EIDL application number, if you applied.
A reduction of 25% or more in annual salary (compared to their most recent full quarter) for employees who make less than $100k/year will reduce the loan forgiveness amount. Reductions in employee salary may also affect your eligible forgiveness amount. What to Know if You’ve Reduced Employee Salary Seasonal employers must use the period from February 15, 2019, through June, 30, 2019. Your payroll cost multiplied by the average number of full-time employees per month for one of these 8-week periods: To determine how much might be forgiven, you can use this calculation: The forgiveness amount may be reduced if you have laid off employees or reduced their salaries. Payroll Changes That Affect PPP Loan Forgiveness accounting or tracking of supplies, inventory, records, or expenses.the processing, payment, or tracking of payroll expenses, human resources, sales, and billing functions.
Covered expenditures such as business software or cloud computing services that facilitate:.Refinancing an SBA EIDL received between January 31, 2020, and April 3, 2020.