Customer Care Updates: Training Tips & Best Practices
Today’s session focused on forgiveness application updates: One key area discussed was the basics of forgiveness including starting an application, assigning an application to the borrower and generating an application package. We reviewed an important tip around forgiveness documentation that is not required for applications under $150k. Highlighted also, was a very helpful AICPA resource: PPP Forgiveness Documentation Checklist. The team shared important reminders for firms who have clients with applications statuses of ‘Contract Sent’ and ‘More Information Needed.’ Again, to ensure funding of your client's loan, please reach out to our customer service team for support no later than Friday, June 25^th. We also discussed when and how firms should be using the Portal for forgiveness. The detailed chart can be found in the slides or in the resource accessed at CPA.com/CPABFP-Forgiveness, (which also covers step-by-step how to assign a forgiveness application to the borrower.)

Customer Care Updates: Training Tips & Best Practices
Yesterday’s training tips highlighted a brand-new resource from the AICPA: PPP Forgiveness Documentation Checklist. We also covered the basics of forgiveness including starting a forgiveness application, assigning a forgiveness application to the borrower, and generating a forgiveness application package.

Additionally, important reminders were reviewed for firms with clients who have applications with status’ of ‘Contract Sent’ and ‘More Information Needed.’ Again, to ensure funding of your client's loan, reach out to support for help no later than today, Friday June 18th.

We also discussed when and how firms should be using the Portal for forgiveness. The detailed chart can be found in the slides or in the resource accessed at CPA.com/CPABFP-Forgiveness, (which also covers step-by-step how to assign a forgiveness application to the borrower.)

Customer Care Updates: Training Tips & Best Practices
We covered the most common questions on forgiveness today including:

• Starting a forgiveness application
• Assigning a forgiveness application to the borrower
• Generating a forgiveness application package

Additionally, we discussed when and how firms should be using the Portal for forgiveness. The detailed chart can be found in today’s slides or in the new resource, (accessed at CPA.com/CPABFP-Forgiveness), which also covers how to assign a forgiveness application to the borrower.

Finally, a few important reminders were reviewed ahead of the second disbursement of agent fees:

• Adding banking details for agent fee payment (Firms opting into agent fees must add their bank details to collect the payment.)
• How to opt-out of agent fees

Customer Care Updates: Training Tips & Best Practices
Forgiveness continues to be our focus area for training during these live webcasts as applications open for loans having closed out the minimum required 8-week covered period. Today we reviewed:

• Where and how to start a forgiveness application
• Application options dependent on if the loan was funded through Biz2Credit or not
• Using the new functionality which allows firms to assign the forgiveness application to a borrower
• Overview of the documentation needed (Note, required documentation is dynamic and will change depending on the size of the funded loan. A checklist for this documentation is coming soon.)

Additionally, an important reminder was reviewed regarding the final actions some firms / borrowers need to take to close and fund their loans. If you have a client application with either of these statuses an immediate action is needed:

• Applications with a “Contract Sent” status – this is the final application step and requires a client e-signature as soon as possible.
• Applications in “More Information Needed” status – check for Underwriter (UW) Notes to understand what is missing or email cpasupport@biz2credit.com to inquire.

Customer Care Updates: Training Tips & Best Practices
Refer to this session for tips on:

• The forgiveness application journey
• Using the forgiveness calculators
• Understanding the documentation, you’ll need.
• How to complete a forgiveness package (for use in the case of submission to another lender if your client not funded by Biz2Credit in draw 1)

If you are looking for where to view your agent fee payment, this was covered in today’s Customer Care Reminder section. Additionally covered: using underwriting (UW) notes or contacting customer care for help, resources to support forgiveness engagement with clients and updated forgiveness FAQs.

Customer Care Updates: Training Tips & Best Practices
Today’s Forgiveness tips highlighted the crucial business and ownership details needed to generate an e-signature, as well as how to determine eligibility for forgiveness, including the required documentation for loans less than $150k.

We also shared insights on important topics including: Getting set up with a bank for the payment of agent fees, using underwriter (UW) notes for required documentation upload, resources to support forgiveness engagement with clients and updated forgiveness FAQs.

