Loan value estimate
$
$
$
Your current monthly payroll expenses.
$
Your total loan estimate.
Loan forgiveness estimate
Please only include employees that did not have wages reduced by more than 25%
from 15th Feb till 30th Jun
from 15th Feb till 30th Jun
$
$
$
$
$
$
Annual Payroll costs include:
  • Salaries and wages
  • Cash tips or equivalent
  • Payment for vacation, parental, family, medical, or sick leave
  • Allowance for dismissal or separation
  • Payment required for provision of group healthcare benefits, including insurance premiums
  • Payment of any retirement benefit
  • Payment of State or local tax assessed on compensation of employees, including SUTA
Payroll costs exclude:
  • Payroll costs for any employee in excess of an annual salary over $100k (note: you can include their payroll costs up to a $100k cap)
  • Taxes imposed or withheld under chapters 21, 22, or 24 of IRS Code (FICA & Medicare)
  • Compensation for any employee whose principal residence is outside USA
  • Qualified sick and/or family leave wages, for which a credit is allowed under Families First Coronavirus Response Act
Reduction in number of employees
Amount of loan forgiveness reduced by the % equal to the difference obtained by multiplying the average number of FT equivalent employees for each pay period within a month by:
(average number of FT equivalent employees employed during the covered period) / (average number of FT equivalent employees per month employed 2/15/19 - 6/30/19)
Reduction in compensation
Amount of loan forgiveness reduced by the amount of any 25%+ compensation reduction in the most recent full quarter for any employee who: did not receive, during any single pay period during 2019, wages or salary at an annualized pay rate in an amount exceeding $100,000.