Since the inception of the Paycheck Protection Program (PPP), advisors have been searching for and building tools to help businesses navigate the complex forgiveness rules. We at Elevate believe that the best tool out there has been developed by Teslar Software, in collaboration with Citizens Bank, fTLD, and Mark Cuban.

PPP.Bank is a free, secure resource for small businesses, non-profits, and sole proprietors across the United States who received a Paycheck Protection Program (PPP) loan and are now applying for forgiveness. This website automates the 11-page forgiveness application and results in a .pdf that can be provided to the lender.

In our experience reviewing and building PPP software and tools, we have not come across a better resource for simplifying the complex forgiveness calculations. After the tool guides you through the entire process, prompting you to enter information when necessary, it will output a filled-out forgiveness application in PDF format which you can present to your bank along with supporting documentation.

This website has no fees or costs to the user and does not generate any income. It is a free offering to help you navigate PPP Loan Forgiveness. The website also does not contain a database and data you enter will not be kept. The only data being tracked in this application is site usage statistics.

Throughout the duration of your forgiveness period (24 weeks), we recommend maintaining detailed records of all eligible expenses for which you used PPP money, (including all payroll records; notably wage rates and FTE headcount for each employee). Keeping these records will make using PPP.Bank much easier.

Elevate recommends this site to all businesses which took out PPP loans. Every firm has a different capacity to either invest resources into understanding the application themselves or into hiring an external accountant. Regardless, this tool from Teslar significantly reduces the amount of time required to understand forgiveness and allows firms to apply more quickly than otherwise possible. For any firm, savings generated will likely be material from either a financial or productivity perspective.

If you or your team would like to discuss the tool, how to get started, and best practices during the Forgiveness Period, reach out to tim@ceoforums.us to set up a meeting.