C/A Summary on SBA FAQ: How to Calculate Maximum Loan Amounts for First Draw PPP Loans
This is a summary breakdown of the SBA and Department of the Treasury guidance on how to calculate the maximum loan amount for First Draw PPP Loans by each type of business. The guidance describes payroll costs using calendar year 2019 as the reference period for payroll costs used to calculate loan amounts. However, borrowers are permitted to use payroll costs from either calendar year 2019 or calendar year 2020 for their First Draw PPP Loan amount calculation. Documentation, including IRS forms, must be supplied for the selected reference period.
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