P3 portal launched to help with PPP loan forgiveness
New online portal tool P3 was launched to help CPA firms and clients navigate and document the Paycheck Protection Program loan process.
Founded by Atlanta-based AGL CPA partners Jay Robbins and Bradley Sienkiewicz, P3 is a centralized location for CPA firm clients to upload supporting documentation for PPP loan forgiveness and view the percentage of forgiveness in real time. CPAs can use the portal to review this information and advise on what else is needed to complete the process within the eight-week forgiveness period.
The House voted on Thursday to extend that period, with more flexibility to spend forgivable loans for payrolls and expenses, sending the measure to the Senate. P3 offers a single dashboard for CPAs and their clients to monitor compliance with these deadlines.
“We realized that our clients would benefit from a simple way to collect and track their loan documentation, so we developed this for internal use,” said P3 co-founder Jay Robbins in a statement. “But as it came together, we realized that most businesses and their advisors are overwhelmed and could use it as well. We wanted to make it available to all CPAs and business advisors at a reasonable price so we can all assist our business owner clients during this challenging time.”
CPA firm users can also brand the portal with their logo and links to their website and social media.
“After speaking with nearly all of our clients during the initial phase of the application process, we realized that the forgiveness piece was going to be problematic,” said P3 co-founder Bradley Sienkiewicz in a statement. “We simply did not have enough hours in the day to answer every detailed question from our clients. So, we started down the path of creating a new portal system, which quickly evolved into a complete real-time application. This essentially allowed us to monitor and advise clients on an ongoing basis without having to spend billable hours updating spreadsheets.”