Many small and medium-sized businesses have had unfavorable effects as a result of the COVID virus epidemic. In order to offer resources to enterprises that satisfy the requirements, the government has established an employee retention credit.
Do you know about these funds that might support your company? If yes, keep reading to learn more about the best ERC company and which businesses to utilize to submit a claim for a refund.
What is Employee Retention Credit?
The Employee Retention Credit (ERC) is a tax relief for businesses that decide to maintain their staff members during the COVID-19 pandemic. The Coronavirus Assistance, Recovery, and Economic Stability (CARES) Act of 2020 grants authorization for this refundable reward.
So, companies that shut down or have a sharp decline in sales in 2020 or 2021 may qualify for government assistance. There are no perks included in the bundle for businesses of any size.
For each employee they retain, employers may get up to $26,000 from a pandemic relief fund. For the first three quarters of 2021, employees may earn up to $7,000, up from a maximum salary of $5,000 in 2020.
The sum of all qualifying wages plus the price of any healthcare benefits offered to workers together determine how much your company may be able to claim.
The 7 Best ERC Companies for 2023
- Bottomline Concepts – Best ERC Company Overall
- Omega Accounting Solutions – Best ERC Company for Bridge Loans
- ERC Specialists – Best ERC Company for Maximizing Your Refund
- ERC Today – Best ERC Company for Quick Processing
- ERC Assistant – Best ERC Company for Business Knowledge
- Lendio – Best ERC Company for Business Financing
- Innovation Refunds – Best ERC Company for Protecting Your Money
We took into account ERC service charges and the availability of bridge loans while evaluating the best ERC businesses.
We also looked at the requirements for eligibility and how long it takes to complete an application. Additionally, we looked for distinguishing qualities that made each ERC service stand out.
For a thorough description of our approach, please refer to this page.
|ERC Company||Pricing||Bridge Loan Availability||Qualifying Process||Processing Time||Other Features|
|Bottomline Concepts||Based on the grant||No||A brief form, then a call or an email||Not Cited||Test to determine whether you’re eligible|
|Omega Accounting Solutions||Not mentioned||Yes, you can get funding in only three days.||10 minute consultation for free||Not Cited||Calculator for employee retention credits|
|ERC Specialists||A portion based on the refund received||No||Comprehensive qualification
|Lightning-quick outcomes||Specialised payroll team|
|ERC Today||A portion based on the refund received||No||First application, 12 questions||1–2 weeks for filing||Safe portal|
|ERC Assistant||Not mentioned||No||45-second eligibility test||Not mentioned||Awareness of business owners|
|Lendio||15% of the refund||Yes, funds in as little as 24 hours||Simple eligibility questionnaire||Takes on average 25 days to file||Payroll system integrations, mobile app|
|Innovation Refunds||25% of your refund||No||8 minute online application||Not Listed||Audit protection, dedicated ERC refund agent|
1. Bottomline Concepts: Best ERC Company Overall
|Pricing||Based on the grant|
Bottomline Concepts has a track record of securing ERC funding. Many well-known brands have used the company’s ERC services to recover funds lost as a result of the COVID epidemic, including Rolex, GNC, and the Boston Red Sox.
The group has a wealth of experience with grants, with more than $1.2 billion in returns so far. The greatest thing is that Bottomline Concepts only receives payment if your company is granted funding, therefore there will be no financial impact if the qualification isn’t satisfied.
Why we chose it: Bottomline Concepts employs its tried-and-true procedure to make sure you get the maximum award amount.
- Credits recovered totaling more than $1.2 billion
- No danger to your company
- Worked with a number of reputable firms
- It can take some time to get a callback
- Only accessible online
- Unclear cost
Pricing: The price structure isn’t disclosed on the Bottomline Concepts website. Customers should be reassured that they’re only charged if the business is successful in procuring a grant for them.
Bridge Loans Available
Not a single bridge loan is offered by Bottomline Concepts. You must look into different loan possibilities from a bank or other lender if you need money to fill a gap in your operations.
On their website, Bottomline Solutions offers a brief assessment that might assist you to determine if you match the requirements for the program. After you answer the questions, a corporate representative will get in touch with you to discuss the next steps.
