General Guidance on Paycheck Protection Program (ppp) Forgiveness Calculation

This guidance was developed to assist Borrowers with understanding and preparing the calculation of eligible loan forgiveness for their PPP Loan. The Borrower is required to attest to the accuracy of the forgiveness calculation, whereas the Lender is only required to verify that supporting documentation was submitted along with the attestation by the Borrower.

During the course of this loan program, the guidance provided by the Small Business Association (SBA) has been vague, and the following definitions, frequently asked questions (FAQs) and practical advice are intended to be a resource as Borrowers complete the calculation. Note, unless stated otherwise, all discussion points are related to Borrowers that are business entities, not sole proprietors, or independent contractors.

This information, which is subject to revision, is based upon the technical guidance available as of the below updated date. This information is provided for informational purposes only. It should not be construed as legal, business, accounting or tax advice and should not be relied upon as such.

Updated 5/5/2020