As of May 6, more than 2.4 million loans worth more than $183 billion have been approved as part of the second round of funding for the Paycheck Protection Program (PPP). Whether you have already received funding following your application for the PPP, or are still waiting to hear back regarding approval for a loan, you may have questions about loan forgiveness. Below are responses to frequently asked questions on this issue.
We are also including a link to download a helpful PPP Loan Forgiveness Estimator Tool to help you better understand what part of your PPP loan may be forgiven. Just enter your loan information into the boxes beginning with cell B29 of the spreadsheet to get started.