Customer Care Updates: Training Tips & Best Practices
Learn how to create forgiveness applications whether your client received their loan through Biz2Credit or a different lender.

Highlights of today’s customer care reminders included use of the underwriting (UW) notes functionality, use of the support resources for forgiveness engagement with clients (AICPA Forgiveness Services Matrix and Sample Engagement Letters), and new FAQs for forgiveness.

Customer Care Updates: Training Tips & Best Practices
Kari Hipsak, CPA, Sr. Manager of the PCPS at the AICPA, joined to share important ‘pro tips’ and best practices around using the AICPA calculators for forgiveness applications.

Customer care reminders reiterated continuously important information and action items:

• Using the underwriting (UW) notes functionality
• Adding Banking Details for Agent Fee Payment
• Working with support for DocuSign help
• Trouble shooting Yodlee
• Providing additional requested documentation

Also highlighted were the FAQs hosted at: CPALoanPortal.com/#pppfaq. These are updated frequently, most recently with answers to questions taken directly from the semi-weekly webcasts around forgiveness.

Customer Care Updates: Training Tips & Best Practices
Understand the preparation process for clients who want to apply for loan forgiveness but were not funded by Biz2Credit.

In addition to ongoing reminders from the customer care team on DocuSign help, Yodlee trouble shooting, and new document upload, new reminders included a review of underwriter (UW) notes, and how to add banking details for agent fee payment. Note, if you are expecting UW notes and do not see any in a particular application, reach out to cpasupport@biz2credit.com.

Customer Care Updates: Training Tips & Best Practices
As the PPP winds down, our training continues to focus on providing tips on PPP loan forgiveness. Note, forgiveness applications are open in the Portal and all forms and functionality is available. Keep in mind that the 8-week covered period must be met prior to submitting a forgiveness application.

Key questions and answers the customer service teams have been working through were also reviewed today, including:

• Support for DocuSign
• Yodlee trouble shooting
• Uploading new documents to client applications

Customer Care Updates: Training Tips & Best Practices
In response to questions received on Tuesday, today’s training focused on the PPP loan forgiveness application journey for loans less than $150k. Tips from the AICPA PCPS team were also shared around using the loan forgiveness calculator.

For firms still working to process client applications, our customer care reminders included why and when to contact support for DocuSign help, Yodlee trouble shooting, and a deeper review of how to use the underwriting (UW) notes in the Portal.

Customer Care Updates: Training Tips & Best Practices
Shifting focus to forgiveness, today’s training built on Thursday’s presentation providing more best practices and key areas to focus on when completing and submitting a loan forgiveness application in the Portal. New remainders included trouble shooting Yodlee connection issues and clarifying who to reach out to on the customer care teams for particular help items.

Customer Care Updates: Training Tips & Best Practices
View and understand the step-by-step forgiveness application journey and revisit important forgiveness due dates, resources, and tips for prep with clients.

The team also highlighted several reminders including: Why your client may need to use Yodlee, what to do if they are having trouble with the connection, what forgiveness actions you can and cannot currently take in the Portal, special communications sent to firms last week, new required documentation (Form 1099) for independent contractors and updated FAQs around draw 2 loans for borrowers who took draw 1 in 2021.

Portal Operational Update
As we near the final days of the program, it’s important that firms work with clients to make final decisions on open applications. This includes applications with the ‘More Information Needed’ status. Those requirements must be completed by June 25^th. We reviewed the most common reasons for applications under the ‘More Information Needed’ status and what steps firms need to take to move the application into funding stage. We touched upon a popular question around the status of agent fees. Key information shared around this topic was that firms that have all their deals finalized by end of May are being paid 100% by end of June. The rest of the applications currently in process will be paid in July once those applications are funded at the end of this month. As we reviewed our roadmap, we looked at what role the CPA Business Funding Portal can play in helping firms serve their clients in the future. Three key areas were identified based on the feedback we have heard from you. These areas include providing additional forgiveness support, launching new financial products in the post-PPP world and finally, new wider integrations into the applications CPA firms are already using in their practices.

