Does your PPP team need help with processing, decisioning, documenting and/or responding to SBA’s Review of the Applications for Forgiveness (Application)? Many PPP lenders have struggled with the Application process, accounting for “allowable/unallowable” expenses, payroll for owners/management, obtaining/reviewing the proper documentation, etc.
Hilltop Advisors LLC (Hilltop) has helped our SBA clients and their borrowers with handling the many PPP Application issues and the challenges for borrowers to understand what is required for the Forgiveness. Our SBA team is also experienced with all of the SBA loan programs (noted below). We have worked with Top 20 banks, mid-tier banks and small SBA lenders. If you need assistance with any of the SBA’s program requirements noted below, let us know and we can discuss how Hilltop can help. Some examples include, but are not limited to, the following:
PPP Applications for Forgiveness (any or all of these steps can be completed or reviewed):
- assess the Lender’s Application process to enhance the borrower experience,
- review the borrower’s documents needed to support forgiveness and work with the borrower to provide the correct and/or complete documents,
- recalculate the owner employee cost, salary/wage compensation, FTEs, etc.
- identify/select the optimal covered-period elections,
- review PPP Applications’ incomplete or inaccurate calculations,
- review final Applications to ensure compliance with SBA requirements, including Interim Final Rules (IFRs),
- assist with submission of the Application to SBA,
- help with the response to SBA’s Application questions,
- ensure that the inventory of documents to support the Application is complete/compliant,
SBA Loan Programs (other than PPP):
- perform independent compliance reviews (Lender’s Policies, Controls, Documentation, etc.) of the SBA 7a, 504, EIDL, non-profit, military and other loan types,
- review and identify credit, counterparty, compliance and fraud risks,
- assist or provide independent internal audit reviews,
- analyze risk ratings for commercial and SBA loans,
- analyze loan losses in excess of the CECL assumptions/calculations for all loan types,
- help mitigate any findings from an SBA exam,
- lead or assist a fraud controls compliance review,
- identify a fraud’s impact, how the fraud was conducted and what new controls are needed to prevent future frauds of the same kind.
Hilltop’s SBA team would like to discuss how your Company can increase efficiency, accuracy of calculations and reduce the time to process Applications for Forgiveness. Please contact any of our team members to set up a Teams/Zoom call.
Geoffrey A. Oliver CPA, CFF, CMB
Chief Executive Officer
The Hilltop Companies LLC
gaoliver@thehilltopcompanies.com
O: 703-356-3350
C: 703-801-1921
Tim McDaniel
Director
Hilltop Advisors LLC
tmcdaniel@thehilltopcompanies.com
Marc Kline
Director
Hilltop Advisors LLC
