How to Get Started with Paycheck Protection Program Loan Forgiveness

If your organization has seen an influx of Paycheck Protection Program (PPP) applications, you're not alone. Once you get through the approval and funding process, you'll need to move on to the loan forgiveness process. Not only does this mean managing the volume of forgiveness applications and the additional time spent to digitize the paperwork; it also means mitigating the risks of potential losses, risks, and fraud. You will need a solution to support loan forgiveness processing for the portion of the loan proceeds that are used to cover the first eight weeks of payroll costs, rent, utilities, and mortgage interest.

Streamlined P3 loan forgiveness reporting equals faster forgiveness for small businesses, stimulating the American economy. The standardized PayNet P3 Loan Forgiveness Report offers a seamless integration with required data points and includes:

  • Business Background, Owner, SOS filings
  • Rent/Mortgage data
  • Utility payment history


Learn how the P3 Loan Forgiveness Report:

  • Speeds loan forgiveness processing—up to 100% of the loan amount—further supporting small businesses and the economy
  • Reduces time to forgive loan from over 2 hours down to minutes
  • Delivers data directly from verified sources to support forgiveness of legitimate loans

 

Schedule a demo