PPP ForgivenessPar t I I

May 20 , 2020

PLEASE DOWNLOAD THE PPP FORGIVENESS APPLICATION BEFORE PRESENTATION BEGINS

Laura BerrySBA Loans & Cash Flow

Barbara CoatsTax

Al TanjuCybersecurity

Gary GrunerTax

Daniel PullmanAccounting

Accounting StrategiesTax StrategiesBusiness Disruption Resources

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Technology Resources PPP Loan Guidance

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Coronavirus Aid, Relief, andEconomic Security Act - CARES Act

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Topics Discussed• Paycheck Protection Program SBA Report

• PPP Loan Forgiveness Application – SBA Form 3508Updated clarification and change for loan forgiveness

Walk-though example of loan forgiveness

Documentation to submit to lender

Documentation to keep for six years

PPP Funding Overview

First Round Second Round

Loan Count 1,661,367 2,571,167 Net Approved Dollars 342,277,999,103$ 188,943,588,568$ Lender Count 4,975 4,563

Loan Size Approved Loans Approved Dollars % of Count % of Amount Loan Size Approved Loans Approved Dollars % of Count % of Amount

$150K and Under 1,229,893 58,321,791,761$ 74.0% 17.0% $50K and Under 1,877,950 32,856,427,350$ 73.3% 20.7%>$150K - $350K 224,061 50,926,354,675$ 13.5% 14.9% >$50K - $100K 331,866 23,470,699,187$ 13.0% 14.8%>$350K - $1M 140,197 80,628,410,796$ 8.4% 23.6% >$100K - $150K 130,073 15,887,602,486$ 5.1% 10.0%>$1M - $2M 41,238 57,187,983,464$ 2.5% 16.7% >$150K - $350K 147,602 32,631,473,177$ 5.8% 20.6%>$2M - $5M 21,566 64,315,474,825$ 1.3% 18.8% >$350K - $1M 61,646 34,365,428,096$ 2.4% 21.7%>$5M 4,412 30,897,983,582$ 0.3% 9.0% >$1M - $2M 14,130 19,530,467,793$ 0.6% 12.3%

>$2M - $5M 6,352 18,857,362,992$ 0.3% 11.9%>$5M 1,548 11,344,127,488$ 0.1% 7.2%

First Round Second Round

*Average Loan Size: $206k

*Average Loan Size: $73k

Loan Size Comparison

Sheet1

First RoundSecond RoundFirst RoundFirst Round

Loan SizeApproved LoansApproved Dollars% of Count% of AmountLoan SizeApproved LoansApproved Dollars% of Count% of AmountLenderApproved LoansApproved DollarsAverage Approved SizeLenderApproved LoansApproved DollarsAverage Approved Size

Paycheck Protection Program Summary

$150K and Under1,229,893$ 58,321,791,76174.0%17.0%$50K and Under1,877,950$ 32,856,427,35073.3%20.7%127,30714,071,396,427515,3041290,43123,216,152,60479,937

>$150K - $350K224,061$ 50,926,354,67513.5%14.9%>$50K - $100K331,866$ 23,470,699,18713.0%14.8%232,09710,309,843,746321,2092226,69816,913,077,49474,606

First RoundSecond Round>$350K - $1M140,197$ 80,628,410,7968.4%23.6%>$100K - $150K130,073$ 15,887,602,4865.1%10.0%321,0629,612,090,368456,3713156,69410,267,646,59065,527

Loan Count1,661,3672,571,167>$1M - $2M41,238$ 57,187,983,4642.5%16.7%>$150K - $350K147,602$ 32,631,473,1775.8%20.6%433,5947,778,303,458231,538462,4914,622,486,11073,970

Net Approved Dollars$ 342,277,999,103$ 188,943,588,568>$2M - $5M21,566$ 64,315,474,8251.3%18.8%>$350K - $1M61,646$ 34,365,428,0962.4%21.7%527,9296,555,028,971234,703551,9714,450,545,08085,635

Lender Count4,9754,563>$5M4,412$ 30,897,983,5820.3%9.0%>$1M - $2M14,130$ 19,530,467,7930.6%12.3%625,8206,114,676,731236,819633,6623,238,240,04896,199

