The American Institute of Certified Public Accountants (AICPA) and its business and technology arm, CPA.com, today announced the launch of a Paycheck Protection Program (PPP) loan forgiveness platform, PPPForgivenessTool.com, which automates the forgiveness process for small business owners who received funds from the PPP.
The dynamic platform, powered by fintech lender Biz2Credit, incorporates the PPP forgiveness calculator created by the AICPA in May and is available to any business approved for a PPP loan, regardless of the lender or bank they worked with to receive funding. Borrowers or their CPA advisors can log onto the platform to fill out the forgiveness application and the tool produces all government-mandated forms automatically. The PPP applicant will be able to electronically sign the 3508 or 3508 EZ forms and all the required source documents will also be included in a downloadable file that can be provided to their lenders. The platform will likely save hours of manual work for any applicant going through the process.
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