SBA Servicing Strategy

Mission Statement

Assist clients in navigating the Federal and State regulatory guidance regarding small business relief under the CARES Act in response to Covid-19 by providing: business advisory services bespoke to the client’s needs and business; assistance with the client’s application process; compilation and preparation of necessary financial information to secure the loan and assistance with the loan forgiveness and loan compliance process.

  • Business Advisory Services
  • Assistance with Application Process (EIDL or PPP)
  • Preparation of Financials to Secure Loan
  • Assistance with loan Forgiveness
  • Loan Compliance

Pricing

  • Initial Consultation – $250 – PHASE 1
  • Price range of services – $995 – $1,500 (inclusive of the consultation fee) – PHASE 2 & PHASE 3

Description of Services – Phases 1, 2 and 3

PHASE 1 – Consultation

    • Covid-19 business impact analysis focusing on:
      • Type of business/industry and entity type
      • Areas of concern
      • Type of expenses and nature variable/fixed
    • Loan relief overview and Federal (EIDL/PPP) and State options
    • CPA recommendation and facilitation/compliance/forgiveness plan

PHASE 2 – Loan Facilitation

    • Assist clients with a walkthrough of the application for the respective loan
    • PPP Loans
      • Assist in the calculation of average monthly payroll
      • Compile and/or prepare and/or attest to financial information required for the loan
    • EIDL Loans
      • Work with the client and their bank to facilitate the secondary loan process post the initial EIDL grant
      • Compile and/or prepare and/or attest to financial information required to obtain the loan
    • State Loans
      • Compile and/or prepare and/or attest to financial information required to obtain the loan
    • Establish a forecasted plan with the client on how to disburse and handle loan proceeds to maximize loan forgiveness and compliance with loan covenants over a 10-16-week period

 PHASE 3 – Loan Compliance/Forgiveness

    • Assist the client in working with their bank to process the loan forgiveness for PPP including substantiating cash flows and expenditures in accordance with loan agreement.
    • Assist the client in preparing a forecasted budget incorporating the EIDL loan repayment
    • Assist the client with loan compliance for State loans including substantiating cash flows and expenditures in accordance with loan agreement.

Contact Pungello CPA

Complete the form or call (848) 222-2520