>$2M - $5M6,352$ 18,857,362,9920.3%11.9%726,2386,057,787,355230,878775,1663,129,948,17541,640

*55% increase in number of loans, representing a 55% reduction in funds disbursed>$5M1,548$ 11,344,127,4880.1%7.2%810,6814,406,088,115412,516826,3822,739,199,927103,828

914,2154,356,840,783306,496947,1742,478,373,74752,537

109,4574,267,336,254451,2361012,0332,429,130,347201,872

1112,0014,190,129,500349,1481123,4712,252,706,19795,978

1225,1513,889,799,524154,6581234,6682,234,360,96964,450

139,6733,392,990,074350,7691352,6682,187,863,60741,541

1410,6422,978,045,260279,8391420,8692,183,347,867104,622

1540,7462,966,427,90872,8031514,3732,156,339,343150,027

Lender Approved Loans Approved Dollars Average Approved Size Lender Approved Loans Approved Dollars Average Approved Size

1 27,307 14,071,396,427 515,304 1 290,431 23,216,152,604 79,937 2 32,097 10,309,843,746 321,209 2 226,698 16,913,077,494 74,606 3 21,062 9,612,090,368 456,371 3 156,694 10,267,646,590 65,527 4 33,594 7,778,303,458 231,538 4 62,491 4,622,486,110 73,970 5 27,929 6,555,028,971 234,703 5 51,971 4,450,545,080 85,635 6 25,820 6,114,676,731 236,819 6 33,662 3,238,240,048 96,199 7 26,238 6,057,787,355 230,878 7 75,166 3,129,948,175 41,640 8 10,681 4,406,088,115 412,516 8 26,382 2,739,199,927 103,828 9 14,215 4,356,840,783 306,496 9 47,174 2,478,373,747 52,537

10 9,457 4,267,336,254 451,236 10 12,033 2,429,130,347 201,872 11 12,001 4,190,129,500 349,148 11 23,471 2,252,706,197 95,978 12 25,151 3,889,799,524 154,658 12 34,668 2,234,360,969 64,450 13 9,673 3,392,990,074 350,769 13 52,668 2,187,863,607 41,541 14 10,642 2,978,045,260 279,839 14 20,869 2,183,347,867 104,622 15 40,746 2,966,427,908 72,803 15 14,373 2,156,339,343 150,027

Second RoundFirst Round

PPP Lenders – Highest Approved Dollars

Sheet1

First RoundSecond RoundFirst RoundSecond Round

Loan SizeApproved LoansApproved Dollars% of Count% of AmountLoan SizeApproved LoansApproved Dollars% of Count% of AmountLenderApproved LoansApproved DollarsAverage Approved SizeLenderApproved LoansApproved DollarsAverage Approved Size

Paycheck Protection Program Summary

$150K and Under1,229,893$ 58,321,791,76174.0%17.0%$50K and Under1,877,950$ 32,856,427,35073.3%20.7%127,30714,071,396,427515,3041290,43123,216,152,60479,937

>$150K - $350K224,061$ 50,926,354,67513.5%14.9%>$50K - $100K331,866$ 23,470,699,18713.0%14.8%232,09710,309,843,746321,2092226,69816,913,077,49474,606

First RoundSecond Round>$350K - $1M140,197$ 80,628,410,7968.4%23.6%>$100K - $150K130,073$ 15,887,602,4865.1%10.0%321,0629,612,090,368456,3713156,69410,267,646,59065,527

Loan Count1,661,3672,571,167>$1M - $2M41,238$ 57,187,983,4642.5%16.7%>$150K - $350K147,602$ 32,631,473,1775.8%20.6%433,5947,778,303,458231,538462,4914,622,486,11073,970

Net Approved Dollars$ 342,277,999,103$ 188,943,588,568>$2M - $5M21,566$ 64,315,474,8251.3%18.8%>$350K - $1M61,646$ 34,365,428,0962.4%21.7%527,9296,555,028,971234,703551,9714,450,545,08085,635

Lender Count4,9754,563>$5M4,412$ 30,897,983,5820.3%9.0%>$1M - $2M14,130$ 19,530,467,7930.6%12.3%625,8206,114,676,731236,819633,6623,238,240,04896,199

>$2M - $5M6,352$ 18,857,362,9920.3%11.9%726,2386,057,787,355230,878775,1663,129,948,17541,640

*55% increase in number of loans, representing a 55% reduction in funds disbursed>$5M1,548$ 11,344,127,4880.1%7.2%810,6814,406,088,115412,516826,3822,739,199,927103,828

