PPP LOANS – A TEMPORARY FIX
[Infographic]
PPP LOANS – A TEMPORARY FIX
January 13, 2021
In 2020, Congress authorized two rounds of the PPP loan program to provide economic relief to small businesses due to COVID-19. The program provided forgivable loans to cover 8 weeks of payroll, and other costs to help small businesses remain viable.
Tax Guard compared payroll tax deposit data for PPP recipients and non-recipients in order to assess how the PPP could impact credit risks. Commercial lenders should follow these trends, since failure to make payroll tax deposits is an early indicator of cash flow issues within a business.
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About Tax Guard
Established in 2009, Tax Guard is a leading provider of real-time IRS tax debt data and services to help lenders accurately assess credit risks associated with potential borrowers. Commercial lenders throughout the US rely on Tax Guard’s proprietary credit risk solutions both prior to financing and throughout their lending relationships.
Headquartered in Boulder, CO, Tax Guard’s integrated solutions are designed to increase a commercial lender’s profitability based on data obtained directly from the IRS.