We are not legal professionals, and cannot provide legal advice. APM Help is a group of AppFolio, Propertyware, Buildium and Property Management experts and are happy to assist in the loan application process. The government has approved a second round of PPP loans and funding on April 27th, so it's not too late to apply if you missed the first round of applications!
This blog will be updated as new information comes available.
Last updated: 4 May 2020
Yes, it covers payroll costs including paid vacation, parental, family, medical and sick leave. The employer could be entitled to a refundable tax credit for any sick time related to COVID-19. Review the specifications in this IRS article.
Up front, it seems pretty simple to get forgiveness on your PPP loan, but it might not be as straightforward as we originally thought. The American Institute of CPAs provided a step-by-step guide to calculating your loan forgiveness. You will need to provide the following documents to your lender after determining if you qualify for Loan Forgiveness:
Documents verifying the number of full-time equivalent employees on payroll and their pay rates, for the periods used to verify you met the staffing and pay requirements:
Documents verifying your eligible interest, rent, and utility payments (canceled checks, payment receipts, account statements)
** requirements may vary by lender
For additional information, please visit this webpage. If you would like APM Help to assist you in the application process please call us/text us at 281-949-8755 or email email@example.com.
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