914,2154,356,840,783306,496947,1742,478,373,74752,537

109,4574,267,336,254451,2361012,0332,429,130,347201,872

1112,0014,190,129,500349,1481123,4712,252,706,19795,978

1225,1513,889,799,524154,6581234,6682,234,360,96964,450

139,6733,392,990,074350,7691352,6682,187,863,60741,541

1410,6422,978,045,260279,8391420,8692,183,347,867104,622

1540,7462,966,427,90872,8031514,3732,156,339,343150,027

Paycheck Protection ProgramAllowable Uses of Covered LoansIN GENERAL– During the covered period, an eligible recipient may use the proceeds of the covered loan for-

• Payroll costs • Employee salaries, commission or similar compensations• Costs related to the continuation of group health care benefits during periods of paid sick, medical, or

family leave, and insurance premiums• Retirement plan benefits• State and local taxes on wages

• Payments of interest on any mortgage obligation (which shall not include any prepayment of or payment of principal on a mortgage obligation)

• Rent (including rent under a lease agreement);• Utilities (electricity, gas, water, transportation, telephone, internet access)

Updated Clarification and Changes for Loan Forgiveness

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• Alternative Payroll Covered Period

• Cost Paid or Incurred

• Average FTE Definition

• FTE Reduction Safe Harbor Exemption

Alternative Payroll Covered Period

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Alternative Payroll Covered Period:

For administrative convenience, Borrowers with a biweekly (or more frequent) payroll schedule may elect to calculate eligible payroll costs using the eight-week (56-day) period that begins on the first day of their first pay period following their PPP Loan Disbursement Date (the “Alternative Payroll Covered Period”). For example, if the Borrower received its PPP loan proceeds on Monday, April 20, and the first day of its first pay period following its PPP loan disbursement is Sunday, April 26, the first day of the Alternative Payroll Covered Period is April 26 and the last day of the Alternative Payroll Covered Period is Saturday, June 20. Borrowers who elect to use the Alternative Payroll Covered Period must apply the Alternative Payroll Covered Period wherever there is a reference in this application to “the Covered Period or the Alternative Payroll Covered Period.” However, Borrowers must apply the Covered Period (not the Alternative Payroll Covered Period) wherever there is a reference in this application to “the Covered Period” only.

Cost Paid or Incurred - Payroll

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Covered Period: The “covered period” is the 8-week period generally beginning on the date you received the loan disbursement. Only the costs paid or incurred within 8-week period are generally eligible for forgiveness.

Paid:Payroll costs are considered paid on the day that paychecks are distributed or the Borrower originates an ACH credit transaction.

Incurred:Payroll costs are considered incurred on the day that the employee’s pay is earned. Payroll costs incurred but not paid during the Borrower’s last pay period of the Covered Period (or Alternative Payroll Covered Period) are eligible for forgiveness if paid on or before the next regular payroll date. Otherwise, payroll costs must be paidduring the Covered Period (or Alternative Payroll Covered Period).

Cost Paid or Incurred – Nonpayroll Costs

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Eligible nonpayroll costs

An eligible nonpayroll cost must be paid during the Covered Period or incurred during the Covered Period and paid on or before the next regular billing date, even if the billing date is after the Covered Period. Eligible nonpayroll costs cannot exceed 25% of the total forgiveness amount. Count nonpayroll costs that were both paid and incurred only once.

Average FTE Definition

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Average FTE:

This calculates the average full-time equivalency (FTE) during the Covered Period or the Alternative Payroll Covered Period. For each employee, enter the average number of hours paid per week, divide by 40, and round the total to the nearest tenth. The maximum for each employee is capped at 1.0. A simplified method that assigns a 1.0 for employees who work 40 hours or more per week and 0.5 for employees who work fewer hours may be used at the election of the Borrower.

FTE Reduction Exemption

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FTE Reduction Exceptions:

Indicate the FTE of (1) any positions for which the Borrower made a good-faith, written offer to rehire an employee during the Covered Period or the Alternative Payroll Covered Period which was rejected by the employee; and (2) any employees who during the Covered Period or the Alternative Payroll Covered Period (a) were fired for cause, (b) voluntarily resigned, or (c) voluntarily requested and received a reduction of their hours. In all of these cases, include these FTEs on this line only if the position was not filled by a new employee. Any FTE reductions in these cases do not reduce the Borrower’s loan forgiveness.

