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Paycheck Protection Program - Program Ended August 8, 2020

[Click Here] for the PPP EZ Loan Forgiveness Application

[Click Here] for the Paycheck Protection Program (PPP) Information Fact Sheet

[Click Here] for a Brief Overview of (PPP)

[Click Here] for the US Treasury Department Information Fact Sheet for the Paycheck Protection Program (PPP)

[Click Here] to view the Hilb Group CARES Act and PPP webinar

[Click Here] to view the Hilb Group CARES Act and PPP presentation deck

    Watch the MEA Retail Owner Webinar - CARES Act for EIDL and PPPL [Click Here]

    Tips for Calculations your PPP Loan

    Steps for calculating Payroll Costs for SBA PPP Loan application:

    1. Get a copy of your IRS Form 940 or 940-EZ for 2019
    2. Use the amount from line 3 “Total payments to all employees:”
    3. Then determine if any employees make over $100,000 annually
    4. If so, then subtract only the amounts that they made over the $100,000
    5. Then determine your total 2019 costs for insurance benefits (health, dental, vision, disability, etc.)
    6. Take the amount from step 2 and subtract the amount from step 3 and add the amount from step 5 to get total Payroll Cost (for SBA loan)
    7. Take that number and divide it by 12 to get average monthly payroll cost then multiply it by X2.5 for total loan amount

     

    Example: Four (4) employees that make $125K, $80K, $50K and $25K annually

    Total payroll cost for calendar 2019 (from 940):  $280,000

    Total amount paid to employees over $100,000: -$25,000

    Total company expense from employees insurances: $48,000

    Total payroll costs for 2019: $303,000

    Average monthly payroll costs for 2019: $25,250

    SBA PPP authorized loan amount (X2.5): $63,125

    [Click Here] For information on Reconciling your Paycheck Protection Plan Loan

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