• Register
Return to: Home > News > AICPA, CPA.com and Biz2Credit launch platform for small business funding

AICPA, CPA.com and Biz2Credit launch platform for small business funding

The American Institute of Certified Public Accountants (AICPA), its business and technology arm, CPA.com, and fintech Biz2Credit are collaborating on a platform, CPALoanPortal.com, to streamline the process for CPA firms advising small businesses both on loan forgiveness under the Paycheck Protection Program (PPP) and additional small business financing options that clients may need to fund growth.

The platform adds CPA-centric capabilities to the automated PPP loan forgiveness tool (PPPForgivenessTool.com) the companies introduced in July.  It incorporates the PPP forgiveness calculator developed by the AICPA and is available to any business approved for a PPP loan. The platform produces all government forms required under the PPP program, supports calculations on payroll and other expenses, and produces a master report with the applicant’s electronic signature that can be delivered to the underwriting lender.

The basic loan forgiveness tool is included in CPALoanPortal.com, with enhanced functionality now available specifically for CPA firms to support clients more efficiently. These features include:

  • Functionality that allows firms to easily aggregate clients, customize engagements and track progress on loan and financing applications
  • Integration to additional lending options for clients
  • Enhanced customer service for CPA firms

Two subscription tiers, premium and enterprise, are available based on the number of users and volume of loan applications a firm is managing. The original basic loan forgiveness application service remains free.

CPA.com president and CEO Erik Asgeirsson said: “Over the past six months, CPA firms have played a defining role with their clients around the different business relief programs, especially the Paycheck Protection Program.

“We have been helping the 44,000 firms provide advice and direction to their clients through our weekly AICPA Town Halls and resource tools. We’re now taking the next step in launching a cloud-based business relief platform for firms to use in providing these services. In many ways, this is developing into a strategic service line for firms and it is important for them to have professional tools to support it.”

Top Content

    HONG KONG NATIONALS: UNDERSTANDING VISA AND TAX WHEN MOVING TO THE UK

    Over 2 million Hong Kongers learned recently that they may soon be offered a route to UK citizenship following China’s introduction at the end of June of its controversial Security Law in the territory.

    read more

    SASB IMPLEMENTATION SERIES: COMMUNICATING ESG TO MAINSTREAM INVESTORS

    As part of a series of webinars, the Sustainability Accounting Standards Board (SASB) took a closer look at how to communicate ESG initiatives and progress to mainstream investors

    read more

    REPORTING AND COMPLIANCE: WHY WE NEED A DATA REVOLUTION

    Commerce no longer adheres to national boundaries: the largest international organisations to the smallest businesses operate in a global market. However, rules for corporate reporting and compliance do adhere to borders, write IMA’s Jeff Thomson and Liv A Watson

    read more

    CORONAVIRUS TIMELINE: REACTIONS FROM THE ACCOUNTANCY PROFESSION

    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.