![]() Finally, subtract any funds you received from the EIDL, and that’s your loan forgiveness amount. Do the same for any reductions in the average full-time employees per month, and the average full-time employee percentage reduction. That’s the maximum you can be forgiven.įrom there, subtract the percentage of reduced wages. Once you’ve gathered the numbers you need, start with the amount of PPP loan proceeds you borrowed and used for payroll expenses and other qualified expenses (mortgage, mortgage interest, rent, and utility costs).
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