Loan Forgiveness ApplicationPPP Loan Forgiveness Calculation Form(Page 3)

Loan Forgiveness ApplicationPPP Schedule A(Page 6)

Loan Forgiveness ApplicationPPP Schedule A Worksheet(Page 9)

Example Facts2019 2020 - Q1 Covered Period Covered Period

Annualized Annualized 8-Weeks Annualized

Mary 100,000 100,000 15,385 100,000 Carey 85,000 85,000 13,079 85,000 Larry 52,000 52,000 4,000 26,000 Sherrie 15,000 15,000 - -

252,000 252,000 32,464 211,000

Loan 2.5X $ 52,500

Loan Forgiveness

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Schedule A Worksheet - Table 1

• Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose principal place of residence is in the United States; and

• Received compensation from the Borrower at an annualized rate of less than or equal to $100,000 for all pay periods in 2019 or were not employed by the Borrower at any point in 2019.

Employee SSN Cash Compensation Average FTE Salary/Hourly Wage Reduction

Carey xxxx 13,079 1 -

Larry xxxx 4,000 1 2,000

17,079 2 2,000 Box 1 Box 2 Box 3

Loan Forgiveness

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Schedule A Worksheet - Table 2

• Were employed by the Borrower at any point during the Covered Period or the Alternative Payroll Covered Period whose principal place of residence is in the United States; and

• Received compensation from the Borrower at an annualized rate of more than $100,000 for any pay period in 2019.

Employee SSN Cash Compensation Average FTE

Mary xxxx 15,385 1

15,385 1Box 4 Box 5

Loan Forgiveness

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Average FTE: This calculates the average full-time equivalency (FTE) during the Covered Period or the Alternative Payroll Covered Period. For each employee, enter the average number of hours paid per week, divide by 40, and round the total to the nearest tenth.

Covered Period/Alternative Covered Period

Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Average FTE

Mary 40 40 40 40 40 40 40 40 40 1.0

Carey 40 40 40 40 40 40 40 40 40 1.0

Larry 40 40 40 80 80 40 40 40 50 1.0

Sherrie 0 0 0 0 0 0 0 0 0 0.0

3.0

Loan Forgiveness

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LIMITS ON AMOUNT OF FORGIVENESSForgiveness reduction based on the reduction in number of employeesThe amount of loan forgiveness under this section shall be reduced, but not increased, by multiplying the amount described in subsection by the quotient obtained by dividing-• The average number of full-time equivalent employees per month employed by the eligible recipient during

the covered period; by

At the election of the borrower-• The average number of full-time equivalent employees per month employed by the eligible recipient during

the period beginning on February 15, 2019 and ending on June 30, 2019; or• The average number of full-time equivalent employees per month employed by the eligible recipient during

the period beginning on January 1, 2020 and ending on February 29, 2020; or

Loan Forgiveness

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LIMITS ON AMOUNT OF FORGIVENESSForgiveness reduction based on the reduction in number of employees

The period of 1/1/2020 – 2/29/2020 has a lower FTE count, therefore we will chose this as our base period to compare for our FTE reduction calculation on PPP Schedule A, Line 11.

In this example the percentage 75% as we had 3 in our covered and 4 as the base period (3/4). This quotient will be reported on line PPP Schedule A, Line 13.

2/15/2019 5.00 1/3/2020 4.00 2/22/2019 4.00 1/10/2020 4.00

3/1/2019 4.00 1/17/2020 4.00 3/8/2019 4.00 1/24/2020 4.00

3/15/2019 4.00 1/31/2020 4.00 3/22/2019 4.00 2/7/2020 4.00 3/29/2019 4.00 2/14/2020 4.00

4/5/2019 4.00 2/21/2020 4.00 4/12/2019 4.00 2/28/2020 4.00 4/19/2019 4.00 4/26/2019 4.00

5/3/2019 8.00 5/10/2019 8.00 5/17/2019 8.00 5/24/2019 8.00 5/31/2019 8.00

6/7/2019 8.00 6/14/2019 4.00 6/21/2019 4.00 6/28/2019 4.00

Average 5.25 4.00

2/15/2019 - 6/30/2019 1/1/2020 - 2/29/2020

Loan Forgiveness

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LIMITS ON AMOUNT OF FORGIVENESSForgiveness reduction based on reduction of salary and wages

The amount of loan forgiveness under this section shall be reduced by the amount of any reduction in total salary or wages of any employee described in subparagraph (B) during the covered period that is in excess of 25 percent of the total salary or wages of the employee during the most recent full quarter during which the employee was employed before the covered period.

