Podcast Episode Details

Is PPP Failing? We Get Answers from the AICPA

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Episode 170

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Links

AICPA statements

• AICPA plan to use payroll processors [press release update]
• Fees on PPP loan prep [press release]

Statements from the administration on PPP processing and/or disbursements:

• VP Pence on 4/7 saying 71B has been disbursed
• Kevin McCarthy on 4/8 on Fox News saying we got 70B out in two days and “this has been a very successful program when you look on every angle”
• Mnuchin said on 3/31 that “Treasury and the Small Business Administration expect to have this program up and running by April 3rd so that businesses can go to a participating SBA 7(a) lender, bank, or credit union, apply for a loan, and be approved on the same day.”

Research

• According to the JPMorgan Chase Institute, about half of all small businesses have a cash safety net worth less than 15 days: https://institute.jpmorganchase.com/institute/research/small-business/small-business-cash-liquidity-in-25-metro-areas

Connect With our Guests

• Erik Asgeirsson, CEO at CPA.com
• Mark Koziel, EVP of Firm Services at AICPA

Get in Touch

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