At KROST, we offer tax, accounting, and consulting services with an industry-focused approach. Our objective is to educate on timely issues impacting you and/or your business.
Come join our webinars and learn.
There are no upcoming webinars at this time.
PPP Forgiveness Application Review Service for Lenders and Borrowers
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA. KROST’s subject matter experts have kept up-to-date with these changes to ensure that its clients are abiding by these rules.
KROST is now using this expertise to provide a PPP Loan Forgiveness Review Service for lenders and borrowers. This will involve independently checking all the calculations made by the borrower as part of the forgiveness application, including eligible expenses, full-time equivalent employees, and salary/hourly wage reductions to ensure compliance with SBA rules. In addition, KROST will review the supporting documentation provided by the borrower for verification.
In this webinar, learn about the KROST PPP Loan Forgiveness Review Service for lenders and borrowers, and how it addresses the forgiveness process in a timely and efficient manner, while ensuring compliance with the SBA’s rules and guidance.
The PPP Loan Forgiveness Application Process
Since the CARES Act passed into law in March, there have been new laws, multiple rule publications, and over 50 FAQs released by the SBA. KROST’s subject matter experts have been consulting with PPP borrowers throughout the process, beginning with assistance on loan applications and subsequently collaborating with clients to best use the loan proceeds to ensure the expenses are permissible and maximize forgiveness.
Now, it is time to consider a loan forgiveness application. We reviewed the key rules, calculations, timing, and procedures involved in the process. We also presented the details of the KROST PPP Forgiveness Application Review Service and how it can help borrowers ensure they qualify for forgiveness and to maximize the amount of forgiveness.
PPP Rule Changes and Forgiveness Update
Following the passing of the Paycheck Protection Program Flexibility Act (PPPFA), and subsequent updates from the SBA, Paren Knadjian, head of M&A and Capital Markets hosted a webinar that:
(a) Gave details on PPP rule changes and clarifications
(b) Highlighted how these changes affect forgiveness of the loan
(c) Demonstrated the latest version of the KROST PPP Budgeting and Optimization Tool
(d) Gave an update on EIDL and Main Street Loan Programs
The Employee Retention Credit: A Valuable Alternative to Emergency Loans
Informative webinar that provided the latest guidance on applying for the Employee Retention Credit (ERC). The credit, equal to 50% of the first $10,000 of “qualified wages” paid by an “eligible employer,” could be a valuable alternative for those who either did not apply or did not qualify for PPP and other emergency loans. The session will focus on who is eligible for the credit, how to compute the amount of the credit, how to claim the credit, and how it interacts with other benefits provided by the CARES Act.
PPP – Calculating, Optimizing and Tracking Use of Funds to Maximize Loan Forgiveness
Paren Knadjian, Head of M&A and Capital Markets at KROST, gave an update on the latest guidance on the use of PPP loan proceeds, best practices on the use of proceeds, and demonstrated the KROST PPP Budgeting and Forgiveness Maximization Tool. This proprietary tool allows users to plan, budget and track expenditure on a week-by-week basis and has all the current known rules on forgiveness programmed into it.
Emergency Loan Programs for Economic Relief
Webinar that covered the latest update on the state and national emergency loans available for small to medium-sized businesses (under 500 employees).