2/14/2024 0 Comments Ppp loan calculatorFinal Forgiveness Amount (Smallest of E, F, G): $100,000 FTE Reduction Quotient (Schedule A, line 13). Total Salary/Hourly Wage Reductions: $25,000 Mortgage Interest, Lease, Utility Costs: $50,000 Here are some examples of how you can calculate your forgiveness amount with this methodology: Example 1: Step 6: Your PPP Loan forgiveness amount will be LESSER between Options 1, 2 and 3.Step 3: Multiply this number by the FTE Reduction Quotient (Schedule A, line 13).Step 2: Subtract the total amount of salary/hourly wage reductions from this number. Step 1: Record the sum of your (1) Payroll costs, (2) Mortgage Interest payments, and (3) Utility costs.Thank you for visiting our PPP Loan Forgiveness Calculator! In order to calculate your forgiveness amount you need to take the following steps: Please do not submit any documents to SBA.com®. Small Business Administration Form 3508 with the information generated, and submitted to your PPP lender. Once you have completed the workbook, you will need to download and complete the U.S. Sign-up below to receive future updates of our Forgiveness Calculator sent directly to your inbox.īy clicking “Submit the Form”, you (1) agree to our Privacy Policy and our website Terms and Conditions, and (2) consent to be contacted (including through email) by SBA.com, its third-party lenders and other marketing partners regarding the Main Street Lending Program and related products and services. As such, the calculator you download today may eventually be updated. If you’d like to see a sample completed workbook:ĭownload a sample completed version of SBA.com®’s Loan Forgiveness Calculator here.įorgiveness rules are likely to change in the near future. The workbook is broken out into multiple tabs that you will have to click through to complete.ĭownload a blank version of SBA.com®’s Loan Forgiveness Calculator here. To download SBA.com®’s Loan Forgiveness Calculator, you will need Microsoft Excel or similar spreadsheet program that is able to open. You are not required to use our calculator or advice. This form can be complex, and in an effort to help businesses navigate through the forgiveness process, we have developed a tool that will walk you through the process and help calculate your forgiveness amount and other relevant information needed to complete your official form. In order to apply for loan forgiveness for the PPP program, you are required to complete the U.S. Thank you for visiting our PPP Loan Forgiveness Calculator! We pride ourselves in providing clear, conspicuous, and truthful information regarding the services that we offer. For nearly 10 years, SBA.com® has provided small business advice and resources. Disclaimer: SBA.com® is a private website and has no affiliation with any government agency.
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