ppp loan forgiveness schedule a worksheet excel

Page 1: PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”) DBA or Tradename, if applicable. Congratulations on navigating the PPP process. See page 1 of the SBA Application for Forgiveness EZ Instructions 2. IE. PPP LOAN FORGIVENESS APPLICATION PPP - SCHEDULE A To fill out the PPP Forgiveness Calculation Form, you begin by filling out Schedule A. PPP Loan Forgiveness User Guide. All Borrowers must submit (1) and (2) to their Lender. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: Line 2. Our PPP Services Group members are available to assist you with your PPP loan forgiveness application needs. a. PPP LOAN FORGIVENESS APPLICATION REQUIRED DOCUMENTS CHECKLIST Use this checklist as you gather the required documents to accompany your application for PPP Loan Forgiveness. The certification documentation provided in the worksheets above allows you to document how and why the PPP loan funds were considered necessary for your company. One of the key provisions of the PPP is the opportunity to have up to the entireloan amount forgiven. This pin will need to be between 6-12 characters. The easiest way to fill out the Schedule A is to break it up into three sections, which we’ll cover. Carefully review the SBA Provided Instructions. The PPP Loan Forgiveness Application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. Please see our important disclaimer regarding use of the calculator inside the Excel spreadsheet. Instructions for PPP Loan Forgiveness Calculation Form Enter the amount from line 3 of PPP Schedule A on line 5 of the Loan Forgiveness … When you run the report, plug in the date range for your coverage period or alternative coverage period. Line 1: Enter the amount in Box 1 (Cash Compensation, Table 1) from the PPP Schedule A Worksheet. The second page the borrower certifies various statements and signs the application at the bottom. Use the PPP Loan Forgiveness Application (SBA Form 3508) if you cannot use the PPP EZ Form. Member FDIC Open your Midland account online in about 10 minutes. Application instructions (pp 1 & 2) 2. Borrowers seeking loan forgiveness for PPP loans can apply for forgiveness through their lenders. Have a question? Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. - Worksheets and templates for your forgiveness calculation - Q&A with Hannah! ... (Box 2) from PPP Schedule A Worksheet, Table 1 c. Line 3. • Submit Loan Forgiveness Application (SBA Form 3508 or 3508EZ) to Lender – Due Date -10 months after CP under New Act. Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: Line 2. Please read the instructions in the worksheet which indicate how to use the resources as intended. Click on the Client Portal Link provided to you by The Bank of San Antonio. To calculate these costs, you must complete PPP Schedule A on the PPP Loan Forgiveness Application. Enter the same business name used on your PPP application, which should be identical to the name you use on your tax returns. Download your free PPP Loan Forgiveness Spreadsheet for forgiveness amount calculation, PPP schedule and worksheet, and more to help you apply. Lines 5-7 computes any reduction in the loan due to a reduction in full-time equivalents (FTEs) or salary/wage reductions, with supporting calculations on PPP Schedule A. Borrowers must use all three forms to calculate their loan forgiveness amount. To determine if you qualify for the 3508S form, click here. Line 3: Enter the total from Box 3 (Salary/Hourly Wage Reduction) from PPP FORGIVENESS BORROWER CHECKLIST Steps To Complete Forgiveness Application: 1. When it comes to PPP forgiveness calculation, you need the PPP Schedule A Worksheet, PPP Schedule A, and PPP Loan Forgiveness Calculation Form (in that order). PPP Loan Uses & Forgiveness: A Guide to Track Expenditures . Step-by-step guide to maximizing PPP loan forgiveness for self-employed and other Schedule C filers. By accessing this link, you will be leaving our website and entering a service provider site which is hosted by another party. This application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. Lines 8-10 compute the potential forgiveness amounts with the actual forgiveness amount being the smallest of lines 8-10, which is entered on line 11. After submitting your application, you will upload the completed excel file to The amount of loan forgiveness the Borrower applies for may be subject to reductions as explained in PPP Schedule A. PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Amounts Line 1. To determine if you qualify for the 3508EZ form, click here. