SLIDE 1
BANK
What is the objective of this Webinar?
PPP Loan Forgiveness Application Review 101 What is the objective - - PowerPoint PPT Presentation
PPP Loan Forgiveness Application Review 101 What is the objective - - PowerPoint PPT Presentation
BANK PPP Loan Forgiveness Application Review 101 What is the objective of this Webinar? Agenda Introductions Background Information PPP Loan Forgiveness Application Review Questions & Answers Next Steps Q&A
SLIDE 2
SLIDE 3
Agenda
- Introductions
- Background Information
- PPP Loan Forgiveness Application Review
- Questions & Answers
- Next Steps
SLIDE 4
WALTERS &ASSOCIATES
- ---CPAs----
CERTrFrEo PUBLIC ACCOUNTANTS
Q&A Moderator
Patricia Entsminger Doug Walters Rick Halloran Sabal Palm Bank Executive Vice President Craig Bennison Senior Lending Officer
SLIDE 5
PPP Loan Forgiveness Application (11 pages)
- Pages 1-2: Instructions - PPP Loan Forgiveness Calculation
- Page 3:
PPP Loan Forgiveness Calculation form
- Page 4:
Borrower Certifications
- Page 5:
Instructions - Schedule A
- Page 6:
Schedule A formPages
- Pages 7-8: Instructions - Schedule A Worksheets
- Pages 9:
Schedule A Worksheet form
- Page 10:
Documents Required
- Page 11:
Demographic
SLIDE 6
PPP Loan Forgiveness Application Components/Pages
Instructions PPP Loan Forgiveness Calculation Form Instructions PPP Schedule A Instructions PPP Schedule A Worksheets
PPP Loan Forgiveness Calculation Form PPP Schedule A
CERTIFICATION
(page 4)
PPP Schedule A Worksheets
(page 3) (page 6) (page 9) (pages 1-2) (page 5) (pages 7-8) Documents Required (page 10) Demographic Information (page 11) *Optional*
I. II. III.
SLIDE 7 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
SLIDE 8
I
Paycheck Protection Program OMB Control Number 3245-0407 Loan Forgiveness Application Expiration Date: 10/31/2020 PPP Loan Forgiveness Calculation Form1.
Background Information
2.
Forgiveness Calculation
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( )- Primary Contact
SLIDE 9 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
1.
Background Information
SLIDE 10
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
1.
Background Information
IP'~
.-i;
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...
·
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.rj~r'~ . - ..
' . I' I I I I I J J _J SLIDE 11 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020
LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender. 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. All Borrowers must submit (1) and (2) to their Lender. Instructions for PPP Loan Forgiveness Calculation Form
1.
Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower2.
Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the3.
Lender if necessary.4.
Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender).5.
Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan6.
Application.7.
Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness.8.
PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds.9.
EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount.- 10. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number.
- 11. Payroll Schedule: Select the box that corresponds to your payroll schedule.
- 12. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be
- 13. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll
- 14. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the
SLIDE 12 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020
LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender. 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. All Borrowers must submit (1) and (2) to their Lender. Instructions for PPP Loan Forgiveness Calculation Form
1.
Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower2.
Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the3.
Lender if necessary.4.
Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender).5.
Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan6.
Application.7.
Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness.8.
PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds.9.
EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount.- 10. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number.
- 11. Payroll Schedule: Select the box that corresponds to your payroll schedule.
- 12. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be
- 13. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll
- 14. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the
SLIDE 13
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
1. 2. 3. 5. 6. 7. 9. 11. 12. 13. 14. 1. 1. 2. 2. 2. 4. 8. 10.
1. Background Information
I7
I L l I _J- ·
SLIDE 14
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
1. 2. 3. 5. 6. 7. 9. 11. 12. 13. 14. 1. 1. 2. 2. 2. 4. 8. 10.
SLIDE 15 OMB Control Number 3245-0407 Expiration Date: 10/31/2020
1. 2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1.
6.
Business Address Business TIN (EIN, SSN) Business Phone ( )- Primary Contact
2. 1. 2. 2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date: _______________________
8.
6.
Employees at Time of Loan Application: ___________7.
Employees at Time of Forgiveness Application: ___________9.
EIDL Advance Amount: ________________________ EIDL Application Number: __________________________9. 10.
10.
Payroll Schedule: The frequency with which payroll is paid to employees is:11.
11.
Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.- 12. Covered Period: ________________________ to ________________________
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 16
PROMIISSORY NOTE
Referen,ces in the boxe,s above are f,or le:ndl:.,:r~s use ,only :and do not limit the appl:iicabUHy of this document to any particul:ar loan ;o,r item*
A,ny item a.bove containing H*** 11 has been om1itted duei to text length limitations.
