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Emi calculator download - Note: This is an older software. It hasn't been updated for several years and may not run on later versions of Windows OS beyond XP. An alternative software is available on the Microsoft Store: Fiscal Friend. Loan Calculator is a financial. Disclaimer: This fact sheet provides a summary of the Public Service Loan Forgiveness Program and is intended as general information only. See the Public Service Loan Forgiveness (PSLF) Checklist for more details. The information in this document is based on federal regulations and is subject to change.

Thank you for visiting our PPP Loan Forgiveness Calculator!

In order to apply for loan forgiveness for the PPP program, you are required to complete the U.S. Small Business Administration Form 3508. This form can be complex, and in an effort to help businesses navigate through the forgiveness process, we have developed a tool that will walk you through the process and help calculate your forgiveness amount and other relevant information needed to complete your official form. You are not required to use our calculator or advice. We are not providing legal advice. We are not a lender.

To download SBA.com®’s Loan Forgiveness Calculator, you will need Microsoft Excel or similar spreadsheet program that is able to open .XLSX files. The workbook is broken out into multiple tabs that you will have to click through to complete.

If you’re ready to start:
Download a blank version of SBA.com®’s Loan Forgiveness Calculator here.

If you’d like to see a sample completed workbook:
Download a sample completed version of SBA.com®’s Loan Forgiveness Calculator here.

Forgiveness rules are likely to change in the near future. As such, the calculator you download today may eventually be updated. Sign-up below to receive future updates of our Forgiveness Calculator sent directly to your inbox.

By clicking “Submit the Form”, you (1) agree to our Privacy Policy and our website Terms and Conditions, and (2) consent to be contacted (including through email) by SBA.com, its third-party lenders and other marketing partners regarding the Main Street Lending Program and related products and services.

Once you have completed the workbook, you will need to download and complete the U.S. Small Business Administration Form 3508 with the information generated, and submitted to your PPP lender. Reminder: SBA.com® is not a lender. Please do not submit any documents to SBA.com®.

Thank you for visiting our PPP Loan Forgiveness Calculator! In order to calculate your forgiveness amount you need to take the following steps:

• Step 1: Record the sum of your (1) Payroll costs, (2) Mortgage Interest payments, and (3) Utility costs
• Step 2: Subtract the total amount of salary/hourly wage reductions from this number
• Step 3: Multiply this number by the FTE Reduction Quotient (Schedule A, line 13)
  • The result is OPTION 1
• Step 4: Record your PPP Loan Amount
  • This is OPTION 2
• Step 5: Divide your payroll cost by .75
  • The result is OPTION 3
• Step 6: Your PPP Loan forgiveness amount will be LESSER between Options 1, 2 and 3.

Here are some examples of how you can calculate your forgiveness amount with this methodology:

Example 1:

• A. Payroll Costs: $100,000
• B. Mortgage Interest, Lease, Utility Costs: $50,000
• C. Total Salary/Hourly Wage Reductions: $25,000
• D. FTE Reduction Quotient (Schedule A, line 13): .85
• E. Modified Total (( A+ B – C) x D): $106,250
• F. PPP Loan Amount: $100,000
• G. Payroll Cost 75% Requirement (A / .75): $133,333
• H. Final Forgiveness Amount (Smallest of E, F, G): $100,000

Example 2:

• A. Payroll Costs: $450,000
• B. Mortgage Interest, Lease, Utility Costs: $50,000
• C. Total Salary/Hourly Wage Reductions: $400,000
• D. FTE Reduction Quotient (Schedule A, line 13): .7
• E. Modified Total (( A+ B – C) x D): $70,000
• F. PPP Loan Amount: $450,000
• G. Payroll Cost 75% Requirement (A / .75): $600,000
• H. Final Forgiveness Amount (Smallest of E, F, G): $70,000

Example 3:

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• A. Payroll Costs: $100,000
• B. Mortgage Interest, Lease, Utility Costs: $50,000
• C. Total Salary/Hourly Wage Reductions: $5,000
• D. FTE Reduction Quotient (Schedule A, line 13): .5
• E. Modified Total (( A+ B – C) x D): $72,500
• F. PPP Loan Amount: $125,000
• G. Payroll Cost 75% Requirement (A / .75): $133,333.33
• H. Final Forgiveness Amount (Smallest of E, F, G): $72,500

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It is absolutely essential to remember that the information on this sheet is for illustrative purposes only and accuracy is not guaranteed. The values and figures shown are hypothetical, may not be applicable to your individual situation and may not represent the most recent guidance published by the U.S. Small Business Administration. Be sure to consult with your bank, lender and/or qualified professional advisor and do not rely solely on the accuracy of the information inside.

SBA.com® is not associated with SBA.gov and is a private business providing resources for small businesses.

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