PPP Toolbox

Sector Resources

Paycheck Protection Program

Our library of free resources for managing your PPP loan and forgiveness.

BDO FMA’s PPP Toolbox is designed to support nonprofit organizations as they navigate the Paycheck Protection Program, from Application through Loan Management, Reporting, and Forgiveness.

If you are looking for information to support a small business, please visit the BDO Knows Paycheck Protection Program page.

It has been an honor to support nonprofits as they navigate PPP. We will keep the Toolbox available to you throughout 2021.  Our final email includes our resources for understanding the relationship between PPP and ERTC. Please check out our previous email from 6/10/21 with updates related to PPP forgiveness and key deadlines, as well as our updated webinar recording: How Nonprofits Can Navigate the Forgiveness Process & Application (PPP 402).

Final updates below: Tuesday 8/31/2021

PPP 2021 Funds Depleted: The deadline for those applying for 2021 PPP funds passed on 5/31/21, and the SBA issued a statement on the closure of PPP. There have been no indications that additional funds will be added but we will keep track if that shifts. If you have a pending 2021 application for new funds with your lender, please check with your lender on if they were able to submit to the SBA – the SBA has until 6/30/21 to make a determination on applications.

For nonprofits still looking for relief who were affected by the economic ramifications of the pandemic, we encourage you to learn more about Employee Retention Credits (ERTC) and if you might qualify. You will find relevant resources around ERTC below.

American Rescue Plan Act: President Biden signed the American Rescue Plan on March 11, 2021, which included expansions of PPP to allow (c)(3) nonprofits to have up to 500 employees per physical location of the organization to be eligible for PPP. Download our summary of key changes to PPP from the American Rescue Plan and other clarifications on PPP from the SBA in March. See also summaries of the American Rescue Plan applicable to nonprofits from the National Council of Nonprofits and Independent Sector.

Economic Aid Act: At the end of December 2020, Congress passed the Economic Aid Act that streamlines the forgiveness process for borrowers with loans $150,000 or less, adds the ability for new borrowers to access PPP and for current borrowers to take a second PPP loan to support 2021 payroll and non-payroll expenses, expands allowable non-payroll expenses, and more. Please download our summary of the Act (updated 3/31) for more details. The SBA also released revised forgiveness applications on May 25.

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BDO FMA Resources

General Guidance

Understanding the Employee Retention Tax Credit:
PPP Interactions with ERTC
Updated 8/2021 | Download pdf

Calculating Gross Receipts for ERTC
Updated 8/2021 | Download pdf

How Does the Economic Aid Act Impact PPP for Nonprofits?
4/2021Download pdf

What’s New with PPP – American Rescue Act and More
4/2021Download pdf

Nonprofit Quarterly interviews BDO FMA on the state of PPP in the nonprofit Sector. Read the 12/2020 Interview

Free Tools

Forgiveness Application Simulator & Estimator
Updated 4/2021 | Download xls
This excel tool allows you to enter your organization’s PPP information and produce a printable customized forgiveness application.

Average Weekly FTE Estimator
Updated 4/2021Download xls
This excel tool allows you to enter salary and hours worked data to determine if you will have an FTE penalty when you apply for forgiveness. This is a macro-enabled workbook, so the download link will take you to an external url at bigfiles.fmaonline.net.

Recorded Webinar

How Nonprofits Can Navigate the Forgiveness Process & Application (PPP Clinic 402)
Updated 8/2021 | View Webinar | Download Slides
This slide deck and recorded presentation walks nonprofits through the latest updates to PPP forgiveness as of August 2021, the process for calculating and filing for forgiveness, and tips and tricks along the way.

Other Resources

Forgiveness Application & Instructions

Other Resources

AICPA PPP Resources for CPAs

AICPA Technical Q&A providing guidance on the accounting for the forgivable Paycheck Protection Program loans

Community Development Fund (CDFI) Locator

Federal Government Resources

PPP Second Draw Loans (pdf)
Overview from SBA

PPP Loan Necessity Questionnaire (pdf)
For nonprofits with loans $2M+ from the SBA

Administrative Relief Exceptions for COVID-19 Crisis
OMB Memo on Federal Funding & Double Dipping Issued 6/18
Page 3 of this memo provides guidance on so-called “double-dipping”: “Under this flexibility, payroll costs paid with the Paycheck Protection Program (PPP) loans or any other Federal CARES Act programs must not be also charged to current Federal awards as it would result in the Federal government paying for the same expenditures twice.”

PPP Loan General FAQs As of 7/29/2021

PPP Loan Forgiveness FAQs As of 10/13/2020

SBA Loan Forgiveness Factsheet  As of 10/30/2020

Visit the SBA resource page for other information and regulations issued by the SBA.