![]() We hope this template helps you track both until your bank comes around with better guidance. Watch this video to learn more about best practices when using the AICPA forgiveness calculator. You can only receive one PPP loan, so if you apply for. Video Walkthrough of the PPP Forgiveness Calculator. Your maximum PPP loan amount will be 2.5 times your average monthly payroll costs, up to 10 million. This tool is designed to help you better understand the timing for your respective Covered Period and Deferral Period based on the date your loan was funded. You are likely going to need more support for forgiveness than you did for the laon calculation. Use these calculators to estimate the amount of a PPP loan that may be eligible for forgiveness. ![]() Again we expect the banks to have different interpretations of which expenses qualify but we recommend to start gathering this information in one central place - so download this form to a shared drive and start filling it out and dragging supporting documents to the drive folder you create. There are two main things to focus on now.ġ) We are expecting much diversity in the loan forgiveness calculation itself, so put in an inquiry to your banker to get their forgiveness calculation/methodolgy.Ģ) Start logging your actual expenditures - regardless of how the forgiveness is calculated it wil be applied to your actual expeditures for the 8 week period following the first deposit you receive from your PPP loan. But since our advice is to always move to the next step, in this case Loan Forgiveness, it is time to move forward. While lenders will work with their customers individually to calculate loan forgiveness, you can estimate the amount using a loan forgiveness calculator or. ![]() Congratulations on navigating the PPP process.
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