The Small Business Administration (SBA) recently released a Paycheck Protection Program (PPP) Loan Forgiveness Calculation Form, improving guidance on calculation methods for determining the amount of loan forgiveness for which a PPP recipient is eligible. The application consists of a three-part calculation for the borrower to complete and submit to their bank or lender from whom they received their PPP loan. The PPP loan is a program that forgives the loan amount so long as the small business recipient uses the funds for payroll, utilities, and other items listed in the terms and conditions.
The application calculation consists of three parts to determine the amount eligible for forgiveness:
Clarifying definitions were provided for leases of personal and real property, internet, transportation, telephone services, and instructions for documenting payroll costs. We recommend consulting with your financial advisor for further assistance. If you would like to read more details on the calculation and clarifying definitions, check out this post.
abeo Management Corporation (abeo) serves as a leading source of revenue cycle management and practice management with a specialization in anesthesia. The company leverages its people, processes, and software to serve independent practices, surgery centers, hospitals and healthcare systems with a scope of services that include billing, coding, transcription, practice management, and business consulting.