Loan Forgiveness App Help + Legislative Update

Presented August 6, 2020

Moderated by:

Jason Knight, Director of Operations

Agenda• How to use the PPP Form Generator• Legislative Update• Important dates/deadlines• Q & A

September 27, 2020

SBA Loan Forgiveness Spreadsheet

• Overview• Things to consider• Using the form• Tab by tab walk-through• Printing and submitting

SBA Loan Forgiveness Spreadsheet OverviewWe created this spreadsheet to help our clients fill out the lengthy and complicated revised Loan Forgiveness Application.

Who needs to fill out a Loan Forgiveness Application?

• Anyone with a Paycheck Protection Program loan that wants to be considered for loan forgiveness needs to fill out the revised forgiveness application.

Who can use our SBA Loan Forgiveness Spreadsheet? • TAG | eBacon Clients that ran payroll with us for ALL of 2019.• Clients that did not run payroll with us for all of 2019 can use the form generator BUT

they will have to fill out all missing data themselves.

Where to find the SBA Loan Forgiveness Spreadsheet

Log into Viper and select “Company” from the main left side menu. (Figure 1)

Next, select “Company” again under the secondary menu and navigate down to “SBA PPP Loan Forgiveness.”

This launches the screen that launches the SBA Loan Forgiveness screen.

Figure 1 Figure 2

Where to find the SBA Loan Forgiveness SpreadsheetOn the SBA PPP Loan Forgiveness screen you’ll need to make your selections and click “Generate Excel” to get started.

Documents Needed

In Viper, payroll and tax information will be under Reports > Accounting

You will need to provide your lender with the following documentation:• Documents show payment of mortgage obligations, lease payments and/or utilities• Payroll and tax information including employees on payroll (including pay rates)• IRS Tax Filings• State income payroll filings• Unemployment insurance filings

Instructions are included on the actual form generator, but here’s how it work:

– Yellow Fields: Must be filled out by you – Green Fields: Must be checked by you & filled in if

missing/inaccurate.– Gray Fields: Filled in by the system.

Using the Form Generator You’ll need some information handy, including but not limited to:

• All business info (Address/EIN/Contact info)• SBA PPP Loan Number & Lender Loan

Number• Loan amount and disbursement date • Employees at time of loan app AND at time of

forgiveness application• EIDL Advance amount and application

number

Things to Consider

• Use the EZ APP IF You qualify for it! (details next slide)

• To generate the form in Viper, you’ll need to make selections in the following areas in order to compare and find your best options:

– Loan coverage periods– FTE Calculations – Use Alternative covered period

• When we refer to Lines, we’re referring to line numbers on the spreadsheet, NOT the numbers printed on the application itself.

• Be sure to compare your loan amount with the forgiveness amount. These are found on Lines 15 and 55 of the spreadsheet. If they are the same, you don’t need to do anything. IF they are different, you’ll need to change your selections in Viper to find the option that provides the maximum loan forgiveness.

Each time you change your selection, you’ll need to redo the Employees Tab!

Use the EZ App if you can say YES to ONE of these conditions

1. You are self-employed (independent contractor/sole propriety) and your PPP loan app didn’t include any employee salaries in calculating the avg monthly payroll

2. You didn’t reduce annual salary or hourly wages of any employee by more than 25% during the Covered Period or the Alternative Payroll Covered Period compared to the period between January 1 and March 31, 2020 AND you did not reduce the number of employees or the average paid hours of employees between Jan 1, 2020 and the end of the Covered Period.

3. You did not reduce annual salary or hourly wages of any employee by more than 25% during the Covered Period or the Alternative Payroll Covered Period as compared to the period between January 1 and March 31, 2020 AND were unable to operate at the same level of busines activity as before Feb 15 due to compliance with official COVID-19

Application Easy Tab If you qualify for the EZ Application, this is where you start

the application.

• You do NOT need to fill out both the Application tab AND the Application Easy tab.

• The first 2 pages of EZ Application require the same information as the full revised Application. (See below for instructions)

• This application doesn’t not include the Full-Time Equivalency (FTE) Reduction Calculation.

Important: These areas have only GRAY fields which do not require editing.

Application Tab – Page One

This page outlines the information on the original loan application along with loan details.

• You’ll need to add in non-payroll costs that count toward the forgiveness amount calculation like mortgage interest payments/lease payments/utility payments(Lines 34 ,36 and 38 on the spreadsheet.)

Important: Complete all YELLOW fields & review ALL GREEN fields and update if necessary, for accuracy.

Application Tab – Page Two

This page is where you certify the accuracy of the loan forgiveness application.

You’ll need to add your initials, signature and date in several areas. Outlines the information on the original loan application along with loan details.

Important: Complete all YELLOW fields on this page.

Application Tab – Page ThreeThis page covers the Full-Time Equivalency (FTE) Reduction Calculation.

• You’ll need to verify if you had a reduction of employees or average paid hours.

• Line 132 of the spreadsheet covers the FTE Reduction Safe Harbor, which effects those that were unable to operate at pre-February 15th levels to comply with official COVID-19-related regulations. You must select either Yes or No.

Important: Complete all YELLOW fields & review ALL GREEN fields and update if necessary, for accuracy.

Pages 4 and 5 have only GRAY fields which do not require editing.

Schedule A, Table 1 and 2 Tabs

Both of the Schedule A tabs (Table 1 and 2) should be filled out by the system. You do not need to do anything with these fields if you ran payroll with us for all of 2019

If you did not run payroll with us for all of 2019, you need to review and complete fields throughout the document, including these tabs. • NOTE: The best practice is to fill out the Employee Details tab first as

that information will transfer to these tabs.

Important: These areas have only GREY fields which do not require editing.

Employee Details Tab This area covers the details of your employees during the covered period.

• You will need to add a PPP Termination Reason for employees that were employed on February 15th but terminated afterwards.

• If the owner is listed here, you’ll need to mark them as the owner in Column H and P.

• Be sure to scroll all the way to the right to the week by week listing of wages and hours. You’ll need to review for accuracy or complete these, depending on the data our system has on your business.

Important: Complete all YELLOW fields & review ALL GREEN fields and update if necessary, for accuracy.

Table List Tab – Do not modify

You do not need to review or modify anything on this tab.

Important Deadlines Here are some important deadlines you should be aware of:

• The new deadline to apply for a PPP loan is August 8, 2020.

• You have until December 31, 2020 OR the date of your PPP loan forgiveness app to restore employment and salary to furloughed employees and still qualify for Safe Harbor provisions.

• The PPP Loan forgiveness interest deferral period ends 10 months after the end of the covered period UNLESS you’ve submitted your loan forgiveness application.

Printing and Submitting Your Application You must print ALL pages and mail in /submit via this method to finalize your application!

PrintingPrint ALL pages on the Application Easy Tab ORPrint ALL pages on ApplicationPrint ALL pages on Schedule A - Table 1Print ALL pages on Schedule A - Table 2Print ALL Pages on Owners Compensation

Submitting• You must submit the completed application to your Lender OR the Lender that is servicing your loan. • You may be able to complete and submit this application electronically through your Lender IF they

have that option available.

HEALS Act (Health, Economic Assistance, Liability Protection & Schools)

HEROES Act (Health & Economic Recovery Omnibus Emergency Solutions Act)

Legislation Update

Thank you for your time!tagpay.com | eBacon.com