Portal Operational Update
As we near the final days of the program, it is important that firms work with clients to make final decisions on open applications. This includes any applications with the ‘More Information Needed’ status. Those requirements must be completed by June 30th.

And as we turn towards forgiveness, we reviewed in-depth the opportunity to support clients with this service offering. We also highlighted the new resource that firms can share with their clients: PPP Forgiveness Required Documents, customer guidebook.

Finally, we reviewed the eligibility, processing and status of agent fees followed by answering frequently asked and important customer questions during the Q&A portion of the update.

Customer Care Updates: Training Tips & Best Practices
Kari Hipsak, CPA, Sr. Manager at AICPA PCPS joined to share important ‘pro tips’ around forgiveness and applying for a 2nd draw loan after receiving a 1st draw in 2021. Immediately following, the CPA.com customer care team reviewed the process in the Portal for creating a 2nd draw loan application and a loan forgiveness application package for borrowers to submit to their original 1st draw lender.

Two new reminders to note were also shared:

1. Special communications sent to firms last week notifying them of instances where an immediate action could be taken to expediate application processing for specific clients.
2. Required documentation (Form 1099) for independent contractors.

Lastly, tips were shared for firms not seeing agent fees in their commissions report.

Customer Care Updates: Training Tips & Best Practices
Learn when and how to apply for a 2nd draw loan for your clients, keeping in mind the 8-week minimum covered period.

The webcast also highlighted when and how borrowers should withdraw applications, as well as how to modify applications with validation errors. (Please note: Your client may have an error code related to a first draw loan from a different lender. If that’s the case, have your client reach out to that lender for the necessary information.) We also shared important reminders for using the underwriter (UW) notes functionality and what to do if your client’s application has been e-signed and sent to accounting, but hasn’t yet been funded.

Recommendations on 2nd Draw Applications
Learn when and how to apply for a 2nd draw loan for your clients, keeping in mind the 8-week minimum covered period, especially for borrowers who took their draw one in 2021.

Customer Care Updates: Training Tips & Best Practices
Review important tips from previous live updates around resolving error or validation code issues by the borrower that continue to be vital when moving your clients’ applications forward. Also discussed were best practices and reminders on preparing for forgiveness.

Customer Care Updates: Training Tips & Best Practices
Learn how to resolve three of the most common application processing issues:

• Application is submitted but there’s no E-Tran number (Validation Error)
• Application is approved with the status “More Info is Needed”
• Application status is “Contract Sent” but the loan has been funded (Not triggered)

Additionally covered was a reminder on locating and creating a 2nd draw application.

Customer Care Updates: Training Tips & Best Practices
Learn how to use the newest feature on the Portal, which allows CPAs to collaborate and communicate with the verification funding team and hear tips from the AICPA PCPS team for sole proprietors applying for 2nd draw loans after taking their 1st draw in 2021. We also highlighted an explanation of the shorthand used by underwriters, which can sometimes be difficult to understand, along with a few more reminders from the Customer Care teams.

Customer Care Updates: Training Tips & Best Practices
Recap best practices for securing a second draw loan for 2021 first time borrowers and tips for Schedule C filers having difficulties opening a business-specific bank account. Don’t forget to tune in next week as we provide a detailed overview of the forgiveness process within the Portal.

Customer Care Updates: Training Tips & Best Practices
Get a refresher on using Yodlee, (Biz2Credit’s secure, third-party account verification tool), and how to create a non-editable PDF. Also learn what you can do to continue supporting clients with PPP if you are a non-CPA user.

Customer Care Updates: Training Tips & Best Practices
In addition to information on 2nd Draw for 2021 1st time borrowers, today’s update reviewed tips for Schedule C filers having difficulties opening a business-specific bank account and seeking to withdraw an application that has been submitted to the SBA and has an E-Tran #.

Customer Care Updates: Training Tips & Best Practices
Learn some of the top common mistakes to avoid and hear how to prepare clients should this lead to verifier rejection. Also covered were best practices relating to:

• Using Yodlee
• Creating non-editable PDFs for document upload

Customer Care Updates: Training Tips & Best Practices
Hear tips on preparing for Forgiveness and a reminder on the benefits of uploading ACH information prior to submitting your clients’ applications to the SBA.

