July 13, 2020

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Calculate Your Business’ PPP Loan Forgiveness

loan forgiveness

Askey, Askey & Associates, CPA, LLC, is making available the PPP Loan Forgiveness Calculator, developed by the AICPA, for businesses to establish the information that will be required to complete the loan forgiveness application recently released by the Small Business Administration.

Entering key data into the calculator will establish your estimated loan forgiveness, subject to documentation and other authoritative guidance forthcoming from the SBA, US Treasury, or IRS. Instructions for the keyed entries are provided at each tab of the calculator.

The templates in the link above are based on interpretations provided via the American Institute of CPAs of the CARES Act and guidance released through May 15, 2020. Refer to the Forgiveness Application from the SBA for additional business information to have available when completing your forgiveness application. This will include your SBA PPP Loan number, Lender PPP loan number, and other details applicable to your specific loan.

Please note that additional changes to the loan forgiveness program are currently being considered by Congress. Use this link to the AICPA site for the latest version of the calculator.

If you have any questions or need assistance with the calculator, please contact Christa Hood at 301-475-5671.

Askey, Askey & Associates, CPA, LLC, have two full-service offices located in Leonardtown at 23507 Hollywood Road, P.O. Box 662, Leonardtown, MD 20650, phone: 301-475-5671; and in La Plata at 105 Centennial St., Suite D, La Plata, MD 20646, phone: 301-934-5780

For more about Askey, Askey & Associates, CPA, LLC, visit their Leader Member Page, Facebook or LinkedIn.  301-475-5671  301-934-5780.

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