Greetings, fellow business leader! If you're reading this, I know you, like myself, have spent much time over the last month or so trying to procure a PPP loan for your business. Congrats on getting one! Now that the SBA has released a Forgiveness Loan Application, we can finally start projecting our total forgiveness with some confidence. I highly encourage you to start sooner than later, as it will provide you with the insight to make better decisions regarding how you are spending your funds.
I created this document after an unsuccessful search for finding something similar online. If you aren't familiar with A M Exclusive or me, we are a Technology Support company, serving as an outsourced IT department for Small Businesses in the New York Metropolitan area, enabling our clients to work from anywhere. As Vice President of our company, while I am not a legal or accounting expert, I am pretty good with excel and general business documentation and processes!
I crafted this file so that you can edit it as you need, and adapt it to your interpretations of the law and SBA instructions, as well as your business size. The template includes space for data on 30 employees and up to 4 owners, but if you know Microsoft Excel, you can easily add more to these numbers. This file is flexible to serve both as a document to project your forgiven loan amount, as well as to document the actual costs incurred during the "Covered Period" and/or the "Alternative Covered Period" that may be forgiven. This document is to be treated as a tool and not as formal legal or accounting advice. I encourage you to seek outside counsel to confirm that you accurately interpret the laws regarding loan forgiveness. I hope this is helpful to you and saves you time!
Click on the button below to download a copy of our PPP Loan Forgiveness Excel Worksheet.
From all of us at A M Exclusive, we wish you peace & calm during this temporary 'storm.'