As businesses across the United States continue to adapt to address the challenges of the COVID-19 pandemic, financial stability and getting back to work remains top of mind. A leader in providing HR Solutions, benefits, payroll, and insurance solutions, Paychex, today announced that it has enhanced its PPP (Paycheck ProAs businesses across the United States continue to adapt to address the challenges of the COVID-19 pandemic, financial stability and getting back to worktection Program) solution to generate a signature-ready application that simplifies the process of applying for PPP loan forgiveness for clients.
With reference to its initial press release of June, Paychex Flex, the cloud-based HR technology platform of the company, the Paychex PPP Loan Forgiveness Estimator and Reporting tool have been upgraded to give customers the capability to generate signature-ready copies of their forgiveness application. This involves support for both the Small Business Administration’s Loan Forgiveness Application and the Loan Forgiveness Application Form 3508EZ Application. The Loan Forgiveness Estimator automatically populates with payroll data of a customer and allows them to enter other applicable non-payroll costs. While in Paychex Flex, after validating the accuracy of all data and permitting for any adjustments, clients can rapidly and easily generate and print a signature-ready forgiveness application.
President and CEO of Paychex, Martin Mucci said that “Paychex was the first provider in our industry with PPP reporting offerings, which included a comprehensive loan application report and a significantly more powerful online loan forgiveness estimator that is completely integrated with payroll to make sure that business owners are leveraging all eligible dollars for loan forgiveness. We’ve quickly provided our customers with the tools required to obtain $28 billion in PPP loans, which might turn into grants that will help them secure the financial relief they need to keep their businesses functioning during the crisis. The ability to construct a signature-ready forgiveness application presently improves on what was already is a leading solution in the market and makes an extremely complex process as easy as possible for our clients.”
The signature-ready forgiveness application function is available to all Paychex Flex users as part of their payroll service at no additional charge. It will also be available to the users of Oasis, a Paychex company, in the coming weeks.
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