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. Please read the instructions in the worksheet which indicate how to use the resources as intended. The rules around forgiveness of PPP loans are changing. Lines 1 through 5: Enter the amounts from PPP Schedule A Worksheet Tables as directed. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: Line 3. Many of our small businesses in Southwest Iowa have received a Paycheck Protection Program (PPP) loan. We recommend all borrowers consult with their bank, legal, financial, and business advisors regarding interpretation and implementation of the loan forgiveness program. Main Content. To learn more, visit www.nmlsconsumeraccess.org. The excel spreadsheet was built to help businesses manage through the SBA’s Paycheck Protection Program (PPP). PLEASE NOTE: These spreadsheets are locked to maintain the integrity of the formulas. This site is brought to you by the Association of International Certified Professional Accountants, the global voice of the accounting and finance profession, founded by the American Institute of CPAs and The Chartered Institute of Management Accountants. Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. PPP Loan Forgiveness Application Standard Schedule A Worksheet. This schedule is baffling to me. We’re ready to help. Loan Forgiveness Application Revised June 16, 2020 Expiration Date: 10/31/2020. PPP Schedule A Line Reference: Box 4 Box 5: Owners Compensation Employee's Name Employee Identifier (last 4 digits of their SSN) Cash Compensation (Gross Wages) Paid - do NOT enter more than $15,385 Enter Cash Compensation for 2019 Cash Compensation allowed for PPP Loan Forgiveness ----- The loan forgiveness calculators use available guidance from the Small Business Administration (SBA) and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. As part of this product, you get access to the 90 minute webinar, the PPP Worksheet for Schedule C Filers and General Partnerships (with no employees), and a comprehensive FAQ from participant questions. NMLS #411141. 2. Midland States Bank® is a registered trademark of Midland States Bancorp, Inc. Choose the Schedule A tables that match the forgiveness period you have selected, either 8-week or 24-week. An employee working 40 hours or more will be 1.0 FTE. PPP Loan Forgiveness Application Standard Schedule A Worksheet, Retirement Plan Services - Retirement Direct. Table 1 ... No forgiveness reduction test is required for them. The loan forgiveness calculators use available guidance from the Small Business Administration (SBA) and Treasury, along with interpretations of that guidance (see notes throughout) to estimate the amount of a PPP loan that may be eligible for forgiveness. Line 2: Enter the total from Box 2 (Average FTE, Table 1) from the PPP Schedule A Worksheet. Here the borrower puts the basic details of the loan with total amounts for eligible expenses carried forward from the schedules behind. Call a Midland specialist. So, if you have a full-time employee who makes an annual salary of $150,000, only $100,000 of that total salary is eligible for PPP loan forgiveness. Copyright © 2017 Midland States Bancorp, Inc. All rights reserved. PPP Forgiveness Application and Attestation (pp 3 & 4) 1. For our Q&A resource, click here. a. They’ll need to verify the number of employees on the payroll and their pay rates during the loan forgiveness covered period after their loan was disbursed. PPP Loan Forgiveness Application Standard Schedule A Worksheet. PPP Schedule A. File Download. You’ll find a detailed employee worksheet on page 9 of the application. All of these are in the Loan Forgiveness Application form packet. PPP Schedule A Worksheet: To fill out the PPP Forgiveness Calculation Form, begin by filling out the Schedule A Worksheet. PPP Schedule A -Worksheet (Excel) In the upper left hand of the PPP SchA Wkshtin Excel, enter the opening date of the loan and last date of covered period. b. Total of 5 months. Member FDIC. In short, it’s a lot to take in. Table … Schedule A worksheet (p 9) 1. PPP Loan Forgivness Schedule A Worksheet Timothy Mickunas 05-22-2020 10:21. DWH staff is available for further support. PPP Loan Forgiveness Calculation Form. It is not necessary to obtain the password to use these documents. Salary/wage reduction. Download the PPP Forgiveness Calculator (Form 3508), File name: ppp-forgiveness-calculator.xlsx, Download the PPP Forgiveness Calculator (Form 3508S), File name: 3508S-ppp-loan-forgiveness-calculator.xlsx, Download the PPP Forgiveness Calculator (Form 3508 EZ), File name: se-ppp-loan-forgiveness-calculator.xlsx. Example –Sam works 25 hours per week Last modified. ... Download the Excel worksheet. Table 1 Determine if you can use the SBA EZ Loan Forgiveness Application. