The Paycheck Protection Program is an SBA loan designed to help businesses keep their teams employed during the Coronavirus crisis. This program offers support to small businesses with less than 500 employees, including sole proprietorships, independent contractors, and self-employed persons.
If you’re overwhelmed applying for the PPP, Campbell Taylor Washburn can help guide you through this process. Get the support you need in the wake of COVID-19.
CTW Can Provide Advice Surrounding The Care Act’s Paycheck Protection Program
Campbell Taylor Washburn has been deeply involved in helping clients with their forgivable loan applications under the PPP. We can work with you to address any questions or issues that come up as you apply, including:
- What members of my group are considered affiliated for purposes of the 500-employee cap to qualify for the PPP?
- Does my PE investor cause me to be affiliated with all of the other companies where the investor is an equity holder?
- How does my group mathematically determine whether it is under the 500 employee cap?
- How does my group compute the “average monthly payroll costs”?
- How do I apply the $100,000 rule for determining “average monthly payroll costs”?
- I sold (acquired) one of my group members during the 12-month look-back period. How do I factor that business into my application?
- How are guaranteed payments to partners factored in?
- Which of my current loans can I refinance through this program?
- What is the impact if one or more members of my group is a seasonal employer?
- Which members of my group should take the loan? If more than one, which one and in what amount?
Make sure you take advantage of this support for your business while it’s available. If you’re looking for assistance as you navigate this application process, CTW can help.