(B) Employees Described -An employee described in this subparagraph is any employee who did not receive, during any single pay period during 2019, wages or salary at an annualized rate of pay in an amount more than $100,000.

Loan Forgiveness

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LIMITS ON AMOUNT OF FORGIVENESSForgiveness reduction based on reduction of salary and wages

Employee Q1 2020 Annualized Covered Period Annualized

75% Threshold Annualized

Excess 25% Reduction Annualized

Excess 25% Reduction Covered

Period

Carey 85,000 85,000 63,750 - -

Larry 52,000 26,000 39,000 13,000 2,000

2,000

PPP Schedule A

PPP Schedule A Worksheet, Table 1 Totals

Line 1. Enter Cash Compensation (Box 1) from PPP Schedule A Worksheet, Table 1: $17,079

Line 2. Enter Average FTE (Box 2) from PPP Schedule A Worksheet, Table 1: 2

Line 3. Enter Salary/Hourly Wage Reduction (Box 3) from PPP Schedule A Worksheet, Table 1 $2,000

If the average annual salary or hourly wage for each employee listed on the PPP Schedule A Worksheet, Table 1 during the Covered Period or the Alternative Payroll Covered Period was at least 75% of such employee’s average annual salary or hourly wage between January 1, 2020 and March 31, 2020, check here ☐ and enter 0 on line 3.

PPP Schedule A

PPP Schedule A Worksheet, Table 2 Totals

Line 4. Enter Cash Compensation (Box 4) from PPP Schedule A Worksheet, Table 2: $15,385

Line 5. Enter Average FTE (Box 5) from PPP Schedule A Worksheet, Table 2: 1

PPP Schedule ANon-Cash Compensation Payroll Costs During the Covered Period or the Alternative Payroll Covered Period Line 6. Total amount paid by Borrower for employer contributions for employee health insurance: __________ Line 7. Total amount paid by Borrower for employer contributions to employee retirement plans: __________Line 8. Total amount paid by Borrower for employer state and local taxes assessed on employee compensation: __________

Compensation to Owners Line 9. Total amount paid to owner-employees/self-employed individual/general partners: __________

This amount may not be included in PPP Schedule A Worksheet, Table 1 or 2. If there is more than one individual included, attach a separate table that lists the names of and payments to each.

Total Payroll Costs Line 10. Payroll Costs (add lines 1, 4, 6, 7, 8, and 9): $32,464

Full-Time Equivalency (FTE) Reduction Calculation If you have not reduced the number of employees or the average paid hours of your employees between January 1, 2020 and the end of the Covered Period, check here ☐, skip lines 11 and 12 and enter 1.0 on line 13.

Line 11. Average FTE during the Borrower’s chosen reference period: 4.0 Line 12. Total Average FTE (add lines 2 and 5): 3.0Line 13. FTE Reduction Quotient (divide line 12 by line 11) or enter 1.0 if FTE Safe Harbor is met: .75

PPP Loan Forgiveness Calculation FormForgiveness Amount Calculation: Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): $32,464Line 2. Business Mortgage Interest Payments: $ 1,000Line 3. Business Rent or Lease Payments: $ 5,555Line 4. Business Utility Payments: $ 5,000

Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage Reductions Line 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): $2,000 Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: $42,019 Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): .75

Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): $31,514 Line 9. PPP Loan Amount: $52,500Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75) $43,285

Forgiveness Amount Line 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): $31,514

Sec. 1106 Loan Forgiveness

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Documents to submit to lender with application:

Payroll: Documentation verifying the eligible cash compensation and non-cash benefit payments from the Covered Period or the Alternative Payroll Covered Period consisting of each of the following:

• Bank account statements or third-party payroll service provider reports documenting the amount of cash compensation paid to employees.

• Tax forms (or equivalent third-party payroll service provider reports) for the periods that overlap with the Covered Period or the Alternative Payroll Covered Period:

• Payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941); and• State quarterly business and individual employee wage reporting and unemployment insurance

tax filings reported, or that will be reported, to the relevant state.• Payment receipts, cancelled checks, or account statements documenting the amount of any employer

contributions to employee health insurance and retirement plans that the Borrower included in the forgiveness amount (PPP Schedule A, lines (6) and (7)).

