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PPP Loan Forgiveness General Information
Retirement
Mortgage and Other Debt
Rent and Other Lease Expenses
Utilities
Self-employment
Disallowed Costs or Costs Not Included in Payroll Costs
Forgiveness Reduction Factors & Salary Reduction Calculation
FTE Reduction Factor
Baseline Period
Calculation Approach
Exclusions
Effect of Layoffs / Furloughs
Safe Harbor for Forgiveness Reduction Factors
Safe Harbor for Demonstrating Need for the Loan
Applying for Forgiveness
Auditability of the Loan
Definitions
Calculations
Deductibility of Expenses
Length of the Covered Period
Start Date for the Covered Period
Forgiveness Threshold
Loan Repayment
Other
Payroll Tax Deferral
Other CARES Act Loans
PPP Loan Forgiveness
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Support Center
Start Date for the Covered Period
Portal Login Support
PPP Loan Forgiveness Documentation
PPP Loan Forgiveness Eligibility
PPP Loan Forgiveness Payment
Allowable Expenses (Payroll Costs)
PPP Loan Forgiveness General Information
Retirement
Mortgage and Other Debt
Rent and Other Lease Expenses
Utilities
Self-employment
Disallowed Costs or Costs Not Included in Payroll Costs
Forgiveness Reduction Factors & Salary Reduction Calculation
FTE Reduction Factor
Baseline Period
Calculation Approach
Exclusions
Effect of Layoffs / Furloughs
Safe Harbor for Forgiveness Reduction Factors
Safe Harbor for Demonstrating Need for the Loan
Applying for Forgiveness
Auditability of the Loan
Definitions
Calculations
Deductibility of Expenses
Length of the Covered Period
Start Date for the Covered Period
Forgiveness Threshold
Loan Repayment
Other
Payroll Tax Deferral
Other CARES Act Loans
PPP Loan Forgiveness
Start Date for the Covered Period
Our Covered Period started on a Friday. What constitutes a week?
When does the Covered Period begin, the loan date or the funding date? Our loan is dated May 1, but we were funded May 7.
Does the 24-week period start on February 15 or start on the date we receive the funds?
We received the PPP loan, but we’re not open for business. Can we change the start of our Covered Period to be the date when we are officially open?
Our PPP loan was received on April 13, 2020. Our first payroll was paid on April 24, 2020 which covers the period from April 6 thru April 19.