How to Get Your PPP Loan Forgiven?

Watch the Live video where Eddy answers your questions about PPP Loan Forgiveness. Download the Free PPP Forgiveness Calculator to estimate your loan forgiveness and track your funding.

We're starting a live series of monthly talks with Eddy to answer your business questions. If you have a question for Eddy or a suggestion for a topic, please leave a comment below the video.

Time Stamps

04:00 - Why is there confusion about how to get your PPP loan forgiven?

04:27 - How do you recommend businesses track their spending for the PPP loan?

05:40 - Where can businesses apply for loan forgiveness?

08:00 - Do you recommend any apps or software to track paper records in a digital format?

08:40 - What documents will businesses need to provide for their application for PPP loan forgiveness?

09:10 - If an employee leaves or if a business lays off an employee based on performance, will it be counted against the business in terms of the amount of forgiveness?

09:30 - The PPP requires businesses to maintain the number of employees on their payroll, does that mean you must keep the same employees or the same amount?

12:05 - What happens if the lender doesn’t forgive your PPP loan?

Watch the live video

Links to sources mentioned in the video

• Gusto: Paycheck Protection Program Report
• Treasury: Paycheck Protection Program FAQ Updated May 13.
• SBA: Third Interim Final Rule Updated April 13.
• $335 billion additional funding for PPP approved by the Senate on April 21.
• The first $350 billion of PPP funding released on April 3 was claimed within 2 weeks.

Lenders are more prepared for the second round of stimulus funding coming down the pipeline. We’re expecting the additional PPP funds to move quicker than the first $350 billion. If you have any questions about tracking your PPP loan , then download the FREE Forgiveness Calculator to estimate your PPP loan forgiveness.