As business owners are starting to receive Paycheck Protection Program loans, they are faced with the challenge of what, and how, to collect all the data they need to ensure their loans are forgiven. P3 was created to make the entire process easier for all involved and give CPAs a convenient tool with which to help their clients gather what they need during the eight weeks after receiving their loans.
P3 is an easy-to-use online portal and tool that gives CPA firm clients one central location to upload all of their supporting documentation and see the percentage of forgiveness in real time. As their advisors, you can review this information and add value by supporting them on what else is needed and how to complete the process from a single dashboard.
“We realized that our clients would benefit from a simple way to collect and track their loan documentation, so we developed this for internal use. But as it came together, we realized that most businesses and their advisors are overwhelmed and could use it as well. We wanted to make it available to all CPAs and business advisors at a reasonable price so we can all assist our business owner clients during this challenging time,” said Jay Robbins, AGL CPA partner and a P3 founder.
P3 allows advisors to review client information at any time advise clients through the application. Because it greatly reduces the time required to acquire documentation, advisors can focus on adding value to their clients worried about keeping their businesses afloat. Additionally, firms can brand the portal with their own logo and link from their websites or social media pages.
Another P3 founder and AGL CPA partner, Bradley Sienkiewicz said, “After speaking with nearly all of our clients during the initial phase of the application process, we realized that the forgiveness piece was going to be problematic. We simply did not have enough hours in the day to answer every detailed question from our clients. So, we started down the path of creating a new portal system, which quickly evolved into a complete real-time application. This essentially allowed us to monitor and advise clients on an ongoing basis without having to spend billable hours updating spreadsheets.”
To learn more, go to https://pppportal.com/cpa/.