Paycheck Protection Program

PROGRESS:

Eligibility

Maximum SBA Loan Amount

Forgiveness Amount

Eligibility

Maximum SBA Loan Amount

Forgiveness Amount

Congratulations!

Do you qualify?

Maximum Loan Amount

Maximum Loan Forgiveness Amount

Yes!

0

To apply for a loan contact your SBA approved bank to begin the loan process.

For questions including obtaining this tool for use on your site contact us below.

This calculator will ask you a series of questions designed to determine if your small business may be eligible to receive an SBA loan based on the Paycheck Protection Program (PPP). It will also help you estimate the size of loan you could qualify for, and the amount of your loan that might be eligible for forgiveness.

Please keep in mind none of the authors or contributors of this site are licensed professionals. Prior to making any business decisions, please consult a Certified Public Accountant (CPA).

Answer the following questions to determine if your business may be eligible for the PPP:

Were you in business as of February 15, 2020?

Yes

Are you an independent contractor?

Yes

Do you have more than 500 employees?

Yes

Does anyone own more than 20% of your business, and employ more than 500 people in a different business?

Yes

Do you qualify?

Unfortunately, you do not qualify for the SBA Loan. In general, businesses with less than 500 employees, that were in businesses as of February 15th, 2020 are eligible. Check back later to see if the qualification terms have changed.

Do you qualify?

No

Do you qualify?

Yes

Proceed with caution: an owner with 20% ownership or more that employs more than 500 people themselves may cause a breach of the 500 employee limit as the employees within an affiliate company may count towards your maximum. The SBA is reviewing these scenarios on a case-by-case basis.

Do you qualify?

Yes

Answer the following questions to estimate how much of your loan could be forgiven:

Over the 8 weeks after getting the loan...

For all other employees, how much will the company pay in wages, bonuses, and commissions?

How many of your employees will have $15,385 or more in wages, bonuses, and commissions?

For all employees, how much will the company contribute to health care costs, retirement benefits, and state/local taxes?

How much will the company pay for interest on debts incurred prior to the 8 week period?

How much will the company pay for rent?

How much will the company pay for utilities?

On average how many Full Time Equivalent Employees did / will you have between:

2/15/2019 and 6/30/2019:

1/1/2020 and 1/29/2020:

The next 8 weeks after you get the loan:

Are you reducing salaries for employees who make less than $100K by more than 25%?

Yes

What percent do you plan to reduce salaries for employees that make less than $100k?

Maximum loan forgiveness amount:

0 Answer these questions to estimate the size of loan you could qualify for:

Were you in business during the second quarter of 2019?

Yes

Are you a seasonal employer?

Yes

For the following questions, answer them...

For all employees, how much did the company pay (per month) in state and local taxes assessed on employee compensation?

For all employees, how much did the company contribute (per month) to defined-benefit or defined-contribution retirement benefits?

For all employees, how much did the company contribute (per month) to group health care costs (including premiums)?

How many of your employees had greater than $100k (annualized) in wages, bonuses, and commissions?

For all other employees, how much did the company pay (per month) in wages, bonuses, and commissions?

Do you currently have any SBA loans?

Yes

What is the current remaining principle?

Maximum loan amount:

SBA Loans can be used for (1) payroll costs, (2) health insurance premiums and paid sick leave, (3) employee wages, (4) payments of interest on mortgage obligation, (5) rent, (6) utilities, (7) interest on any other debt obligations before covered period; Non-recourse, no personal gurantee for the loan; Max interest rate of 4%; No prepayment penalty.