CliftonLarsonAllen (CLA) understands operators’ accounting activities became much more complicated this year if they participated in the federal Paycheck Protection Program (PPP).
To provide crucial assistance, CLA recently announced new solutions to help borrowers tackle loan forgiveness.
PPP guidance is released frequently, and the related calculations are complex as a new law was signed by President Donald Trump just last week. CLA is offering forgiveness packages to guide borrowers and lenders through the process effectively and efficiently. The forgiveness packages involve innovative tools and virtual consultations with experienced professionals from across the nation to reduce the stress of the process.
“The forgiveness application and related support package is the most important step in the PPP process,” said Elly Barrineau, managing principal of CLA’s specialized advisory services practice.
“We’re here to help, whether it’s a short consultation with an experienced professional to get you started, or with full support throughout the process. Best of all, our virtual meetings mean you can work with us from the comfort of your home,” Barrineau added in a news release.
CLA emphasized that it has detailed knowledge of the entire program, from the PPP loan application and documentation to providing guidance borrowers need to navigate the benefits and understand the risk landscape.
The CLA forgiveness tool can guide borrowers through the detailed PPP loan forgiveness calculations and supporting documentation that goes with the forgiveness application. During online meetings, CLA professionals can help borrowers understand what portions are mandatory versus elective.
Some packages include access to CLA Intuition 2.0, a scenario-modeling tool that can allow users to plan ahead and respond effectively to changes during challenging times. In addition to bringing financial clarity, the interactive modeling dashboards show the financial impact of decisions under various scenarios.
“The real power comes in consulting with knowledgable professionals who have a dedicated focus on the PPP,” Barrineau said. “No tool alone can bring enough clarity around the PPP rules and process. The CLA team picks up where a tool leaves off.”
Experienced professionals can help borrowers plan an organized approach to completing Form 3508 and assembling the necessary supporting records. The CLA team can also help borrowers evaluate the most advantageous approach to counting FTEs between the standard and simplified methods.
CLA’s forgiveness packages were designed to match the support borrowers need with a level that brings the most value.
CLA offers financial tools to help lenders and borrowers navigate PPP loan forgiveness. CLA professionals also share updates and insight as part of their COVID-19 resource center and on their livestream series.
To learn more details, visit claconnect.com.