Borr.ower::
Lender:
Saba1I! Palm Bank
Downtown Office 1950, !Ring 11:ng Blvd~ Suite 101
Sarasota, FL 34i236
(941) 36,1•'1122
P B
~IA
t'rInc1pa
.. .moun: ::Interest Rate: 1! .000°/o
Date of Note: Aiprili 15,, 2020
SB.A LOAN #~ #
WHEN !FEDERAL LAW APPLIES~ When SBA is the holder, this Note w 1ill be !interpreted and enforced under Federal law, including SBA regulations,,. Le•nder or SBA may use sta1e or local procedure:s for filing p.apers, recording docu:ments, giving notice, foreclo,slng !lle•ns, an•d ottier purpos•es,, By u:slng such procedu:re·s, SBA does not waive ariy, F'ed,eral imm:unlty from state or :local control,, !penalty~ tax, or liabH:11ty. As to this,
No'te1 Borrower may, not claim or a.ssert
a,inst ·ssA any local or state la.w to deny any obligationt d•efea't any claim of SBA, or preempt Fe,deral
law. COIMPLIANCE WITH PPP LOAN PROGRAM.. Lender is making thiis lo,an pursuant to 'the, !Paycheck Protection Program {the PPP) cre.ata,d by
Section 1102 of the Coronavirus Aid} Relief~ and Eco:nomic Security Act (the iCARES Act), and go,verned by the CARES Act, section 7(a)(36) of
the Smalli Business Act, any rules or guidance tha1 has been i.ss,ued by the Small Busines.s Adiministralion implementing the PPP~ or any other
appHcable L.oan Pr,ogram !Require,ments~ as defiirmed In 13 CFR 12.0" 1
OJ as amended from tlmi,3 to time (collectively' p·pp loan Program
Requiremients). Notwithstandihng anything to the contrary herein~ th:e Borrower (al ag:rees that this Promissory Note sh,aH be interpreted and construed to be consisten:t with the PPP Loan Program: Requirements and {b) authorizes the B,ank 'to unilaterally amend any provision of this
Promissory N '8 to the ex,tent required! to compl'y with th•e PPP Loan Progra.m Requirernen·ts.
SLIDE 17
R·
,.f r .nces in th : box .s abov ar fo ·
.nd, ·r's us: on ya d do not Umit e app icabil""ty of th~s docum .nt to a y parlicula loan or it
Bor o·
we:
P incipal
au · :
SBA OAN # #
Any ite
bove1 cont · i
·
g ' *** " been omi .te : d e 'to , x I n . th limit t·o s.
Lender •
Sabal Pa m Ban :
Downtown Off""ce
950 R
11g ng
vd. Suite 1 o
Sarasota, FL 3423,
6
(941) 361-1122
nteres . Rate· 1 000°/o
Date of -o·
e · Apri 15, 2· · 20
W EN FEDERAL LAW .
- APPLIES. When SBA. is the
- lder, this No1e will be i~te~
pre1ed and enfo c~d 1Jnder Federal law includ'ng SBA regu~at ons~ . Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts, giv ng notice, fo eclcis~ng liens, an
- ther
purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia. b lity. As to t is
Noe, Borrower may no claim or assen a, gainst SBA a~y local or :
state law o deny any obU
gation, de ' ea any claim of SBA or p eempt ederal
law. COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (.
18 PPP) created bySec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·
, S Act, section 7(a)(36) of
the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p· pp, or any other
applicabll Loan rogram A qu·rements, as define ~ n 13 CFR
120
.. 1
O, as amended from
'i
me to tim· (call ct1 vely PP · Loa Program
R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th . or row r (a) ag es tha1 1h is Pro is.
sory Not . shall b
int rpr t d and
construed to be consiste '1 wi h he PP
Loan Pro_ g , am Requiremen s and (b) au h1
- ri •
ec s the Ba1
nk to1 unilater lly amen
any provisio O
'I 'is
Promissory Note)
to the ,xt .nt requilr d to complly w i h th
PP Loan Program fl ·· quirem •
n s.
- 3. SBA PPP Loan #
SLIDE 18 I I
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R·
,.f r .nces in th : box .s abov ar fo ·
.nd, ·r's us: on ya d d not Umit e app icabil""ty of th~s docum .nt to a y parlicula loan or it
Any ite
bove1 cont · i
·
g ' *** " been omi
.te : d e 'to ,
x I n th limit t·o s.
~----------------------~
Bor o·
we:
P incipal
au · :
SBA OAN # #
Lender •
Sabal Pa m Ban :
Downtown Off""ce
950 R
11g ng
vd. Suite 1 o
Sarasota, FL 3423,
6
(941) 361-1122
nteres . Rate· 1 000°/o
Date of -o·
e · Apri 15, 2 ·· 20
W EN FEDERAL LAW .
