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  • Writer's pictureKathryn Bruns, CPA

Draft PPP Loan Forgiveness Application

Were you successful in securing a PPP loan recently ? Remember, the biggest benefit of the PPP loans was the potential forgiveness of it if you spent it on the "right things". As I've blogged about before, the PPP funds were a scramble to get, amidst confusing and ever changing guidelines. Now that some self-employed folks and businesses got these funds, they are left with a feeling of "now what?" regarding getting the use of the loan funds documented and forgiven.

Well, the draft application of the forgiveness of the PPP loans has been published, and it isn't pretty. I suggest you enlist the help of a saavy professional, and do it quick. The 8 week window to document forgiveness began when you received the funds, so time is of the essence.

I'm available on a limited basis to provide this assistance over the next couple of months, so feel free to reach out if you would like some help. My current clients will get priority with this, and a new highly "disclaimered" service agreement will need to be put in place ASAP. The forgiveness of these funds is too good to pass up, and you don't want to end up kicking yourself in hindsight for not handling this the best way possible.

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