To help clients with the best ERC company, Bottomline Concepts offers a dedicated section. Even though the firm has no influence over the IRS’s processing time, its simple approach aids in hastening the recovery of your cash.
The ERC filing process is well understood by the experts at Bottomline Concepts. We confirm your eligibility for reimbursement and clearly define what you’re qualified for using an easy-to-use questionnaire.
2. Omega Accounting Solutions: Best ERC Company for Bridge Loans
Omega Accounting Solutions is a fast ERC service that provides a free 10-minute consultation and a how-to manual for filing your paperwork.
The ERC calculator might help you get an idea of what your monthly payment will be like. They have bridging loans available if you need money before the IRS pays up.
Why we chose it: Omega Accounting Solutions has a streamlined application procedure that provides a timely estimate of your refund.
- Equipped with an ERC calculator
- Provides bridge loans
- Speedy application procedure
- Provides no price information
- Reduced clientele
Pricing: There is no mention of cost anywhere on the Omega website. During your no-cost appointment, be careful to inquire about any potential costs associated with your case.
Bridge Loans Available
Bridge loans are made available by the parent company’s affiliate, Omega Funding Solutions, and the amount is based on the anticipated ERC refund. There are no prepayment penalties and the money may be accessed in as little as three days.
To see whether you qualify for a free consultation with an agent from Omega Accounting Solutions, all you have to do is fill out a short questionnaire on their website.
Omega presents three straightforward stages to those who are eligible. First, you must submit relevant paperwork to the website. Then, the staff at Omega will determine the refund for you and get the paperwork ready for filing.
At Omega Accounting Solutions, you can use the ERC calculator to make sure you know what to expect before you submit any paperwork. You don’t have to pay anything until you’re certain of the results.
3. ERC Specialists: Best ERC Company for Maximizing Your Refund
|Pricing||Based on a portion of the refund received|
Years of payroll experience have given the ERC Specialists an advantage when it comes to employee retention credits, as these are not claimed through income taxes. On average, this can give companies an extra 10-20% in returns.
Furthermore, with ERC Specialists, payments are made swiftly, allowing businesses to receive their returns quickly.
Why we chose it: ERC Specialists is a company that lives up to its name, boasting higher refunds than other firms in the same industry.
- Long-term payroll expertise
- Lightning-quick outcomes
- Usually able to recoup 10–20% more than competing businesses
- Lengthy procedure for qualifying
- No available loans
- Uncertain fees and costs
Pricing: The cost of employing an ERC Specialist isn’t fixed, it’s determined by the amount of your refund. You’re able to either pay after getting your refund or can get a price reduction if you pay ahead of time.
Bridge Loans Available
Although ERC Specialists can provide many ERC services, bridge loans are not one of them. If your company has been suffering financially because of the pandemic, it’s recommended to seek out a bank or other lending institution for additional funding sources.
The qualification process is guided by a comprehensive questionnaire. Once the form is completed, an ERC Specialist will reach out to you to provide an assessment of your eligibility for reimbursement.
The ERC Specialists promise a more efficient process, which frequently results in documents being sent to sign within a couple of weeks after reviewing the paperwork.
For most firms offering ERC services, a lack of payroll proficiency stops them from helping you benefit from the grant to the fullest degree.
On the other hand, ERC Specialists have been in the industry for many years, permitting the best ERC company to become proficient in the procedure.
4. ERC Today: Best ERC Company for Quick Processing
|Pricing||Dependent on the amount of the reimbursement received|
For a rapid reimbursement, ERC Today could be your best option. Their methodology allows you to complete the paperwork process in seven days or less, allowing the IRS to finalize your claim.
This is the only thing ERC Today does, and they have become adept at handling the bureaucratic hurdles while staying within the rules. A secure client portal is available to shield your private data from the web.
Why we chose it: In as little as seven days, ERC Today can have you taking advantage of their straightforward and adjustable system to file your claims.
- Safe application procedure
- Accelerated processing times
- Dedicated to credits for employee retention
- There are no business bridge loans
- Costs that are not clear
- Not connected to your payroll system
Pricing: It’s not evident how much ERC Today charges for their ERC services when it comes to filing a return.
