Paycheck Protection Program Loan Calculator

Estimated Maximum PPP Loan Amount

This calculator is a simple estimate for First Draw loans for businesses and nonprofits with fewer than 20 employees. Your maximum PPP loan amount will be 2.5 times your average monthly payroll costs, up to $2 million. Keep in mind you can only receive one PPP loan so if you apply, you may consider applying for the maximum amount you are eligible for.

Note: Sole proprietors and businesses with a NAICS code beginning with 72 will have varying loan calculation numbers. For more information, visit the SBA’s website.


Results

Your maximum PPP loan amount can be no more than $10 million.

Note: Please keep the backup calculations ready


Application Instructions

For more information, please refer to the documentation provided by U.S. Department Of The Treasury here

Required Documents

Below you start the application, please have the below list of documentation:

All Applicants

  • Business start date
  • Government issued ID (front and back)
  • Bank account and routing number
  • Monthly Payroll Report
  • Medical Insurance payment verification (If applicable)
  • Documentation confirming retirement benefits (If applicable)
  • Economic Injury Disaster Loan (EIDL) statement (If applicable)

Sole Proprietors and Self Employed

  • 2019 IRS Form 1099-MISC if you are an independent contractor
  • 2019 IRS Form 1040 Schedule C if your business is a sole proprietorship
  • Bank account and routing number
  • Monthly Payroll Report
  • Medical Insurance payment verification (If applicable)
  • Documentation confirming retirement benefits (If applicable)
  • Economic Injury Disaster Loan (EIDL) statement (If applicable)

If you are a non-profit or if you have employees

  • If your business is seasonal, 2019 IRS Form 941 for Q1 & Q2
  • If your business is not seasonal, 2019 IRS Form 940
  • 2019 IRS Form W-3
  • Articles of organization
  • Monthly payroll statements that outline these costs by month
  • Salary, wages, commissions, or tips (not exceeding $100,000 annually for each employee)
  • If you have employees making over $100,000, provide their W-2s
  • If you have employees outside the US, provide W-2s for those living abroad
  • Costs for vacation, parental, family, medical or sick leave
  • Costs for separation or dismissal of employees
  • State & local taxes assessed on employee compensation
  • If you’re a seasonal business but were not operating in Q1 or Q2 of 2019, provide IRS for 941 since your business start date

Payroll providers like ADP and Paychex can give you a tailored report for PPP loan purposes.

This calculator is provided by MST Solutions and does not constitute legal or tax advice. Information continues to evolve rapidly, and this calculator should be viewed as an estimate only. You agree to accept full responsibility for any losses or damages that result from your use of this tool. Please discuss your specific situation with an appropriate tax, legal, or other appropriate professional.