection Program (PPP) FAQs

Series of frequently asked questions (FAQs) that provide answers to questions we are hearing from our members about the Paycheck Protection Program (PPP)

PPP Loan Forgiveness Calculator

The Loan Forgiveness Calculator uses available guidance from the Small Business Administration and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness.

General resources

SBA Paycheck Protection Program (PPP) FAQs

Series of frequently asked questions (FAQs) provides answers to questions we are hearing from our members about the Paycheck Protection Program (PPP)

PPP Loan Forgiveness Services Matrix (PDF)

Matrix to help the CPA determine which service is appropriate to provide for PPP loan forgiveness.

Summary of Paycheck Protection Program Flexibility Act

The Payroll Protection Program Flexibility Act of 2020 was passed by the House and Senate to give borrowers flexibility in their PPP loan.

PPP loan application resources

Sample PPP Application

Provide your clients with a sample application so they’re prepared to apply.

PPP Loan Amount Calculator – Non-seasonal & In business 2/15/19 – 6/30/19 (Excel)

This calculator will apply for most businesses that operated in 2019.

PPP Loan Amount Calculator – Nonseasonal & NOT in business 2/15/19 – 6/30/19 (Excel)

This loan application calculator will apply for new businesses.

PPP Loan Amount Calculator – Seasonal business (Excel)

This loan application calculator will apply for clients that don’t operate year-round.

PPP Loan Amount Calculator – Self employed (Excel)

This loan application loan calculator will apply for clients that are self-employed and independent contractors.

PPP loan forgiveness resources

PPP loan forgiveness calculator (Excel)

The Loan Forgiveness Calculator uses available guidance from the Small Business Administration and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness.

Paycheck Protection Program (PPP) FTE Calculator

Use this calculator to accumulate and determine FTEs as defined for the PPP loan forgiveness process.

Self-Employed PPP Loan Forgiveness Calculator

This calculator aligns with the SBA Form 3508 EZ for borrowers without employees to work through their potential PPP Loan Forgiveness.

Fillable PPP Loan Forgiveness Application – with formulas

Help clients complete an SBA PPP forgiveness application with this PDF, which includes calculations and information from other, relevant application pages.

Forgiveness calculation steps

Look over these steps to prepare for maximum loan forgiveness at the end of the covered period.

Self-Employed Forgiveness Calculation Steps

Step-by-step guide to maximizing PPP loan forgiveness for self-employed and other Schedule C filers.

PPP Loan Forgiveness Instructions and Applications

The U.S. Department of the Treasury provides instructions and applications for forgiveness including SBA Forms 3508, 3508EZ and 3508S.

PPP Forgiveness Tool for Small Businesses

Complete a PPP loan forgiveness application faster, for free and with less paperwork.

PPP Forgiveness Tool for CPAs

Where CPAs can manage their client’s PPP loan forgiveness applications efficiently.

Funding Resources

SBA loan snapshot

A resource to help your clients get a basic understanding of SBA loan options.

Overview of SBA loans

This downloadable chart provides a simplified look at Small Business Administration loan options.

Emergency funding to offset Coronavirus impacts on your business

Use this co-brandable resource to help your clients understand the new PPP funding option.

Main Street Lending (MSL) funding options

Many businesses have been impacted by the COVID-19 pandemic. Learn more about financial assistance available through these federally backed lending programs.

EIDL overview with PPP and MSLP comparisons

Look at key details of the Economic Injury Disaster Loan program in comparison to the Paycheck Protection Program and Main Street Lending Program.

Guidance

Following are links to guidance related to PPP. There are areas of the Act where additional clarification from the Treasury and SBA is needed. Your judgement and interpretations of the Act and supplemental guidance may be necessary.

SBA interim final reports and frequently asked questions index

Searchable index of the Small Business Administration’s Interim Final Reports and Frequently Asked Questions for the Paycheck Protection Program.

SBA PPP FAQs and Guidance

Released from U.S. Treasury

Articles, podcasts, webcasts and press releases

New AICPA tool automates PPP Loan Forgiveness Process

A new, free tool developed by the AICPA, CPA.com, and fintech lender Biz2Credit is designed to help borrowers and their CPA advisers complete the forgiveness application for Paycheck Protection Program (PPP) loans.

5 reasons borrowers shouldn’t rush their PPP forgiveness applications

While you may be anxious to apply for forgiveness, here are five factors affecting the forgiveness application process.

PPP: Client forgiveness services Q&As for CPAs

Learn the differences between PPP consulting engagements and agreed upon procedures in this Q&A for CPAs.

AICPA Town Hall Series Archives

Catch the replays of all the Town Hall meetings. Listen in as Mark Koziel, EVP Firm Services, and Erik Asgeirsson, President & CEO, CPA.com, and their featured guests discuss legislative action, guidance and other hot topics.

PPP forgiveness simplified for loans of $50,000 or less

A new IFR provides guidance concerning forgiveness and loan review processes for PPP loans of $50,000 or less.

PPP loan forgiveness: What CPAs should be doing now

The wise course is to begin preparing the forgiveness application and stay on top of documentation requirements but also be patient with the process.

Important considerations

AICPA Offers Recommendations for Firm-Lender Relationship for Paycheck Protection Program

The AICPA is driving a common understanding and approach around the firm lender relationship related to the Paycheck Protection Program.

Lenders and PPP loans: How can CPAs help?

Are you performing PPP loan-related services for a lender who is also your attest client? Keep your independence in check with this information.

Issues related to CPA involvement with PPP loans

Learn about acting as an agent, potential independence and conflict of interest issues and more in association with PPP loans.

Ethical implications to consider for COVID-19 PPP loan applications

Helping your small business clients with their loan applications under PPP.

Update: Impact of accepting PPP agent fees on independence

Accepting an “agent fee” for advisory services under the Paycheck Protection Program (PPP) of the CARES Act does not in and of itself impair independence.