The filing procedure itself is free, however, you only know how much the company will be taking from your refund during the process.
Bridge Loans Available
Rather than providing bridge loans or other benefits, the sole objective of ERC Today is to speed up the process of getting you a refund. This is done to ensure you get your money quickly.
Before you can find out if you meet the requirements to receive a grant, you need to complete a 12-question form. Once approved, you will be granted access to a secure platform to submit your paperwork.
At ERC Today, the time it requires to get a claim to the IRS is between one to two weeks, which is one of the quickest turnarounds. Additionally, the precision of the procedure is unparalleled.
At ERC Today, we have highly knowledgeable team members available to assist you with processing your claim without having to wait for delays from your payroll provider. Your data will be submitted through a secure gateway, guaranteeing its protection.
5. ERC Assistant: Best ERC Company for Business Knowledge
The team behind ERC Assistant includes knowledgeable, seasoned company entrepreneurs. After earning more than $1.5 million than anticipated, they made the decision to assist other companies in achieving outcomes.
If you’re eligible, ERC Assistant will put you in touch with the best ERC company to get what you need. With the help of the 45-second questionnaire given by the ERC Assistant, completing the grant qualifications is simple.
Why we chose it: Business owners, who have experienced the process, are backing ERC Assistant to enable your company to get the maximum refund.
- Fast procedure for qualification
- Created by a group of business entrepreneurs
- Recommended accounting firms
- Offers no bridge loans
- Results cannot be guaranteed
- No price information is provided
Pricing: There is no fee for using ERC Assistant to complete the approval procedure. Although this best ERC company does not disclose the specifics of its cost, its proportion is based on the money you get.
Bridge Loans Available
ERC Assistant does not yet provide bridging loans. The professionals at this best ERC company will assist you in receiving your return swiftly, but if you want immediate assistance, it’s preferable to search for a reputable loan lender.
You may find out whether you have a possibility of getting a refund within 45 seconds of utilizing ERC Assistant. If you’re selected, a member of the team will be in touch with you to let you know what to do next.
When using ERC Assistant, choosing the right ERC provider for you might take some time. But the filing procedure might be considerably easier if you work with the best ERC company.
Entrepreneurs who have been through the procedure themselves and are familiar with the processes required to get the largest award attainable for small and medium-sized firms run the ERC Assistant. They’re not employees of any kind of formal office.
6. Lendio: Best ERC Company for Business Financing
|Pricing||15% of the refund|
Lendio distinguishes out because of the range of ways it can finance and assist your business moving forward. Lendio provides a variety of options for financing your business’s needs, whether they be for accounts receivable, equipment, or other things.
You could count on getting your money in a day or less. Using a convenient mobile app, you may apply for ERC processing anytime and wherever you choose, and you’ll receive some of the best deals available.
Why we chose it: While company owners are waiting to be reimbursed, Lendio provides a wide range of financing solutions for businesses looking to acquire assets, buy equipment, or just continue operations.
- Useful mobile app
- There are several funding choices
- Competitive processing costs for ER
- Doesn’t only concentrate on ER
- Little knowledge of lenders
Pricing: There are no fees associated with determining whether you’re eligible for a refund from Lendio. Lendio charges a 15% fee for their ERC services when it comes time to get your money.
Bridge Loans Available
Lendio may give general loans with fair payment plans and speedy cash within a day of receiving an application. The firm also provides specialized financing alternatives with favorable contracts to support the growth of your business.
Filling out a simple questionnaire is the first step in Lendio’s procedure. If you’re successful, an agent will get in touch with you for further assistance in completing the process.
Filing with Lendio might take some time. Your request will likely be sent to the IRS in around 25 days. After that, you have to wait until the government gives you your money.
Paperwork might be challenging, but Lendio makes it easier by integrating with more than 150 payroll programs.
You may submit claims fast from your PC or even more simply from a mobile device with the help of the app, which enables customers to do so from any place with an internet connection.
>> Start Using Lendio Today >>
7. Innovation Refunds: Best ERC Company for Protecting Your Money
|Pricing||25% of the refund|
To guarantee that the documentation for your employee retention credit is in order, Innovation Refunds offers a team of tax lawyers. They won’t be paid until you do, and if the IRS audits, they’ll be able to prove their job.
