We understand that in the face of large anticipated demand for the PPP loans, both lenders and their business applicants will be significantly challenged with the verification process that can lead ultimately to debt forgiveness under the program.
ATLANTA (PRWEB) April 01, 2020
Frazier & Deeter (FD), the nation’s 51st largest accounting and advisory firm, announced today the launch of its Federal CARES Act Monitoring and Debt Forgiveness Verification Program (“FD CARES Act Program”). The FD CARES Act Program is staffed by a multi-discipline team of former bank audit executives, auditors and tax professionals and is designed to meet the needs of the nation’s SBA lenders and small businesses seeking to effectively comply with the requirements of the Paycheck Protection Program (PPP) and other aspects of the newly enacted CARES Act.
The FD CARES Act Program is led by FD Principal Bradley Carroll, a former bank Chief Audit Executive. Carroll and his team bring decades of bank audit experience to this initiative.
The CARES Act tasks SBA lenders with administering the Paycheck Protection Program, which contains specific requirements regarding how a business can deploy the proceeds from the loans under the PPP and how that business may ultimately qualify for debt forgiveness under the program.
“The recently enacted CARES Act promises much-needed relief to businesses that qualify,” said Carroll. “We understand that in the face of large anticipated demand for the PPP loans, both lenders and their business applicants will be significantly challenged with the verification process that can lead ultimately to debt forgiveness under the program. The FD CARES Act Program is designed to provide third-party attest services for debt relief.”
The FD CARES Act Program will also include assistance for businesses seeking to take advantage of the various payroll and other tax provisions that can provide much-needed cash relief.
Interested financial lenders and businesses can learn more about the FD CARES Act Program and schedule appointments at http://www.frazierdeeter.com/coronavirus/SBA
About Frazier & Deeter
Frazier & Deeter is a nationally recognized accounting and advisory firm headquartered in Atlanta, Georgia, USA. Frazier & Deeter and its FD family of brands have nine offices across the United States and one in the United Kingdom. The firm has been recognized repeatedly as a Best of the Best Accounting firm, a Best Firm to Work for in the U.S. and a Best Firm for Women in Leadership. The firm provides a wide range of tax, audit, accounting and advisory services to help clients reach their unique financial goals. Frazier & Deeter’s brand promise is investing in relationships to make a difference™.