Manage all your clients' PPP business relief needs in one place
CPA.com and Biz2Credit
Business Funding Portal
CPA Business Funding Portal - Firm Onboarding, 2021
Important information for firms and their clients navigating PPP.
Simple sign-up. Important opportunity.
Simplifying business relief and financing for firms and their clients.
As a trusted advisor to your clients, you play a crucial role in helping them navigate the complex world of PPP business relief and financing. Your expertise is an invaluable resource, and few things are more critical when helping a small business thrive and grow.
Often though, these processes can be inefficient and labor intensive. Then magnified when you have large blocks of clients to support.
That’s why CPA.com, in partnership with Biz2Credit, developed the CPA Business Funding Portal, a cloud-based platform designed specifically for CPAs and CPA firms.
The CPA Business Funding Portal is a firm-wide solution that enables CPA firms to offer Business Relief Advisory services that are scalable, and profitable. With this platform, you can more confidently provide PPP2 loan application and PPP loan forgiveness support to clients, managing all needs through one streamlined tool.
CPA Business Funding Portal – Subscription Options
$1,499 per year
*Enhanced forgiveness features include: automatic bank statement and utility data imports, and AICPA forgiveness calculator import.
The business funding solution is designed to streamline the application process with benefits including:
Important Resources & Information
Expand each section below to view and access applicable support resources for you and your clients.
PPP resources, updates, and information
Biden Changes P.P.P. Rules to Help the Self-Employed
Fraud Checks and Errors Slow Small-Business Relief Loans
Semi-Weekly Customer Service Update Webinars: Key Highlights and Accompanying Commentary
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.
Customer Care Training Tips & Updates
The CPA Business Funding Portal team reviewed two best practices to better optimize your experience: the six client e-signature steps and why you should review each application after the client e-signs and prior to submission.
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.
2.23 Best Practices Training
Kari Hipsak, CPA, Sr. Manager of Firm Services at the AICPA, reviews common application mistakes firms should avoid.
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.
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.
ACH Details Process Review
Guidance to share with your clients on the ACH/bank information upload process and timeline.
Customer Care and Operational Update
A collective review of resources and support options available to firms from the CPA.com and Biz2credit teams.
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.
ACH Process Change Update
Simplified experience for borrowers: Biz2Credit is no longer using a third-party service to verify client bank accounts for funding disbursement.
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.)
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.
Agent Fees, Explained
Discussion on the agent fee structure and process update ahead of the SBA/Treasury pending guidance.
Enhancements to the CPA Business Funding Portal Dashboard
Review of the various resources and updates made to the dashboard within the portal.
Your key questions, answered here.
*FAQs will continue to be updated as we receive / confirm information.
For more FAQs visit CPALoanPortal.com.
Can I participate in the Paycheck Protection Program (PPP) if I received an Economic Injury Disaster Loan (EIDL)?
Yes, you can participate in both the PPP loan and/or a Second Draw (aka PPP2) and EIDL programs. Initial guidance indicated the EIDL advance would reduce PPP forgiveness. Recently released legislation clarified this position and the EIDL advance does NOT reduce forgiveness.
Does CPA Business Funding Portal support the payment of agent fees?
Yes. As part of the user agreement, CPAs or other advisors are entering into an agreement with Biz2Credit and are eligible to receive agent fees. Only paid subscribers of the CPA Business Funding Portal are eligible to receive agent fees for applications that are funded directly through Biz2Credit, subject to the application limits of the selected subscription plan.
CPAs have an option to ‘opt-out’ of receiving agent fees if they so choose.
How much are the agent fees?
The amount of the Agent Fees is determined by the final guidance issued by the government and may differ depending on if a loan is considered a 1st Draw or 2nd Draw. In either case, they shall not exceed 1% of the total loan amount.
The agent fee shall not exceed:
- 1.0% for loans up to $350,000;
- 0.50% for loans between $350,000 and $2 million; and
- 0.25% for loans of $2 million or more
Based on discussions, we believe an additional tier for loans below $50,000 will be added.
- We expect the agent fee for this tier to be lesser of 10% loan principal or $500.
How do I provide Business Relief Advisory Services, including managing clients’ PPP applications and forgiveness through a lender, without impairing our firm’s independence?
Please review the AICPA’s position in this article: Update: Impact of accepting PPP agent fees on independence
For additional guidance, please consider Risk Alert: Round Two – Paycheck Protection Program Loan Application Assistance and Forgiveness Application Assistance Services.(This resource includes two sample engagement letters.)
Can you apply for a Second Draw loan before you receive forgiveness for your original PPP loan?
Yes, you may apply for a Second Draw loan if you have used, or will use, the full amount of the original PPP loan.
Who can I contact for technical support?
Please send an email to email@example.com for customer support related issues on the CPA loan portal.
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