- APPLIES. When SBA. is the
- lder, this No1e will be i~te~
pre1ed and enfo c~d 1Jnder Federal law includ'ng SBA regu~at ons~ . Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts, giv ng notice, fo eclcis~ng liens, an
- ther
purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia. b lity. As to t is
Noe, Borrower may no claim or assen a,
gainst SBA a~y local or : state law o deny any obU
gation, de 'ea any claim of SBA or p eempt ederal law. COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (.
18 PPP) created bySec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·,S Act, section 7(a)(36) of
the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p· pp, or any other
applicabll Loan rogram A qu·rements, as define ~ n 13 CFR
120
.. 1
O, as amended from
'i
me to tim· (call ct1 vely PP · Loa Program
R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th .
- r
row r (a) ag es tha1 1h is Pro is.
sory Not . shall b
int rpr t d and
construed to be consiste ·t wi h he PP
Loan Pro. g ,
am Requiremen s and (b) au h1
- ri •
ec s the Ba1
nk to1 unilater lly amen
any provisio O
'I
'is
Promissory Note, to the ,xt .nt requilr d to complly w i h th PP Loan Program fl ·· quirem •
n s.
- 4. Lender PPP Loan #
- 3. SBA PPP Loan #
SLIDE 19
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- 11 •"'I
- ... ·-.
- -----·-·- ..
- --------..... ·-...
- -----.....
- -----·
- · ................ ...
- · .. ------------ ........ _________ .. ________
- ••11•11•11111' 11111'111''
- ....
- 1'11111'•11 1111•11• ""
- .. Ill'•
- 11••
- 1'11••"111
- • •••"'I
- ..
- II
: in th : box .s abov ar fo · .nd. ·r's us: on ya d do not Umit e app icabil""ty of th~s docum ,nt to a y parlicula loan or it
Bor o·
we:
P incipal
au · :
SBA OAN # # Any ite bove1 cont · i
·
g ' *** "
been omi .te : d e 'to · x I n . th limit t·o s.
Lender •
Sabal Pa m Ban :
Downtown Off""ce
950 R
11g ng
vd.
Suite 1 o
Sarasota, FL 3423,
6
(941) 361-1122
nteres . Rate· 1 000°/o
Date of . o·
e · Apri 15, 2 ·· 20
W EN FEDERAL LAW .
- APPLIES. When SBA. is the
- lder, this No1e will be i~te~
pre1ed and enfo c~d 1Jnder Federal law includ'ng SBA regu~at ons~ . Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts, giv ng notice, fo ecla.
s~ng liens, an
- ther
purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~
pe a ty~ ax~ or l'ia.
b lity. As to t is
Noe, Borrower may no claim or assen a, gainst SBA a~y local or :
state law o deny any obU
gation, de ' ea any claim of SBA or p eempt ederal
law. COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (.
18 PPP) created bySec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·.S Act, section 7(a)(36) of
the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p· pp, or any other
applicabll Loan rogram A qu·rements, as define ~ n 13 CFR 120
.. 1O, as amended from
'i
me to tim· (call ct1 vely PP · Loa Program R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th . or
row r (a) ag es tha1 1h is Pro is.
sory Not . shall b int rpr t d and construed to be consiste '1 wi h he PP
Loan Pro. g ,
am Requiremen s and (b) au h1
- ri •
ec s the Ba1
nk to1 unilater lly amen any provisio O
'I 'is
Promissory Note, to the ·xt .nt requilr d to complly w i h th PP Loan Program Ft-· quirem •
n s.
- 5. PPP Loan
A Amount
- 4. Lender PPP Loan #
- 3. SBA PPP Loan #
SLIDE 20 OMB Control Number 3245-0407 Expiration Date: 10/31/2020
1. 2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1. 2.
Business Address Business TIN (EIN, SSN) Business Phone Primary Contact E-mail Address1.
( )- 2.
6.
2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date: _______________________
8.
6.
Employees at Time of Loan Application: ___________7.
Employees at Time of Forgiveness Application: ___________9.
EIDL Advance Amount: ________________________ EIDL Application Number: __________________________9. 10.
10.
Payroll Schedule: The frequency with which payroll is paid to employees is:11.
11.
Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.- 12. Covered Period: ________________________ to ________________________
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 21
- ----·
- I
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- •'l'I
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- ••••••••••---• • • •••••••••••••••-
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- 11111'
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- -----·-·- ..
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- · ................ ...
- · .. ------------ ........ _________ .. ________
- ••11•11•11111' 11111'111''
- ....
- 1'11111'•11 1111•11• ""
- .. Ill'•
- 11••
- 1'11••"111
- • •••"'I
- ..