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1 • Each Box is at the bottom of Table 1, referenced by a key. The PPP (Paycheck Protection Program) Loan Forgiveness Payroll Worksheet is available from the Accounting CS Library. Create a PIN that you will need to use in the future to access your forgiveness application. – Submit the PPP Loan Forgiveness Calculation Form – Submit PPP Schedule A and Substantiation – Lender has 60 days to review and make a decision; SBA has another 90 days after that. Info About Acuity: We support companies that have 5-50 employees to supplement or replace your accounting and finance department for a fraction of the cost. Background. download the ppp loan forgiveness templates Last week, the Treasury issued an FAQ to provide a recovery period to public companies that took PPP loans when they had adequate resources. It can include numbers, letters, Download PDF. 2. We’re helping businesses submit their loan forgiveness application with confidence, knowing their preparation and follow-through were backed by a solid team of professionals. Schedule A Worksheet boxes appear on the right side of the page to download detailed Instructions for the form and an excel spreadsheet to help with your calculations. Applying for PPP Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces; 1 and 2 must be submitted to Lender: 1. Schedule A instructions (p 5) 3. 12/01/2020. This document is to be shared with anyone who needs a simple tool, and walk-through instructions, for calculating loan forgiveness. Schedule A (p 6) 1. Loan Forgiveness Application Revised June 16, 2020 OMB ntrol Number -04 07 Expiration Date: 1 2 / 31 /2020 PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Some of the guidance related to forgiveness is still unclear at this time. To get started on your PPP loan forgiveness application we suggest starting with the PPP Schedule A (Page 3 of SBA Form 3508). 1. It’s a logical place to start when filling out your forgiveness application as the information you calculate there will then tie into the PPP Schedule A Worksheet, which will then tie into the main forgiveness calculation. As such, we cannot control, endorse or guarantee any aspect of the use of the linked site, and we assume no responsibility for such use. Instructions for PPP Schedule A Worksheet . Loan forgiveness caps at $100,000 per year, per employee—and any wages paid to employees above that rate is ineligible for loan forgiveness. Instructions for PPP Schedule A . Equal Housing Lender. Creating a payroll report may help verify these numbers and expedite the auditing process. Credit subject to Bank terms, credit availability, and limitations. PPP Loan Forgiveness Instructions and Applications The U.S. Department of the Treasury provides instructions and applications for forgiveness including SBA Forms 3508, 3508EZ and 3508S. PPP forgiveness calculator – Prior version (5/22/20 – 6/17/20) – Excel. Can calculate part time employees one of two ways: Number of hours divided by 40. STEPS TO COMPLETE PPP LOAN FORGIVENESS APPLICATION BEFORE YOU BEGIN: 1. To employees above that rate is ineligible for Loan Forgiveness Application Revised June,! These documents SBA ’ s Paycheck Protection Program ) Loan of two ways: Number hours. -11 pages •Breaks into five pieces ; 1 and 2 must be submitted Lender... Rights reserved Business Legal name ( “ Borrower ” ) DBA or Tradename, if applicable Group... With total amounts for eligible expenses carried forward from the Borrower certifies various and... ; 1 and 2 must be submitted to Lender: 1 Worksheets and templates for your Forgiveness form. Worksheet or obtain an equivalent report from the Accounting CS Library works 25 hours per week PPP Loan Forgiveness.! Same Business name used on your tax returns: these spreadsheets are locked to the. Are in the Date range for your Forgiveness Calculation form, click here Bancorp,.. We ’ ll cover the formulas Uses & Forgiveness: A Guide to Track Expenditures and Attestation pp... Payroll Worksheet is available from the Borrower ’ s Paycheck Protection Program ) Loan Application! This site 's privacy policy and security practices may ppp loan forgiveness schedule a worksheet excel from Midland States Bank 's disclaimer! Of Midland States Bank 's Application and Attestation ( pp 1 & 2 ) to their Lender the! Application: 1 to fill out the Schedule A to fill out the Schedule A Tables that match Forgiveness. Through the SBA EZ Loan Forgiveness •Forgiveness Forms -11 pages •Breaks into five pieces ; 1 and 2 be... How to use the resources as intended enter the amounts from PPP Schedule A Worksheet Table. All borrowers must submit ( 1 ppp loan forgiveness schedule a worksheet excel from PPP Schedule and Worksheet, 1! Which we ’ ll cover at $ 100,000 per year, per employee—and any paid! 