As opposed to a computer-generated procedure, your claim will be handled by a single professional. Although the fees can appear expensive, there are no unanticipated costs.
Why we chose it: Your tax refund will be maximized while being protected thanks to a staff of highly skilled tax attorneys and audit protection ERC services.
- Specialist dedicated to ERC refunds
- Totally free audit protection
- Team of tax lawyers to defend work
- 25% of your return is taken
- No available loans
Pricing: To increase your profit, Innovation Refunds will allocate 25% of your staff retention credit to their job. There are no extra fees, so you will know exactly how much you must pay upfront.
Bridge Loans Available
Innovation Refunds does not provide bridging loans in order to concentrate its efforts and refund you your money. If you want assistance in the near term before you get your check, your bank may be able to provide financing options.
The first stage in the application procedure is to determine your eligibility for a grant. It might take you up to 8 minutes to complete the form in order to get the maximum amount of money available to you.
At Innovation Refunds, you work with real people who are accessible during normal office hours. Their representatives process claims swiftly and efficiently, making sure you get the compensation you’re due.
When you sign up with Innovation Refunds, a personal agent will be assigned to you who will assist you throughout the claims process. You won’t have to worry about changing people often or dealing with automated decision-making software.
Additionally, Innovation Refunds will cover any additional audit expenses that could occur after you get your money.
Methodology for the Best ERC Company
ERC businesses have flooded the market at the moment. But not all of them are created equal. We assessed each best ERC company according to the following criteria to determine which were the best for submitting a refund claim:
- Qualifying Process: Unfortunately, not everyone is eligible to use employee retention credits. Fortunately, by going through a simple qualifying procedure, you may quickly determine whether you qualify to file a claim and how much you can earn. We conducted research to determine how long it takes to get this information so that you may resume focusing on your work.
- Processing Time: No best ERC company has the authority to change how long the IRS takes to evaluate your file. The government may pay attention to your documentation more quickly if you submit it quickly, which might lead to receiving your money more quickly. We made every effort to find the best ERC company who provides prompt ERC services.
- Other Features: You may get compensation from ERC businesses, but some go above and above by offering features that set them apart. We spent time talking about these benefits and how you might take advantage of them.
- Pricing: It’s useless if you get a check for employee retention credit and the processing company takes all of the money. In order to be ready, we have identified these costs as completely as possible.
- Bridge Loan Availability: In order for businesses experiencing a financial downturn due to the pandemic to survive until the government releases an Economic Relief Check, a bridge loan may be a smart option. We researched the best ERC company to ensure that you may continue working for your business.
>> Try Out Bottomline Concepts Today >>
Best ERC Company: Frequently Asked Questions (FAQs)
Do you need further information about the best ERC company and the filing procedure? The answers to your questions may be found in this FAQ.
Are ERC Companies Legit?
Every company on our list for the Employee Retention Credit is reputable and has a proven track record of dealing with such claims. Even while we can’t speak for all organizations, we may infer that some of them are attempting to financially abuse businesses.
How Much Do Companies Charge to Do ERC?
Businesses often take 20% to 30% out of your refund to pay for processing and finishing ERC paperwork.
Even if this is a significant amount, you should compare the amount you will eventually get to the time and effort needed to complete the paperwork.
What Is the ERC Deadline?
The deadline for filing an employee retention credit claim for 2020 is April 15, 2024. By April 15, 2025, one year after that date, applications for 2021 must be filed.
How Long Does It Take To Get a Refund From ERC?
The Internal Revenue Service (IRS) now takes around five months to review a particular application. This is only true if all of your paperwork is correct from the start, which is a circumstance in which an ERC business may be quite useful.
The potential of receiving financial aid from the government during the COVID epidemic is a pleasant comfort for many. But the procedure for filing applications for these monies is cumbersome and time-consuming.
ERC companies are here to expedite the process and make sure you get the right amount. Bottomline Concepts stands out among the various ERC businesses the most, yet any of the best ERC companies mentioned are certain to provide good ERC services.