- II
R·
,.f r .
nces in th : ------=-----~o · .nd, · r's us: on y a d do not U mit e app icabi l""ty of th~s docum .nt to a y parlicula loan or it
Bor o·
we:
P incipal
au · :
SBA OAN # # bove1 cont · i
·
g ' *** "
been omi .te : d e 'to , x I n . th limit t·o s.
Lender •
Sabal Pa m Ban :
Downtown Off""ce
950 R
11g ng
vd.
Suite 1 o
Sarasota, FL 3423,
6
(941) 361-1122
nteres . Rate· 1 000°/o
Date of . o·
e · Apri 15, 2 ·· 20
W EN FEDERAL LAW .
- APPLIES. When SBA. is the
- lder, this No1e will be i~te~
pre1ed and enfo c~d 1Jnder Federal law includ'ng SBA regu~at ons~ . Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts, giv ng notice, fo ecla.
s~ng liens, an
- ther
purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~
pe a ty~ ax~ or l'ia.
b lity. As to t is
Noe, Borrower may no claim or assen a, gainst SBA a~y local or :
state law o deny any obU
gation, de ' ea any claim of SBA or p eempt ederal
law. COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (.
18 PPP) created bySec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·.S Act, section 7(a)(36) of
the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p· pp, or any other
applicabll Loan
rogram A qu·rements, as define
~ n 13 CFR 120
.. 1O, as amended from
'i
me to tim· (call ct1 vely PP · Loa Program R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th . or
row r (a) ag es tha1 1h is Pro is.
sory Not . shall b
int rpr t d and
construed to be consiste '1 wi h he PP
Loan Pro. g ,
am Requiremen s and (b) au h1
- ri •
ec s the Ba1
nk to1 unilater lly amen any provisio O
'I
'is
Promissory Note)
to the ,xt .nt requilr d to complly w i h th
PP Loan Program Ft-· quirem , n s.
- 5. PPP Loan
A Amount
- 4. Lender PPP Loan #
- 3. SBA PPP Loan #
SLIDE 22 OMB Control Number 3245-0407 Expiration Date: 10/31/2020
1. 2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1. 2.
Business Address Business TIN (EIN, SSN) Business Phone Primary Contact E-mail Address1.
( )- 2.
6.
2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date: _______________________
8.
6.
Employees at Time of Loan Application: ___________7.
Employees at Time of Forgiveness Application: ___________9.
EIDL Advance Amount: ________________________ EIDL Application Number: __________________________9. 10.
10.
Payroll Schedule: The frequency with which payroll is paid to employees is:11.
11.
Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.- 12. Covered Period: ________________________ to ________________________
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 23
I I
OMB Control Number 3245-0407 Expiration Date: 10/31/20201. 2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1. 2.
Business Address Business TIN (EIN, SSN) Business Phone Primary Contact E-mail Address1.
( )- 2.
6.
2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date: _______________________
8.
6.
Employees at Time of Loan Application: ___________7.
Employees at Time of Forgiveness Application: ___________9.
EIDL Advance Amount: ________________________ EIDL Application Number: __________________________9. 10.
10.
Payroll Schedule: The frequency with which payroll is paid to employees is:11.
11.
Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.- 12. Covered Period: ________________________ to ________________________
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 24
I I
OMB Control Number 3245-0407 Expiration Date: 10/31/2020 __ EIDL yroll- 1.
2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1. 2.
Business Address Business TIN (EIN, SSN) Business Phone Primary Contact E-mail Address1.
( )- 2.
6.
2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date:
8.
6.
Employees at Time of Loan Application: ___________11.
Weekly Biweekly (every ther week) Twice a month Monthly Other _____________ Payroll Schedule: The frequency with which pa is paid to employees is:7.
Employees at Time of Forgiveness Application: _____________________ Application Number: ________________________ ___________9.
EIDL Advance Amount: __________________________9. 10.
10. 11.
Covered Period: ________________________ to ________________________12.
12.
