A Specialized Team for PPP Loan Forgiveness Assistance
Calculation, Documentation Support and Ongoing Guidance.
Lurie is your PPP loan advisory partner, helping you navigate through shifting SBA rules, complex guidelines and documentation requirements. Don’t leave your loan forgiveness to chance.
How We Can Help: A scaled and customized PPP solution for your business needs:
We can use your accounting software, or our free PPP Loan Organizer, to accurately track your approved expenses during the covered period and compare to the required payroll percentages for loan forgiveness.
Our team can assist your accounting staff, or we can handle the accounting for you, to:
- Track payroll expenses (including Hazard pay, commissions or hourly time sheets to support payroll amounts) during the covered period.
- Track other payroll-related expenses, including premiums paid for group health insurance, retirement contributions, etc.
- Track other allowable expenses, including rent, utilities (verify approved by SBA) and mortgage interest (if applicable).
- Track PPP loan fund use and remaining available balance.
With your information clearly organized into codes, categories and tables based on the latest SBA guidelines and synced to the forms required for your forgiveness application – you reduce the chances of error or delay.
We can check your work, or do the work for you. Run either one-time or periodic calculations to see how you are pacing with your PPP loan forgiveness rules, based on your uses of the PPP loan funds to determine eligibility for loan forgiveness.
Our specialized accounting team can:
- Calculate expenses you incur during the “covered period” (8-weeks, or up to 24-weeks following the PPP loan funding date, depending on your loan and plan).
- Based on expenses incurred, determine potential required reductions in PPP loan forgiveness, including the calculations necessary for FTEs (full-time equivalent employees) and individual employee compensation levels.
- Calculate the percentage of PPP loan funds for payroll to assess compliance with loan forgiveness rules.
We use SBA and accounting standards best practices to help you create a repository of documentation. This will clearly show how loan proceeds are used and also creates an audit trail for your loan forgiveness application at the end of your PPP disbursement period.
Analyze your expenses and run scenarios to show the impact on your loan forgiveness requirements – thus giving you opportunity to make adjustments to your payroll, expenses or take other critical measures that may be the difference in staying above the 60% threshold for loan forgiveness.
SBA guidance is evolving, and unclear. With so much at stake, we can advise you on new guidance and final rules as they are issued – and help you with any adjustments or documentation that is necessary.
Your PPP "Second Set of Eyes."
Your Paycheck Protection Program (PPP) Advisory Team Leaders:
Partner, Business Valuation, Entrepreneurial Services, Litigation Support
Director, Transaction Advisory Services
Chris Van Schooneveld
Manager, Business Valuation & Litigation Support
Manager, Business Intelligence
Manager, Tax Services
Team Lead, YourBooks®
General Ledger Associate