Audit Report - Dr0009 Cpa Customer Guidebook Alt
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- Dr0009 Cpa Customer Guidebook Alt
Summary
A PPP Loan Process Customer Guidebook, copyright 2020 and marked confidential by Biz2Credit, describing the CPA Business Funding Portal, a service of CPA.com used with Biz2Credit's funding platform for the Paycheck Protection Program. The guidebook walks through client steps: completing the Government Declaration, eSigning SBA Form 2483 or 2483-SD, logging in to a Biz2Credit account, adding ACH details, uploading additional documents and eSigning the PPP Loan Agreement. It states that applications submitted to the SBA take no less than 48 hours for a decision and that clients have 10 days to complete ACH details. A closing processing timeline describes the stages from submission to funds sent by ACH or wire transfer.
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PPP Loan
Process
Customer Guidebook
Copyright 2020, Biz2Credit Confidential
The CPA Business Funding Portal for Clients
Two platforms working together to deliver the
Paycheck Protection Program.
CPA firms prepare apps Leading funding platform
AICPA PCPS Tips integrated $3B+ small business financing
A service of CPA.com SBA-approved direct funder
10,000+ practitioners 250,000+ small businesses
The CPA Business Funding Portal does not substitute for clients’ relationship with Biz2Credit. Clients must participate
in the processing of their loan, as required by SBA guidelines. Clients will need to take some actions themselves and
work closely with Biz2Credit representatives to ensure a smooth process. 2
Government
Declaration and eSign
3
Receive email for eSign
4
Complete Government Declaration
(1 of 3)
5
Complete Government Declaration
(2 of 3)
6
Complete Government Declaration
(3 of 3)
7
eSign Form: 2483 or 2483-SD
8
eSign Complete: 2483 or 2483-SD
9
Following eSign, CPA firm finishes the submission
Once the client has eSigned the SBA 2483, the CPA firm receives the form
within their CPA Business Funding Portal dashboard. The firm uploads all
supporting documents as required by SBA regulations and guidelines to
complete the package for submission into the SBA queue with Biz2Credit’s
funding platform. Once ready, the firm will review all information and click
the button to submit the application. From there, the client will receive the
confirmation that their application has been submitted to Biz2Credit and
the SBA queue and will be able to pick up the journey within their Biz2Credit
account.
After submission, firms will be able to track the status of applications as
they proceed through the SBA queue ultimately all the way to funding.
CPAs are able to review all application details they submitted, and they
can see updates about applications on their dashboard as they are
progressing through the process.
However, clients will be required to input information in their Biz2Credit
accounts at some points in the process following submission, as the SBA
requires lenders to work directly with borrowers to ensure compliance.
10
Biz2Credit Account
11
Receive Email to Login
The individual who is listed
as the principal client (on
the ‘Client’ record within
the CPA Portal) will receive
the login with credentials
to access a new
Biz2Credit account.
If the client already has a
Biz2Credit account, they
can login directly and
access their application in
their existing account.
12
Login to Biz2Credit
Reset password if there’s any difficulty using the credentials included in the email
If clients have difficulty
logging into their
accounts they should use
the ‘Forgot Password’
option here to login.
13
User Dashboard – Application Submitted to SBA
It is possible for the
The client dashboard is
SBA to issue an error
where clients will find all
message upon
the information available
submission into
about their application as
their system. If this
it moves through the
occurs, first an
different stages of the
automatic
program.
reattempt is made.
Then a funding
specialist is
assigned for
Applications submitted to
manual review.
the SBA will take no less
than 48 hours before the
SBA issues a decision.
Clients should check back
after that time, and will be Most CPA clients will
notified over email when see a button to ‘Review
they have received an Documents’ since the CPA
approval. firm already provided
documents
14
Adding ACH Details for Funding
Only available if the loan is approved by SBA
Once the client’s loan application
is approved by the SBA, the
client’s dashboard will update to
reflect the new status of the
application and new action items
will be available for the client to
select. This includes the ‘Add ACH
Details’ button.
Clients should be prepared to
provide a voided check and a
bank statement, or else they can
connect to their online bank
account securely – all within their
Biz2Credit account.
15
Upload Additional Documents
(only if applicable)
Firms have already
provided clients with a
complete package for the
PPP based on the
application steps in the
CPA Business Funding
Portal. However, clients
may be asked for a new
document following
submission. If this occurs,
this documents page is
where they can upload
them to their account.
Important Note:
Documents that are listed
in green have already
been uploaded for the
client and do not need to
be uploaded again.
16
Add ACH Details
Required before the loan application can proceed to final loan closing
Clients must complete the ACH
Details set up through their Biz2Credit
account in order for their loan to be
advanced to the loan verification
step. Clients have 10 days to
complete this step.
With Option 2, clients must
upload the voided check
and bank statement
(applicable for loans
above $75,000). The
system will automatically
extract the account
details from the check
they upload to save time.
17
View Saved ACH Details
The ACH information can
be edited once it is input.
Clients can reach this
page by selecting ‘View
ACH Details’
18
Complete ACH Details – application progresses
After finishing the ACH
details, clients’
applications will be
placed into the final
verification queue.
At this stage, a funding
specialist is assigned to
the client. Due to
processing volume,
multiple team members XXXXXXXXXX
may reach out to your
client, but the assigned
funding specialist will be a
point of contact in case
the client experiences
problems during the
process.
19
If More Information is Needed
Following loan verification, it is possible that more information will be needed to complete loan closing
If the client’s application
requires additional
information at the final
step in the loan closing
process, they will be
assigned a funding
specialist who will reach
out to them about the
specific requirements that
have been uncovered by
the verification team.
This is ordinarily due to
missing ACH information
that the client should
provide.
Each circumstance is
unique. Clients will need
to work with a specialist
to complete the review.
20
eSign the PPP Loan Agreement
A request for eSign will go to the client with the loan agreement once verification is complete
Once the client’s application has passed final
verification, the client will be sent a link to eSign
their PPP Loan Agreement. This email will come
from DocuSign and will contain a link directly to
the secure signature page where they can add
their signature and complete the contract.
21
User Dashboard – Funded
Once clients’ contracts
have been signed, the
client will be notified. They
should wait
approximately 48 hours
for ACH transfers to
complete to the account
they listed on file in their
Biz2Credit account.
XXXXXXXXXX
22
PPP Processing Timeline
Minimum Up to Up to About
Minutes 48 hrs 10 days 10 days 48 hrs
Complete the Submission into Client’s application Loan agreement is Funds are sent to
Government SBA and is approved and generated and the client’s
Declarations and timeframe for SBA the final verification sent to the client account via ACH
eSign sent by the decision to be process begins. for eSign. or wire transfer.
client’s CPA firm. made is no less Client must provide Approximate Processing may
than 48 hours. ACH details and processing times take up to 48 hours.
any outstanding are 6-7 business
documents or days right now.
CPA Business Biz2Credit clarifications during Client’s Bank
Funding Portal Account Account
this time.
23
Proud to help
thousands of small
business owners
participate in the PPP
Paycheck Protection
Program Learn more:
biz2credit.com/PPP
24
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