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 25
ttttttttttttttttttttttttt ttttttttttttttttttttttttt
Covered Period 56 Days
Loan Disbursement Ending Date Loan Disbursement Ending Date Monday 4/13/20 Monday 6/8/20 Monday 5/18/20 Monday 7/13/20 Tuesday 4/14/20 Tuesday 6/9/20 Tuesday 5/19/20 Tuesday 7/14/20 Wednesday 4/15/20 Wednesday 6/10/20 Wednesday 5/20/20 Wednesday 7/15/20 Thursday 4/16/20
- Thursday
6/11/20 Thursday 5/21/20 Thursday 7/16/20 Friday 4/17/20 Friday 6/12/20 Friday 5/22/20 Friday 7/17/20 Monday 4/20/20
- Monday
6/15/20 Monday 5/25/20 Monday 7/20/20 Tuesday 4/21/20 Tuesday 6/16/20 Tuesday 5/26/20 Tuesday 7/21/20 Wednesday 4/22/20 Wednesday 6/17/20 Wednesday 5/27/20 Wednesday 7/22/20 Thursday 4/23/20 Thursday 6/18/20 Thursday 5/28/20 Thursday 7/23/20 Friday 4/24/20 Friday 6/19/20 Friday 5/29/20 Friday 7/24/20 Monday 4/27/20 Monday 6/22/20 Monday 6/1/20 Monday 7/27/20 Tuesday 4/28/20 Tuesday 6/23/20 Tuesday 6/2/20 Tuesday 7/28/20 Wednesday 4/29/20 Wednesday 6/24/20 Wednesday 6/3/20 Wednesday 7/29/20 Thursday 4/30/20 Thursday 6/25/20 Thursday 6/4/20 Thursday 7/30/20 Friday 5/1/20 Friday 6/26/20 Friday 6/5/20 Friday 7/31/20 Monday 5/4/20 Monday 6/29/20 Monday 6/8/20 Monday 8/3/20 Tuesday 5/5/20 Tuesday 6/30/20 Tuesday 6/9/20 Tuesday 8/4/20 Wednesday 5/6/20 Wednesday 7/1/20 Wednesday 6/10/20 Wednesday 8/5/20 Thursday 5/7/20 Thursday 7/2/20 Thursday 6/11/20 Thursday 8/6/20 Friday 5/8/20 Friday 7/3/20 Friday 6/12/20 Friday 8/7/20 Monday 5/11/20 Monday 7/6/20 Monday 6/15/20 Monday 8/10/20 Tuesday 5/12/20 Tuesday 7/7/20 Tuesday 6/16/20 Tuesday 8/11/20 Wednesday 5/13/20 Wednesday 7/8/20 Wednesday 6/17/20 Wednesday 8/12/20 Thursday 5/14/20 Thursday 7/9/20 Thursday 6/18/20 Thursday 8/13/20 Friday 5/15/20 Friday 7/10/20 Friday 6/19/20 Friday 8/14/20
SLIDE 26
I I
OMB Control Number 3245-0407 Expiration Date: 10/31/20201. 2.
Paycheck Protection Program3.
Loan Forgiveness Application PPP Loan Forgiveness Calculation Form4.
Business Legal Name (“Borrower”) DBA or Tradename, if applicable5.
1. 1.
6.
Business Address Business TIN (EIN, SSN) Business Phone ( )- Primary Contact
2. 1. 2. 2. 2.
7.
3.
SBA PPP Loan Number: ________________________- 4. Lender PPP Loan Number: __________________________
5.
PPP Loan Amount: _____________________________- 8. PPP Loan Disbursement Date: _______________________
8.
6.
Employees at Time of Loan Application: ___________7.
Employees at Time of Forgiveness Application: ___________9.
EIDL Advance Amount: ________________________ EIDL Application Number: __________________________9. 10.
10.
Payroll Schedule: The frequency with which payroll is paid to employees is:11.
11.
Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.- 12. Covered Period: ________________________ to ________________________
- 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________
13.
- 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:
14.
Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form. Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information. SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender. PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number. Payroll Schedule: Select the box that corresponds to your payroll schedule. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14. Alternative Payroll Covered Period: For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.
SLIDE 27
I
Paycheck Protection Program OMB Control Number 3245-0407 Loan Forgiveness Application Expiration Date: 10/31/2020 PPP Loan Forgiveness Calculation Form1.
Background Information
2.
Forgiveness Calculation
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone ( )- Primary Contact
SLIDE 28 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
2.
Forgiveness Calculation
I
SLIDE 29
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I
SLIDE 30
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
SLIDE 31
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
SLIDE 32
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
Paid or Incurred in Covered Period
SLIDE 33
BANK
Utility Expenses
Allowed Unknown
- Water
- Cell Phones
- Gas
- Bundled Services (tv, data and telephone)
- Electricity
- Waste Management
- Telephone
- Internet
SLIDE 34
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs II. Adjustments III. Three Forgiveness Scenarios IV. Final Forgiveness
B A D
SLIDE 35
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
- •111•1-1 I
SLIDE 36
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
SLIDE 37
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness
SLIDE 38
(page 3) (page 6) (page 9)
PPP Loan Forgiveness Application Components/Pages
PPP Loan Forgiveness Calculation Form PPP Schedule A PPP Schedule A Worksheets
I. II. III.
(page 3) (page 6) (page 9)
PPP Loan Forgiveness Application Components/Pages
PPP Loan Forgiveness Calculation Form PPP Schedule A PPP Schedule A Worksheets
(page 3) (page 6) (page 9)
PPP Loan Forgiveness Application Components/Pages
PPP Loan Forgiveness Calculation Form PPP Schedule A PPP Schedule A Worksheets
(page 3) (page 6) (page 9)
PPP Loan Forgiveness Application Components/Pages
PPP Loan Forgiveness Calculation Form PPP Schedule A PPP Schedule A Worksheets
SLIDE 39
[ _______________
~I
II. Schedule A
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 40
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019. Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
SLIDE 41
II.