Loan Forgiveness

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Documents to submit to lender with application:

FTE: Documentation showing (at the election of the Borrower):

• The average number of FTE employees on payroll per month employed by the Borrower between February 15, 2019 and June 30, 2019;

• The average number of FTE employees on payroll per month employed by the Borrower between January 1, 2020 and February 29, 2020; or

• In the case of a seasonal employer, the average number of FTE employees on payroll per month employed by the Borrower between February 15, 2019 and June 30, 2019; between January 1, 2020 and February 29, 2020; or any consecutive twelve-week period between May 1, 2019 and September 15, 2019.

The selected time period must be the same time period selected for purposes of completing PPP Schedule A, line 11. Documents may include payroll tax filings reported, or that will be reported, to the IRS (typically, Form 941) and state quarterly business and individual employee wage reporting and unemployment insurance tax filings reported, or that will be reported, to the relevant state. Documents submitted may cover periods longer than the specific time period.

Loan Forgiveness

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Documents to submit to lender with application:

Nonpayroll: Documentation verifying existence of the obligations/services prior to February 15, 2020 and eligible payments from the Covered Period.

• Business mortgage interest payments: Copy of lender amortization schedule and receipts or cancelled checks verifying eligible payments from the Covered Period; or lender account statements from February 2020 and the months of the Covered Period through one month after the end of the Covered Period verifying interest amounts and eligible payments.

• Business rent or lease payments: Copy of current lease agreement and receipts or cancelled checks verifying eligible payments from the Covered Period; or lessor account statements from February 2020 and from the Covered Period through one month after the end of the Covered Period verifying eligible payments.

• Business utility payments: Copy of invoices from February 2020 and those paid during the Covered Period and receipts, cancelled checks, or account statements verifying those eligible payments.

Loan Forgiveness

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Documents that Each Borrower Must Maintain but is Not Required to Submit

PPP Schedule A Worksheet or its equivalent and the following:

• Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 1, including the “Salary/Hourly Wage Reduction” calculation, if necessary.

• Documentation supporting the listing of each individual employee in PPP Schedule A Worksheet Table 2; specifically, that each listed employee received during any single pay period in 2019 compensation at an annualized rate of more than $100,000.

• Documentation regarding any employee job offers and refusals, firings for cause, voluntary resignations, and written requests by any employee for reductions in work schedule.

• Documentation supporting the PPP Schedule A Worksheet “FTE Reduction Safe Harbor.”

Loan Forgiveness

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Documents that Each Borrower Must Maintain but is Not Required to Submit

All records relating to the Borrower’s PPP loan, including documentation submitted with its PPP loan application, documentation supporting the Borrower’s certifications as to the necessity of the loan request and its eligibility for a PPP loan, documentation necessary to support the Borrower’s loan forgiveness application, and documentation demonstrating the Borrower’s material compliance with PPP requirements. The Borrower must retain all such documentation in its files for six years after the date the loan is forgiven or repaid in full, and permit authorized representatives of SBA, including representatives of its Office of Inspector General, to access such files upon request.

How Can We Help You?

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ALEX NUGENTExperienced Associate

678-510-2821anugent@windhambrannon.com

GARY GRUNERSenior Manager678-510-2887

ggruner@windhambrannon.com

LAURA BERRYPrincipal

678-510-2790lberry@windhambrannon.com

PPP ForgivenessSlide Number 2Coronavirus Aid, Relief, and�Economic Security Act - CARES ActSlide Number 4Slide Number 5Loan Size ComparisonPPP Lenders – Highest Approved DollarsPaycheck Protection Program�Allowable Uses of Covered Loans�Updated Clarification and Changes for Loan ForgivenessAlternative Payroll Covered PeriodCost Paid or Incurred - PayrollCost Paid or Incurred – Nonpayroll CostsAverage FTE DefinitionFTE Reduction ExemptionLoan Forgiveness ApplicationLoan Forgiveness ApplicationLoan Forgiveness ApplicationExample FactsLoan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessPPP Schedule APPP Schedule APPP Schedule APPP Loan Forgiveness Calculation FormSec. 1106 Loan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessLoan ForgivenessHow Can We Help You?