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PPP Loan Forgiveness Workbook – Updated 5/28/2020*

05-28-2020

We are happy to provide you with this robust planning tool for loan forgiveness. Please note, the workbooks are created for your use as a “Planning Tool” and not a “Precision Tool.” This tool has been prepared using the CARES Act as well as the relevant guidance available as of May 28, 2020. Additional guidance issued by the SBA and Treasury Department may materially impact the loan forgiveness calculations.  We are updating the workbook frequently as clarifications are issued. For actual loan forgiveness, please do not rely on the information provided in these calculations, as in most instances they are projections and will not suffice for proof of loan forgiveness. This tool is useful for projecting when to bring laid off/furloughed workers back to work, at what rate of pay, and the impact of your decisions on your loan forgiveness.

A password is not required to be able to access and use our PPP workbook. We recommend only viewing and working in the orange highlighted cells, as the rest of the workbook is protected to prevent overriding calculations, misappropriating proprietary information, or allowing for human error in inputs. Once downloaded, enter the date your loan proceeds were received and the total amount of loan proceeds received on the “Cover Page” tab then proceed to each additional tab and follow the directions at the top of the page. There’s a “collapse” button to the left of the instructions so you can hide them and maximize the view of the workbook. Enter all the information requested and then go to the “Summary Results” tab (shown below) for a report on your forgiveness.


NEW: We have also created versions of the workbook that uses Average FTE data. If your payroll is more complex, we recommend downloading one of these versions:

Weekly / Bi-weekly Workbook with Average FTE (added 5/28/20) 

Monthly / Semi-monthly Workbook with Average FTE (added 5/28/20)


 

Helpful Resources:

Download the Loan Forgiveness Application (PDF)

Download a sample case study of the workbook (Excel)

View video tutorial #1 (recorded 4/20/20)

View video tutorial #2 (recorded 5/22/20)

Review Recent Updates from SBA and Treasury from May 15, 2020 and May 22, 2020.

 

 

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