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019. Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE
Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________III.
Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 42
III. II.
PPP Schedule A Worksheet Table 1: List employees who:- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
I.
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 43 ___ ___ ___ ___ ___ ___ ___ ___
2019 or were not employed by the Borrower at any point in 2019 Cash Com Were employed by the Borrower at any point during the Cov Cash Com
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PPP Schedule A Worksheet Table 1: List employees who:- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
- Received compensation from the Borrower at an annualized
- principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized
II.
SLIDE 44
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019. Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M Annual Compensation >$100M
SLIDE 45
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M
SLIDE 46
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M
SLIDE 47
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M
SLIDE 48
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M
SLIDE 49
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Annual Compensation <$100M
SLIDE 50
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 7
Instructions for PPP Schedule A Worksheet Complete the PPP Schedule A Worksheet or obtain an equivalent report from the Borrower’s payroll system or payroll processor. Table Instructions Employee’s Name: Separately list each employee. Do not include any independent contractors, owner-employees, self-employed individuals, or partners. Employee Identifier: Enter the last four digits of each employee’s Social Security Number. Cash Compensation: Enter the sum of gross salary, gross wages, gross tips, gross commissions, paid leave (vacation, family, medical or sick leave, not including leave covered by the Families First Coronavirus Response Act), and allowances for dismissal or separation paid or incurred during the Covered Period or the Alternative Payroll Covered Period. For each individual employee, the total amount of cash compensation eligible for forgiveness may not exceed an annual salary of $100,000, as prorated for the Covered Period; therefore, do not enter more than $15,385 in Table 1 or Table 2 for any individual employee. Average FTE: This calculates the average full-time equivalency (FTE) during the Covered Period or the Alternative Payroll Covered
- Period. For each employee, enter the average number of hours paid per week, divide by 40, and round the total to the nearest tenth.
The maximum for each employee is capped at 1.0. A simplified method that assigns a 1.0 for employees who work 40 hours or more per week and 0.5 for employees who work fewer hours may be used at the election of the Borrower. This calculation will be used to determine whether the Borrower’s loan forgiveness amount must be reduced due to a statutory requirement concerning reductions in full-time equivalent employees. Borrowers are eligible for loan forgiveness for certain expenditures during the Covered Period or the Alternative Payroll Covered Period. However, the actual loan forgiveness amount that the Borrower will receive may be less, depending on whether the Borrower’s average weekly number of FTE employees during the Covered Period or the Alternative Payroll Covered Period was less than during the Borrower’s chosen reference period (see Instructions to PPP Schedule A, Line 11). The Borrower is exempt from such a reduction if the FTE Reduction Safe Harbor applies. See the FTE Reduction Safe Harbor instructions below. Salary/Hourly Wage Reduction: This calculation will be used to determine whether the Borrower’s loan forgiveness amount must be reduced due to a statutory requirement concerning reductions in employee salary and wages. Borrowers are eligible for loan forgiveness for certain expenditures during the Covered Period or the Alternative Payroll Covered Period. However, the actual amount of loan forgiveness the Borrower will receive may be less, depending on whether the salary or hourly wages of certain employees during the Covered Period or the Alternative Payroll Covered Period was less than during the period from January 1, 2020 to March 31, 2020. If the Borrower restored salary/hourly wage levels, the Borrower may be eligible for elimination of the Salary/Hourly Wage Reduction amount. Borrowers must complete this worksheet to determine whether to reduce the amount of loan forgiveness for which they are eligible. Complete the Salary/Hour Wage Reduction column only for employees whose salaries or hourly wages were reduced by more than 25% during the Covered Period or the Alternative Payroll Covered Period as compared to the period of January 1, 2020 through March 31, 2020. For each employee listed in Table 1, complete the following (using salary for salaried employees and hourly wage for hourly employees): Step 1. Determine if pay was reduced more than 25%. a. Enter average annual salary or hourly wage during Covered Period or Alternative Payroll Covered Period: ______________. b. Enter average annual salary or hourly wage between January 1, 2020 and March 31, 2020: ______________. c. Divide the value entered in 1.a. by 1.b.: ______________. If 1.c. is 0.75 or more, enter zero in the column above box 3 for that employee; otherwise proceed to Step 2. Step 2. Determine if the Salary/Hourly Wage Reduction Safe Harbor is met. a. Enter the annual salary or hourly wage as of February 15, 2020: ______________. b. Enter the average annual salary or hourly wage between February 15, 2020 and April 26, 2020: ______________. If 2.b. is equal to or greater than 2.a., skip to Step 3. Otherwise, proceed to 2.c. c. Enter the average annual salary or hourly wage as of June 30, 2020: ______________. If 2.c. is equal to or greater than 2.a., the Salary/Hourly Wage Reduction Safe Harbor has been met – enter zero in the column above box 3 for that employee. Otherwise proceed to Step 3. Step 3. Determine the Salary/Hourly Wage Reduction. a. Multiply the amount entered in 1.b. by 0.75: ______________. b. Subtract the amount entered in 1.a. from 3.a.: ______________.