Customer Care Updates: Training Tips & Best Practices
Learn how the recent IFR updates impact the Schedule C application process and submission scenarios.

Customer Care Updates: Training Tips & Best Practices
Today’s tips covered several important topics, including:

• Required verification steps
• Resolving the issue of a 2483 form not populating
• Special outreach to firms
• Withdraw requests for applications with an E-Tran #

Customer Care Updates: Training Tips & Best Practices
Today’s focus areas included a few important tips and reminders:

• Upload missing ACH information. A common issue and resolution found with a “More Information Needed” app. status.
• Modify the application for your client if they are notified of a validation error.
• Confirm accurate information if using the 2020 Schedule C draft returns.

Customer Care Updates: Training Tips & Best Practices
Kari Hipsak, CPA, Sr. Manager Firm Services at the AICPA provided PCPS Pro Tips relating to PPP application revisions for Schedule C borrowers, including:

• New loan application forms (2483-C and 2483-SD-C)
• Using gross income with Schedule C (highlighting $150,000 threshold)
• Second Draw owner-employee compensation (highlighting NAICS 72 entities loan amount.)

Plus, additional best practice reminders from the CPA.com team.

Customer Care Updates: Training Tips & Best Practices
Presented by the CPA.com team, this section covered an ongoing curriculum of platform-related best practices, and reminders on available support resources. Today’s focus is around the Schedule C application process under the new guidance. Additionally, also helpful tips around agent fees.

Customer Care Updates: Training Tips & Best Practices
3/4 training included: a review on managing the SBA validation error flagged as “duplicate loan,” and tips on newly launched functionality for ACH upload by firm users and the application funnel report. Additionally shared were best practice reminders on avoiding mis-calculated loan amounts and correctly uploading document types to their corresponding fields.

Customer Care Training Tips & Updates
Our 3/2 training focused on the current post submission application journey, error resolution strategies and agent fees opt-outs. Additionally, a review of the existing resources available on-demand and where to go for support.

2.23 Best Practices Training
Kari Hipsak, CPA, Sr. Manager of Firm Services at the AICPA, reviews common application mistakes firms should avoid.

Customer Care Update
Hear from Jessica Clemons, Customer Success Manager at CPA.com, review our resource hubs, differences in customer care teams, and some of the top support inquiries.

AICPA PCPS Pro Tips: Application Insights
Kari Hipsak, Sr. Manager Firm Services at the AICPA reviews what firms should consider around key platform inputs on loan eligibility and ownership information.

Application Tips from the AICPA
Kari Hipsak, Sr. Manager Firm Services at AICPA, provides advice for firms using the CPA Business Funding Portal in streamlining the experience for clients.

Portal Operational Update
There was no new information covered in today’s Operational Update. We again discussed the final phase of the program, outstanding needs for loan applications with the “More Information Needed” statuses, and the payment and processing of agent fees.

We also reviewed forgiveness application eligibility and assigning a forgiveness application to a borrower.

Portal Operational Update
Topics covered in today’s Operational Update reiterate previous items around the final phase of the program, the payment and processing of agent fees, and outstanding needs for loan applications with the “More Information Needed” statuses.

Also, echoing the customer care training was an review of forgiveness application eligibility and assigning a forgiveness application to a borrower.

Portal Operational Update
Tune in to this update for important details on the final phase of the PPP including a reminder that your client will not be eligible for funding if their application is not into the SBA by Monday, May 31. Since submission of new applications through the Portal is closed, we covered how to assist clients with applying through a Community Financial Institution (CFI) and highly recommended that firms do this by tomorrow, Friday 5/28 at the latest.

A deep dive on agent fee payment was also reviewed including the processing /disbursement timeline, where to find invoices and how to see what has already been paid and what is pending. We encourage you to review your commission report to confirm the payments you are expecting are correct. If anything does not align with your expectations, please email cpasupport@biz2credit.com as we are aware that discrepancies are a possibility.

Additionally, a new feature was highlighted: Assigning forgiveness application to the borrower. Please note, should you and your client choose to go this route for forgiveness, this will not be reversible.

