Calculations

• In the webinar, the forgiveness calculation examples for ABC Co. and XYZ Co. included three potential forgiveness figures, of which the lowest would be the forgiven amount.
• Given the 24-week period, we may spend two or three times the amount of the PPP loan in forgivable expenses.
• After the 24-week period, I will have spent 100% of the proceeds on payroll and payroll related costs. Should I still submit the costs for rent and utilities in my forgiveness application?
• If we don’t have a salary or FTE reduction, can we get forgiveness for utilities and mortgage interest?
• If the basis of the original PPP loan was payroll/health insurance only, can you later claim other expenses (utilities, postage meter, copier) for forgiveness purposes?
• If we opt for the 24-week period, and exhaust all loan funds prior to the end of 24 weeks (say by week 12), do we need to continue tracking/outlining all covered expenses?
• If economic uncertainty changed during the course of the application process and/or eight-week period, does that affect eligibility for forgiveness?
• At the time we applied for a PPP loan in April, we had guaranteed funding only until May 10 and had no way of knowing whether it would be extended beyond that date.
• If we pick the 24-week option and use all our funds for payroll only, and there has been no reduction in any employee’s pay, will there be 100% forgiveness?