What is going on with PPP Loan Forgiveness?

“What is going on with PPP Loan Forgiveness? Can I apply now?”, are two questions many people are asking.

From assisting in fund planning to forgiveness application assistance we are here to help small business owners through it all, start to finish. So, to make your life a little easier here is an updated run down that can save you some time researching how to move forward with PPP Loan Forgiveness:

To make applying for forgiveness super easy download our PPP Loan Forgiveness Checklist!

PPP Loan Forgiveness Updates

  1. Some banks are accepting PPP Forgiveness Applications, your bank may be one of them
  2. Even though some banks are accepting the applications, the SBA still is not accepting or processing them.  Many banks also are being selective about when you can apply.   Bank of America, for instance, will only take your application after your covered period ends. By contrast, TD Bank allows you to apply when your loan proceeds were spent (or incurred) within the covered period. That means you can apply early if you exhaust your funds before end of the covered period. Fifth Third is sending out emails to borrowers in waves in order to provider “better customer service.”
  3. The SBA still has not issued final guidance on the forgiveness, and we do not know when these will be finalized.  Submitting the application now could mean you have to resubmit at a later date should the regulations change, which has been the standard course since the inception of the CARES act.

Here are our thoughts on when to apply for PPP Loan Forgiveness

Our opinion is to hold off until we hear more from the SBA, but it is ultimately at your discretion on when you would like to submit your forgiveness application.  Remember, too, that there’s still a lot we don’t know and you only get one shot at forgiveness. If you’re not absolutely sure you qualify for the full amount of forgiveness, it may make more sense to wait the longest covered period and see where we are then. There’s no deadline for the forgiveness application itself (beyond applying before the loan matures). Just keep in mind that you have to start making payments on the loan 10 months after the end of your covered period.

For a step by step guide on applying for loan forgiveness fill out the form and download our checklist! If you have any questions please email us at info@stratlign.com


Your Guide to Set Up Subcontractors the Right Way

Are you having trouble collecting information from your subcontractors? Download our “Subcontractor Checklist Packet” to know what you need from them for 1099’s, workman’s comp, and liability audits. We’ve even included a contract for reduced liability!

Justice Bragg

Business Development Specialist, Florida

At work, Justice is passionate about helping the team make decisions and connections that propel the business forward. He prioritizes client satisfaction by serving as a medium to facilitate communication to the proper channels making sure every issue is properly addressed.

Outside of work, Justice enjoys exercising by going to the gym and playing pickleball with his friends. He is a self-proclaimed foodie who can’t say no to trying a new restaurant, sometimes even immediately regretting it.

Zachary Williams

Staff Accountant, Florida

At Level Accounting, Zach is responsible for bookkeeping & payroll. He is dedicated to ensuring financial success for our clients.

Beyond the office walls, Zach’s weekends are filled with adventure, whether he’s exploring Florida’s hidden gems with his wife or battling it out in tournaments. When it’s time to unwind, you’ll find him at the movies or casting his line out for a relaxing fishing session.

Melanie Jerome, MBA


Meet Melanie J, one of our senior staff accountants! Melanie ensures your financial health with precision and expertise. Beyond the office, she’s a true crime enthusiast who loves traveling and outdoor adventures. Whether she’s balancing books or exploring new trails, MJ’s dedication and skill set the standard for excellence in our team.

Seren Lunsford, MBA


Meet Seren, one of our dedicated staff accountants here at level accounting! She is responsible for bookkeeping & payroll. Outside of the office, you can find her on the sidelines of a soccer pitch, karting track, or baseball diamond, cheering on her two active boys. Seren is also a proud owner of two gentle giants, her beloved Great Danes. In her downtime, she channels her creativity into baking and decorating sugar cookies, always eager to experiment with new baked goods ideas and recipes. With her expertise in accounting and her passion for family, pets, and baking, Seren brings a unique blend of professionalism and warmth to our team.

Ivette Rivera


Ivette Rivera is our Executive Assistant at Level Accounting, juggling schedules and keeping things running smooth.

When she’s not crushing it at work, Ivette is an avid participant in her church community. As a mom, she’s all about those quality moments, whether it’s baking up a storm, hitting the water for some kayaking fun, or just chilling with a good book or binge-worthy show. And let’s not forget her partners in crime at home: Harley Quinn, the fridge-raiding pit bull, and Atlas, the cat who rules the roost. Ivette’s all about that balance between work hustle and personal bliss.