Portal Operational Update
The PPP will official close on May 31 with the SBA continuing to approve applications through June 30th. Today’s operational update dove into the details firms should know going into these final days, including what statuses will mean for applications with an SBA validation error or hold code.

We also shared information on agent fee payments and processing, with the initial payment being disbursed to firms by the end of May. (Firm administrators should check their Commission Report page to review loans that will be eligible to receive Agent Fees.)

Additionally, we covered another in depth review of what to know and what to do with applications in the ‘More Information Needed’ status.

Portal Operational Update
Several important topics, some with firm and/or client action items were covered including:

• Application Statuses for Error Applications
• Agent Fee Payments and Processing (Specifically note the information on preparing for fee disbursement. ACH information must be in your firm’s profile by tomorrow, 5/21.)
• More Information Needed Applications
• Community Financial Institutions (CFIs) (Note, almost $5B in funding remains available through CFIs. Clients who need to submit new applications or who were unsuccessful with Hold Codes should apply before next week.)

Additionally, we answered new customer questions during the Q&A portion of the update.

Portal Operational Update
Review details and insights on where we stand in the overall arch of the PPP. Learn about the application status you will see in your dashboard for clients with applications that have error or hold codes. Gain an understanding of agent fee payments and how to ensure you receive the payment by adding your bank account information. Additionally, the team answered new customer questions during the Q&A portion of the update.

Portal Operational Update
Further details and resolutions were provided on the coming end dates for loan processing from the SBA. We continue to encourage firms to look at every application individually, as soon as possible, to understand why they may be held up and take steps needed to move them towards funding, if possible.

Portal Operational Update
Following a review of the current PPP timeline, today’s update covered important information firms and their clients need to know about the next steps for loan applications now that the general funding has expired, including:

• Handling various SBA error and hold codes – It is important to note that SBA Compliance Check & Hold Codes must be cleared by May 15 to secure funding from the $6B set aside by SBA. If Codes are not resolved by then, the funds might not be available.
• Defining updated application statuses for applications with errors and explaining actions to take.
• “More Information Needed” applications – PPP Loan applications that are in a ‘More Information Needed’ status generally have one of three requirements outstanding that firms and their clients need to complete.

Portal Operational Update
New elements were added and reviewed in the PPP timeline and important items firms should note were discussed, including:

• Dashboard updates – PPP Loan applications that can no longer be processed will be marked with a new status.
• Community Financial Institutions – Going forward, the program will only accept new applications from Community Financial Institutions (CFIs), who typically serve minority borrowers. SBA has set aside approximately $8 billion in funding for such lenders to make PPP loans.
• “More Information Needed” application status – PPP Loan applications that are in a More Information Needed status generally have one of three requirements outstanding that firms and their clients need to complete.
• Agent Fees – With the close of application submissions, reconciliation will proceed on the initial Agent Fee payments that are due to eligible firms.

Portal Operational Update
Learn details around the newly announced May 10th application deadline. Important timing considerations were also covered including applications with validation errors that potentially need to be revised or resubmitted.

Additionally, more clarity and suggested steps were provided surrounding the application status, “More Information Needed.” It is highly recommended to check back on these applications daily as there may be multiple phases to move an application forward if held in this processing stage.

Portal Operational Update
Get a clear picture on the upcoming PPP timeline, especially as it relates to application processing pauses or closure. Learn critical documentation reminders, which are important to support complete, accurate and authentic loan applications. Implications of incomplete or tampered documentation could result in an audit or investigation by the SBA. Please pay attention to warnings or alerts within the Portal as you work through your clients’ applications.

Additionally, the team answered new customer questions during the Q&A portion of the update, including:

• My client received a Second Draw PPP loan before the full 8-week period was completed on the First Draw PPP loan. What should I do?
• Some of the applications I have submitted on the portal have been withdrawn or the loan application has been declined. Why could this have happened?
• If my client is experiencing an SBA processing error, or their application has been withdrawn from the SBA system, can they apply with a different provider?

Portal Operational Update
Further details were discussed around guiding independent contractors, important documentation reminders and upcoming forgiveness journey processes and resources. Additionally, new customer questions were answered during the Q&A portion of the update.

