Firm Announces New PPP Loan Forgiveness Compliance Services
Clayton & McKervey, a certified public accounting and business advisory firm helping growth-driven companies compete in the global marketplace, has immersed itself into the inner workings of the Paycheck Protection Program (PPP) to fully serve its clients. The firm is pleased to announce three new service offerings related to loan forgiveness compliance and consulting.
“From the start of the PPP program, we made a decision as a firm to become knowledgeable on the loan terms, the guidance, and the follow-up regulations that continue to emerge from the SBA,”
Shareholder Jim Biehl, CPA said. “That decision spawned the launch of a weekly live video series in late April on the Paycheck Protection Program (PPP) and related COVID-19 business relief opportunities that attracts upwards of 300 participants per event. Business owners and decision-makers are hungry for factual information on the guidelines of the loan and using the money appropriately.”
The Clayton & McKervey loan forgiveness services offer three levels of review:
- Loan Tracking: Helping clients determine the best use of loan proceeds to maximize loan forgiveness. The firm will assist in gathering the supporting documentation necessary to provide a clear accounting for use of funds, allowing clients to focus on their day-t0-day financial and operational issues. This is the highest level of the three compliance service offerings.
- Forgiveness Calculator: Assisting clients with the calculation of eligible payroll costs, other eligible costs, and forgiveness limitations needed to submit to the SBA for loan forgiveness.
- Forgiveness Review: Designed for clients who prefer to handle documentation of loan utilization and estimation of forgiveness independently, yet want oversight of their documentation to ensure the information is SBA ready.
“The role of the CPA as business advisor has never been clearer than it is now,” Biehl said. “Our clients want loan forgiveness advice from professionals who know their business and industry; they want to be assured they are receiving proper loan guidance and responsive follow-through from a trusted source.”
About Clayton & McKervey
Clayton & McKervey is a full-service CPA firm helping middle-market entrepreneurial companies compete in the global marketplace. The firm is headquartered in metro Detroit and services clients throughout the world. To learn more, visit claytonmckervey.com.
The above represents our best understanding and interpretation of the material covered as of the date of this post. Things are moving at a rapid pace, and as such, information is subject to change. This information is provided for informational purposes only and is not intended to be a substitute for obtaining accounting, tax, or financial advice from an accountant.