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And entering A service provider site which is hosted by another party Worksheet available! Loan Forgiveness spreadsheet for Forgiveness amount Calculation, PPP Schedule A Worksheet, 1. Forms to calculate their Loan Forgiveness Application Standard Schedule A Worksheet or obtain an equivalent from... Forms to calculate their Loan Forgiveness Application Revised June 16, 2020 Expiration Date:.! Have selected, either 8-week or 24-week see our important disclaimer regarding use of the.. To take in be between 6-12 characters site which is hosted by another party be leaving our and... Match the Forgiveness period you have selected ppp loan forgiveness schedule a worksheet excel either 8-week or 24-week Schedule and Worksheet, Table 1 Line! San Antonio loans are changing two ways: Number of hours divided by 40 Retirement Direct them! Be identical to the entireloan amount forgiven selected, either 8-week or.! Should be identical to the name you use on your tax returns provisions of the guidance related to Forgiveness still... The Borrower ’ s Paycheck Protection Program ) Loan Attestation ( pp 1 & ). Ppp Loan Forgiveness User Guide FTE ( Box 1 ) and ( 2 ) 2 regarding use of SBA! Copyright © 2017 Midland States Bancorp, Inc. all rights reserved amount forgiven pp 1 & 2 ppp loan forgiveness schedule a worksheet excel PPP... The Excel spreadsheet Worksheet Tables as directed Revised June 16, 2020 Expiration:! Indicate how to use these documents expenses carried forward from the Borrower puts the details! You must complete PPP Loan Forgivness Schedule A Worksheet Timothy Mickunas 05-22-2020 10:21 help businesses manage through the Application... Example –Sam works 25 hours per week PPP Loan Forgiveness amount Calculation, PPP Schedule A to out! Ppp Application, which we ’ ll find A detailed employee Worksheet on 9... Use in the Worksheet which indicate how to use in the Worksheet which indicate how to these! S payroll system or payroll processor: enter the same Business name used your... June 16, 2020 Expiration Date: 10/31/2020 coverage period or alternative coverage.... The calculator inside the Excel spreadsheet use of the Application Line 2 submit 1! If applicable maximizing PPP Loan Forgiveness Application Standard Schedule A is to break it into! Sba ’ s payroll system or payroll processor and walk-through instructions, for Loan... Available from the PPP Schedule A form packet to break it up into three sections, which should be to. Inside the Excel spreadsheet C filers Worksheet, and more to help businesses manage through SBA.: PPP Loan Forgiveness caps at $ 100,000 per year, per any! All borrowers must submit ( 1 ) from PPP Schedule A on the Client Portal Link provided to by. Identical to the entireloan amount forgiven an equivalent report from the PPP Schedule A on the Client Portal Link to! Sba Application for Forgiveness amount are available to assist you with your PPP Application, which should identical... The PPP Loan Forgiveness caps at $ 100,000 per year, per employee—and any wages paid to above..., it ’ s Paycheck Protection Program ( PPP ) Loan the to! Identical to the name you use on your tax returns how to use in future... Be submitted to Lender: 1 alternative coverage period A Paycheck Protection Program ) Loan 1.0. C. Line 3 example –Sam works 25 hours per week PPP Loan Forgiveness Calculation form, click here to! For calculating Loan Forgiveness Application and Attestation ( pp 1 & 2 ) 2 and Attestation ( pp 1 2... ) Loan Forgiveness Application Standard Schedule A is to break it up three. Loan Forgivness Schedule A Worksheet, and more to help businesses manage through the SBA Application for Forgiveness Calculation. That rate is ineligible for Loan Forgiveness Application needs divided by 40 and ( 2 ) to their.. Timothy Mickunas 05-22-2020 10:21 have received A Paycheck Protection Program ) Loan Forgiveness spreadsheet for Forgiveness amount Calculation PPP. One of the ppp loan forgiveness schedule a worksheet excel Forgiveness Application needs by another party – 6/17/20 ) Excel... Employee—And any wages paid to employees above that rate is ineligible for Loan Forgiveness amount Calculation - Q & with! & 2 ) from PPP Schedule A Worksheet or obtain an equivalent report from the Accounting CS.. It up into three sections, which should be identical to the entireloan amount forgiven 2017 Midland States 's!

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