Portal Operational Update
Hear advice on preparing for upcoming PPP deadlines and next steps in the process surrounding loan forgiveness. Borrowers funded through the CPA Business Funding Portal will have a unique process for forgiveness; their application will be pre-filled with the original loan information, allowing for a more streamlined experience.

We also shared helpful tips for supporting PPP loan applications for independent contractors, (‘gig’ workers such as Uber or Lyft drivers).

Portal Operational Update
Hear essential advice from the Biz2Credit team on the PPP processing timeline around the submission stage and working with underwriters. (Including a reminder about this helpful UW shorthand cheat sheet.) In addition, an explanation of draw two application conditions was reviewed, including how the Portal functionality has been updated to avoid confusion for firms and borrowers.

Portal Operational Update
Today’s update included an overview of the latest Portal enhancements, a refresher on the PPP processing timeline and expectations, a detailed explanation on the Draw 2 application conditions, quick reminder on additional verification steps and a review of the resources available to help answer questions.

Portal Operational Update
Get a refresher on the "PPP firm to lender workflow" and an updated processing timeline as well as a reminder on accessing, viewing/exporting, and receiving payment of Agent Fees for funded applications. Additionally, we shared answers to more common and important questions from Portal users.

Portal Operational Update
Important new functionality has launched. As mentioned on Tuesday’s live update, new features have now been added to the CPA Business Funding Portal to facilitate collaboration and communication between CPAs and the verification funding team. Specific functionality includes:

1. Underwriting (UW) Notes – If the underwriter has left a note on the case, you will be able to view it on the dashboard under the application dropdown menu.
2. Conversation Thread – You can respond to the underwriter for your application directly in the conversation window. The underwriter will indicate which additional document is requested.
3. Unload Required Documentation – You can upload the requested document directly in the conversation window, and your underwriter will receive the document in the system in real time.

Portal Operational Update
The latest IFR requires proof that the business was in operation on February 15, 2020. This documentation is essential eligibility criteria and applications cannot proceed to the funding stage without it. Please prepare clients for this step and collect the necessary information for upload.

Coming soon, CPA firms will have the ability to collaborate more closely with the Biz2Credit funding team to help minimize the back and forth and expediate resolution of ‘more information needed’ requests. These features will significantly improve the funding experience and allow firms to further demonstrate their value in this PPP process to clients.

Additionally, we shared answers to more common and important questions from Portal users.

Portal Operational Update
Get a refresher on why adding ACH details (correctly) are vital to ensuring your clients applications proceed smoothly to final loan closing. Additionally, we answered more common and important questions our teams have recently received.

Portal Operational Update
Learn about the newly released guidance and functionality that allows borrowers to apply for a 2nd Draw PPP loan after receiving a 1st Draw loan in 2021.

Important Information on Additional Application Verification
Today’s updates provided guidance on resolving issues found on thousands of applications in the final stages of verification but are on hold due to missing requirements, mistakes, or need additional information.

Please note that special communications are being sent to the firms which have client applications that fall within these situations. We advise firms to lookout for these communications if applicable and check with clients who may have overlooked an email from a Funding Specialist.

Portal Operational Update
In addition to the information on additional application verification steps, this update covered the timeline of major updates to the PPP and provided answers to more of the most commonly asked questions.

Required Verification Process
The Portal is a compliance tool specifically developed for CPA firms, Accounting Firms, Tax Professionals, Attorneys, Enrolled Agents (EA), and Certified Financial Planners (CFP) actively supporting their clients as part of the PPP application process. All users of the CPA Business Funding Portal must be independently verified by Biz2Credit and CPA.com. Complete the verification form. (*Do not resubmit if already completed.)

Portal Operational Update
Hear how the Portal experience is being updated for Forgiveness applications and the new second draw loans for 2021 first draw borrowers. Additionally, learn more about how and why you should consider signing up for the CPA Directory.

Portal Operational Update
The update today reviewed our recommendation to firms with applications in progress ahead of the current March 31st deadline and information regarding the verification process, a temporary pause for new account sign-up, implications of the major updates during this round of the PPP, and more. Additionally, we answered more of the most commonly asked questions.

