Let’s calculate the estimated loan amount under the Paycheck Protection Program (“PPP”). But before we dive in, there are a few things to note:
- This is only for businesses with fewer than 500 employees.
- The questions are geared towards your tax filing status. So if you are an LLC, you will need to know whether your are taxed as a sole proprietor, S-Corp, partnership, etc.
- Any W2 wages, self-employment income, or partner income allocation is limited to $100,000 per person. You will need to reduce this excess in the calculations below.
- Do NOT include any payments below made to independent contractors. See Question #15 here. They would be subject to their own loan applications.
- The calculator is only to be used for one specific business. Separate businesses would be subject to separate applications.
- Use of the calculator is subject to our disclaimer.
- If you have any questions or comments please leave them below.