It has been quite a few weeks! Now that the PPP loan funds have been exhausted, you are either feeling very relieved or extremely disappointed. Regardless, we think there is still hope on the horizon.

  • Where are you in the PPP application process?
    • I did NOT Get PPP Approval in Time
      • We are all hoping that another round of PPP funding is approved by Congress. If you don’t already have an application in at your bank, we encourage you to submit one as soon as possible.
      • If/when new funds are added to the PPP system, it’s possible those funds will dry up very fast. You want to make sure your application is in your bank’s queue as soon as more funds are added to the program.
      • If you are frustrated with the response rate or interaction with your bank, please contact us for additional resources.
    • DID Get Approved for a PPP Loan
      • If you were approved, the funds will be hitting your bank account very soon. We have attached several resources to this email.
        • TD-PPP Loan Decision Tree – This is intended to guide you with high level decisions after you receive approval for your PPP loan
        • TD-PPP Loan Spending Guide – This will give you guidance for the next few weeks as you consider best how to use your funds
        • TD-PPP Forgiveness Tracker – We have an updated version of our PPP expense tracker. There are still a lot of questions that need to be answered about the forgiveness calculation, and we will update the expense tracker as needed.  For your copy, please reach out to your tax professional directly.

We will continue to update you as more information becomes available.