Enter the Total SBA Paycheck Protection Loan Amount Received: $ 200,000.

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Estimated Loan Forgiveness Calculator

Represents the estimated maximum amount a qualifed borrower may have forgiven.

Costs Incurred During the "Covered" Period (8 weeks following loan origination):
COSTS INCURRED

Payroll Costs or Earnings from Self-Employment $ 165,000.00

Conservative Estimates Used to Calculate Tentative Forgiveness Amount
Rent $ 20,000.00 Sum of Noted Payroll + Allowable 25% (which would then be available for bills): $ 220,000.00
Utilities $ 5,000.00 Difference (the amount of the above sum that is over and above the noted payroll amount): $ 55,000.00
Interest on Covered Mortgages (on real or personal property) $ 10,000.00 Is (Payroll + 25%) LESS than Loan Amount or Not? FALSE Entered Loan is 200000
Tentative Loan Forgiveness (before required reductions) $ 200,000.00 Total Amount of Forgivable Bills (Rent, Utils & Mortgage) Based on Info Above: $ 50,000.00 25% of Loan
Therefore, the maximum forgivable sub-total amount is for this application is: $ 200,000.00 Prior to required reductions
Number of Employees:
Monthly Average Full Time Equivalent ("FTE") Employees for the PLEASE NOTE: This information is changing rapidly and is based on our current understanding of the
Covered Period (8 weeks following origination of the covered loan)** 18 program. These calculations may change. Although we will be monitoring and updating this as new
information becomes available, please do not rely solely on this for your financial decisions. Consult
REQUIRED REDUCTIONS

Lesser of: with your accountant or financial advisor.

Monthly Average FTE's for the period February 15 to June 30, 2019 18
Monthly Average FTE's for the period January 1 to February 29, 2020** 20 18
% Forgiveness Factor (total available for forgiveness due to any FTE reduction) 100.00% $ 200,000.00

Total Compensation Reduction for Applicable Employees (earning <$100k):

Employee Compensation Reduction in Excess of 25%, for those still employed
as Compared to the Most Recent Full Quarter Before Origination of Loan***
NOTE: This must be entered as a negative number. $ -

Tentative Loan Forgiveness (after required reductions) $ 200,000.00

TOTAL LOAN FORGIVENESS AVAILABLE $ 200,000.00

BALANCE OF LOAN NOT FORGIVEN (if any) $ -

Correct decreases from either of the first or second step, respectively, as follows:
The Reduction in Headcount can be avoided if by June 30, 2020 the reduction in your total FTEs headcount for the period between February
15, 2020 and April 26, 2020 has been restored; and/or

Reduction in Wages can be avoided if by June 30, 2020 you have restored to the Applicable Employees the same wages/salary they were
earning as of February 15, 2020.

The Rehire step is meant to motivate companies to use loan proceeds to restore headcount AND wage levels. If you do both, then the full
loan amount can be forgiven. If you do one or the other, then one reduction, or the other, can be ignored but there is no proportional relief
for restoring part of one or part of the other.