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 8
If the employee is an hourly worker, compute the total dollar amount of the reduction that exceeds 25% as follows: c. Enter the average number of hours worked per week between January 1, 2020 and March 31, 2020: ______________. d. Multiply the amount entered in 3.b. by the amount entered in 3.c. ______________. Multiply this amount by 8: ______________. Enter this value in the column above box 3 for that employee. If the employee is a salaried worker, compute the total dollar amount of the reduction that exceeds 25% as follows: e. Multiply the amount entered in 3.b. by 8: ______________. Divide this amount by 52: ______________. Enter this value in the column above box 3 for that employee. FTE Reduction Exceptions: Indicate the FTE of (1) any positions for which the Borrower made a good-faith, written offer to rehire an employee during the Covered Period or the Alternative Payroll Covered Period which was rejected by the employee; and (2) any employees who during the Covered Period or the Alternative Payroll Covered Period (a) were fired for cause, (b) voluntarily resigned,
- r (c) voluntarily requested and received a reduction of their hours. In all of these cases, include these FTEs on this line only if the
position was not filled by a new employee. Any FTE reductions in these cases do not reduce the Borrower’s loan forgiveness. Boxes 1 through 5: Enter the sums of the amounts in each of the columns. FTE Reduction Safe Harbor A safe harbor under applicable law and regulation exempts certain borrowers from the loan forgiveness reduction based on FTE employee levels. Specifically, the Borrower is exempt from the reduction in loan forgiveness based on FTE employees described above if both of the following conditions are met: (1) the Borrower reduced its FTE employee levels in the period beginning February 15, 2020, and ending April 26, 2020; and (2) the Borrower then restored its FTE employee levels by not later than June 30, 2020 to its FTE employee levels in the Borrower’s pay period that included February 15, 2020.
M.,,.,_MIIMJ .MIi SLIDE 51
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
III. Schedule A Worksheet
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 9
PPP Schedule A Worksheet Table 1: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in
2019 or were not employed by the Borrower at any point in 2019.
Employee's Name Employee Identifier Cash Compensation Average FTE FTEReduction Exceptions: Totals: Box 1 Box 2 Box 3 Salary / Hourly Wage Reduction
Table 2: List employees who:
- Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose
principal place of residence is in the United States; and
- Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.
Employee's Name Employee Identifier Cash Compensation Totals: Box 4 Box 5 Average FTE Attach additional tables if additional rows are needed. FTE Reduction Safe Harbor: Step 1. Enter the borrower’s total average FTE between February 15, 2020 and April 26, 2020. Follow the same method that was used to calculate Average FTE in the PPP Schedule A Worksheet Tables. Sum across all employees and enter: ______________. Step 2. Enter the borrower’s total FTE in the Borrower’s pay period inclusive of February 15, 2020. Follow the same method that was used in step 1: ______________. Step 3. If the entry for step 2 is greater than step 1, proceed to step 4. Otherwise, the FTE Reduction Safe Harbor is not applicable and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule. Step 4. Enter the borrower’s total FTE as of June 30, 2020: ______________. Step 5. If the entry for step 4 is greater than or equal to step 2, enter 1.0 on line 13 of PPP Schedule A; the FTE Reduction Safe Harbor has been satisfied. Otherwise, the FTE Reduction Safe Harbor does not apply and the Borrower must complete line 13 of PPP Schedule A by dividing line 12 by line 11 of that schedule.
Annual Compensation >$100M
SLIDE 52
[
I- II. Schedule A
1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 53 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
II. 1.
Annual Compensation <$100M
[ _______________
~I
SLIDE 54
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation <$100M
SLIDE 55
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation <$100M
MIJ .dUMIII- -••••t.w
SLIDE 56
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation <$100M
MOSJ .JZ .. !IM £S • ... 'II I II SU !. • --•• SLIDE 57
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation <$100M
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SLIDE 58
[
III. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 59 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
2.
Annual Compensation >$100M
SLIDE 60
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation >$100M
SLIDE 61
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Annual Compensation >$100M
Mttilld .. na a ........ ea a •.. lll!!llll aw a •. IOI M u..-.111.1/4 2b lilHM!/lllH tMlMa!l!IJU SLIDE 62
[
III. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 63 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Employee Benefits & Taxes
3.
