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.
Download covid 19 loan application

Contact Pungello CPA

Contact Pungello, CPA (848) 222-2520 




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