CPAs as Agents for Small Business Administration Paycheck Protection Program (PPP) Loans

CAMICO has received numerous inquiries from policyholders regarding assisting clients with Paycheck Protection Program ("PPP") loans.

Guidance promulgated by the Small Business Administration ("SBA") earlier this week created some confusion regarding the accountant’s role and whether accountants are considered "agents" or "authorized representatives" when performing these services.

Engagement Letter Template: Assistance with SBA Loan Application Process


[Client Representative]
[Client Name]
[Client Address]

Dear [Client Representative]:

This letter is to confirm our understanding of the terms and objectives of our engagement and the nature and limitations of the services we will provide. Please read this letter carefully as it is important to both [Firm] and [Client] that you understand and accept the terms under which we have agreed to perform our services, as well as management’s responsibilities under this agreement.


Template for Communication to Firm Clients

Dear [Name/Valued Client],

As you know, new details about COVID-19 (Coronavirus) unfold hourly. Yet what remains unchanged is [Firm Name]’s dedication to the health and safety of our people, clients, and the communities we serve. While prioritizing safety, we continue to adapt and are taking all necessary precautions with each decision focused around our colleagues and clients as we respond to the rapidly changing environment caused by the spread of the coronavirus.


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