SLIDE 64
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Employee Benefits & Taxes
- JI ••
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- .
SLIDE 65
[
III. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 66 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Owner Compensation
4.
SLIDE 67
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Owner Compensation
SLIDE 68
[
III. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 69 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Total Payroll
5.
SLIDE 70
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
Total Payroll
SLIDE 71
II. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 72
[
III. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 73 Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
6.
SLIDE 74
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
SLIDE 75
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
.
~ '"°; ' ...- ...
SLIDE 76
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
* 2/15/19-6/30/19 * 1/1/20-2/29/20 * 12 Consecutive weeks Between 5/1/19-9/15/19
SLIDE 77
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
SLIDE 78 _________
II. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ____ ______ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 79
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
SLIDE 80
1 FTE Employee Earns < $100M Example
SLIDE 81
Example 1 FTE Employee Earns < $100M
SLIDE 82
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
* 2/15/19-6/30/19 * 1/1/20-2/29/20 * 12 Consecutive weeks Between 5/1/19-9/15/19
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SLIDE 83
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
38 hours/40 hours= .95
.
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SLIDE 84
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
38 hours/40 hours= .95
SLIDE 85 _________
II. 1.
Annual Compensation <$100M
2. 3. 4. 5. 6.
Annual Compensation >$100M Employee Benefits & Taxes Owner Compensation Total Payroll FTE Reduction Calculation
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________35/40=.875
Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ____ ______ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: _____________________ This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________ SLIDE 86
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
.95 .875
SLIDE 87
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
.95 .875 .92 .875/.95=
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SLIDE 88
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
92%
SLIDE 89
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 3
PPP Loan Forgiveness Calculation Form
Business Legal Name (“Borrower”) DBA or Tradename, if applicable Business Address Business TIN (EIN, SSN) Business Phone
( )
- Primary Contact
E-mail Address
SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________ PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________ Employees at Time of Loan Application: ___________ Employees at Time of Forgiveness Application: ___________ EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ Payroll Schedule: The frequency with which payroll is paid to employees is: Weekly Biweekly (every other week) Twice a month Monthly Other _____________ Covered Period: ________________________ to ________________________ Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here: Forgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________ Line 2. Business Mortgage Interest Payments: _____________________ Line 3. Business Rent or Lease Payments: _____________________ Line 4. Business Utility Payments: _____________________ Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________ Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________ Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________ Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________ Line 9. PPP Loan Amount: _____________________ Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________ Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________
I. Forgivable Costs III. Three Forgiveness Scenarios IV. Final Forgiveness II. Adjustments
92%
$.92
SLIDE 90
Paycheck Protection Program
OMB Control Number 3245-0407
Loan Forgiveness Application
Expiration Date: 10/31/2020 SBA Form 3508 (05/20) Page 6
PPP Schedule A PPP Schedule A Worksheet, Table 1 Totals Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: ___________________ Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: ___________________ Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1: ___________________ If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here and enter 0 on line 3. PPP Schedule A Worksheet, Table 2 Totals Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: ___________________ Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: ___________________ Non-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: ___________________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: ___________________ Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: ___________________ Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners:
_____________________
This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each. Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): ___________________ Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here , skip lines 11 and 12 and enter 1.0 on line 13. Line 11. Average FTE during the Borrower’s chosen reference period: ___________________ Line 12. Total Average FTE (add lines 2 and 5): ___________________ Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: ___________________
FTE Reduction Calculation
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SLIDE 91
Safe Harbor
SLIDE 92
BANK
Safe Harbor
- I. Salary/Hourly Wage Reduction
- II. FTE Reductions
SLIDE 93
BANK
Salary/Hourly Wage Reduction
Safe Harbor Provided if: Salary/Wages on June 30, 2020 =
- Feb. 15, 2020
SLIDE 94
BANK
- 'MiU.l8ttl. •!JI• ••••11.a
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FTE Reduction
Safe Harbor Provided if: FTE’s on June 30, 2020 =
- Feb. 15, 2020
SLIDE 95
WALTERS &ASSOCIATES
- --- CPAs----
CERTIFIEo PUBLIC ACCOUNTANTS
Questions & Answers
SLIDE 96
WALTERS &ASSOCIATES
- ---CPAs----
CERTrFrEo PUBLIC ACCOUNTANTS
Q&A Moderator
Patricia Entsminger Doug Walters Rick Halloran Sabal Palm Bank Executive Vice President Craig Bennison Senior Lending Officer
SLIDE 97
WALTERS &ASSOCIATES
- ---CPAs----
CERTIFIEo PUBLIC ACCOUNTANTS
Sabal Palm
BANK
Next Steps
SLIDE 98
WALTERS &ASSOCIATES
- ---CPAs----
CERTIFIEo PUBLIC ACCOUNTANTS
Sabal Palm
BANK