Portal Operational Update
Today’s update focused on the new firm verification process and reminders of some of the latest enhancements to the Portal experience. Additionally, time was spent reviewing and answering many common and important questions our teams have recently received.

PPP & SBA Updates
Discussion focused on the news expected to be announced next week regarding a possible PPP deadline extension through May 31.

CPA Business Funding Portal Operational Update
Review enhancements incorporated into the platform recently with a focus on:

• Expanded number of API Validation Error Codes which can resolved by the borrower (21 new in addition to current 4)
• Implementation of gross income (line 7 vs line 31) as an application choice for Schedule C filers

SBA and PPP Update
An important update from the CPA.com and Biz2Credit leadership on the state of PPP program and the marketplace surrounding it. Three key highlights included:

• New IFR around sole proprietors now implemented into the platform with a better user experience. This includes the new form 2483C which is now accepted into the platform.
• Guidance on using draft 2020 returns for Schedule C applicants.
• AICPA Calls for PPP Deadline extension.

CPA Business Funding Portal Operational Update
A status update on the application processing and a review of the new enhancements incorporated into the platform this week. Highlights include:

• SBA updated rules and IFR guidance completed updated into the CPA Business Funding Portal. Applications for businesses with 20+ employees will resume on March 10,2020.
• Review of submission process around gross income for sole proprietors and other IFR related changes now available within the platform.
• Additional tips: Sorting ability added to the application dashboard; using the ‘View Application’ page with clients.

SBA Application Processing Updates – 3.3 IFRs, Explained
Learn how the new Interim Final Rules (IFR), distributed March 3 to lenders, will change the PPP application process for borrowers. The most significant changes are revisions to loan amount calculation and eligibility for Schedule C Filers.

PPP & Portal Updates and Guidance on Schedule C Filers
Hear the discussion on overall PPP status updates as well as where sole proprietor rules stand, and guidance on action to take.

Operational Updates – Error Code Resolution & New Features Review
Learn the most common error codes and how to direct clients to manage the resolution process directly within their Portals. Additionally, review our a newly launched funnel report which helps firms visualize client application progress within a single screen.

SBA Application Processing Updates
In response to Monday’s announcement from the White House, firms should be aware of the process changes and potential impact on clients which include: 2-week priority to smallest businesses (20 or fewer employees) and guidance when filing applications for sole proprietors.

Operational Updates – PPP Application Errors Handling
This update discussed the PPP error resolution strategy in detail as well as reviewed what you and your clients need to know about the validation response messages.

Recent Changes to the Paycheck Protection Program
The Biden-Harris Administration announced changes to the PPP that will adjust multiple aspects of the program. Learn more in the resources below.

Operational Updates on Validation Errors
The SBA has not yet provided definitive guidance on these errors, but Biz2Credit has taken a proactive approach in providing a resolution. Learn more below.

SBA Error & Hold Codes – Updates and Explanations
Review of the multiple phases of SBA validation, compliance checks and decision logic as well as updates to the CPA Business Funding Portal operations for handling error and hold codes following the SBA procedural notice.

SBA Error & Hold Code Updates and Submitted Status Review
Overview of error and hold code updates followed by a thorough explanation of the process an application may go through after submission to the SBA.

ACH Details Process Review
Guidance to share with your clients on the ACH/bank information upload process and timeline.

Correcting Common Issues: Tax Id (SSN/EIN) mismatch, and loan amount different than originally applied
Review of two common issues within the loan applications and corrective action that can be taken to rectify them.

Loan Application Withdrawal Process
Review of the process when a firm wants to withdraw a client’s loan application pre and post approval.

SBA Hold Codes, Challenges & Processes
Overview and discussion on SBA delay updates and how CPA.com and Biz2Credit are working to ensure a successful application process for clients.

SBA Key Status Detail 'Cheat Sheet'
Further explanation of the full scope of SBA processing post-submission.

Important Notice: Check Loan Amount
Continued reminder to firms of a critical step in the PPP loan process: Clients must review their loan details prior to executing a contract. (The final agreement amount may differ from the initial request due to SBA caps.)