How to determine what the forgiveness will be for your PPP loan
For businesses who have been approved to receive funds, or have already received funds from the Paycheck Protection Program, you are likely focused now on “how do I determine what the forgiveness will be for my PPP loan?”
The CARES act allows for covered loan forgiveness if the borrower meets certain criteria (please see previous article for criteria) and represents a unique opportunity for businesses to borrow money on very favorable terms. But how much will be forgivable? Download our PPP Loan Forgiveness Toolkit & Calculator to begin estimating your individual scenario.
Our Loan Forgiveness Toolkit Includes:
Disclaimer: The contents of this resource are for general informational purposes only. While ever effort has been made to ensure its accuracy, the information is provided “as is” and no representations are made that the content is error-free. We have no obligation to update any content, comments or other information for retroactive or prospective interpretations or guidance provided by regulators, financial institutions or others. The information is not intended to constitute legal advice or replace the advice of a qualified professional. There are areas of the CARES Act where additional clarification from the Treasury Department and the SBA is needed. Your judgment and interpretation of the act may be needed. Users should consult with their legal counsel and representatives of the lending institution regarding the proper completion of their application and supporting documentation.