Payroll Protection Program Loan Forgiveness Application Spreadsheet Calculator 8/27/2020

CARES ACT COVID-19 Resource Now Available

We are pleased to provide you with this comprehensive tool designed to help you fill out the PPP Loan Forgiveness Application. This comprehensive tool was originally created by our operations staff for internal use, but now we will are preparing to create a version that anyone can use. Deployed in Excel we are happy to have worked together to provide you with a tool to complete the PPP Loan Forgiveness Application.

Here are some highlights about what you are going to see when using the tool:

Please note, this tool has been prepared using the CARES Act, the SBAs Paycheck Protection Program Loan Forgiveness Application, the PPP Flexibility Act of 2020, as well as any other relevant guidance available at the time it was developed. Additional guidance issued by the SBA and Treasury Department may materially impact the loan forgiveness calculations. I hope you find this tool useful.

Steps to follow

  • Be sure you have the LATEST and most recent copy of the SBA Form 3508. There are multiple versions published, and to add to the confusion, the SBA maintains and does not retire the old versions when new ones are issued.
  • Gather all of your payroll data starting from the time the loan was issued until the present time
  • Select an 8 week or 24 week time period, to maximize payroll forgiveness choose 24 weeks
  • Optionally gather your Health Insurance and Office expenses
  • Produce a payroll report for the time frame needed
  • Produce other relevant payroll and tax reporting reports for example the quarterly form 941's
  • Read carefully the SBA Form 3508 Instructions
  • Download the Spreadsheet
  • Download the Spreadsheet Instructions from this link or the first cell of the spreadsheet
  • Follow the instructions inside the Spreadsheet and pass the values into the form 3508
  • Contact your bank or lending institution and provide all the documentation requested

  • Disclaimer:

    I/We are not CPA's or Attorneys and while you are free to use the tool, we are not able to assist you with these calculations. A password or registration is not required to access and use our PPP loan forgiveness spreadsheet tool. We make no warrant as to the accuracy or reliability of this software. You assume any and all liabilities associated with its use. For the best advice, seek out and consult with a licensed and registered CPA.