How To Get Your PPP Loan Forgiven [FREE DOWNLOAD]
You've applied for the Paycheck Protection Program (PPP,) and you've been told that you are getting the money. Awesome! But now you need to use those funds wisely in order to have your loan forgiven. We're talking about how to budget the PPP funds well, and I'm walking you through an Excel worksheet that can help you keep track of your PPP money in order to ensure maximum forgiveness. This will help you plan, prepare and be ready to apply for forgiveness of your PPP loan.
Download the worksheet that we walk through in the video here https://clara-cfo-group-llc.ck.page/d5ef5d9b84
Make sure you check with your bank on any forgiveness requirements. This tool is meant to help you PLAN for forgiveness, but it does not guarantee forgiveness. Do your best to plan your spending so that you can hit the spending thresholds in order to qualify for forgiveness.
The Paycheck Protection Plan does allow for forgiveness of certain qualified costs, so be sure to track and plan your spending!
Remember to document and save evidence of any spending you make. Save the bill and proof of payment for any utility bills. Have your lease agreement or mortgage statements available to show proof of your rent or mortgage interest. Make sure you get reports from your payroll provider to prove your payroll amounts.
For more small business financial resources go to https://claracfo.com/
Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.