How is the Paycheck Protection Program (PPP) loan size determined?

Depending on your business’s situation, the loan size will be calculated in different ways. The maximum loan size is always $10 million.

  • If you were in business February 15, 2019 through June 30, 2019: Your max loan is equal to 250% of your average monthly payroll costs during that time period. If your business employs seasonal workers, you can opt to choose March 1, 2019 as your time period start date.
  • If you were not in business between February 15, 2019 through June 30, 2019: Your max loan is equal to 250% of your average monthly payroll costs between January 1, 2020 and February 29, 2020.
  • If you took out an Economic Injury Disaster Loan (EIDL) between February 15, 2020 and June 30, 2020 and you want to refinance that loan into a Paycheck Protection Program (PPP) loan, you would add the outstanding loan amount to the payroll sum.

Show All Answers

1. What support is there for small businesses?
2. What assistance is there for nonprofits?
3. What types of businesses and entities are eligible for a Paycheck Protection Program (PPP) loan?
4. What are Small Business Administration (SBA) affiliation rules?
5. What types of non-profits are eligible for the Small Business Administration (SBA) Paycheck Protection Program (PPP) assistance?
6. How is the Paycheck Protection Program (PPP) loan size determined?
7. What costs are eligible for payroll under the Paycheck Protection Program (PPP)?
8. What costs are not eligible for payroll under the Paycheck Protection Program (PPP)?
9. What are allowable uses of loan proceeds with a Paycheck Protection Program (PPP) loan?
10. What are the loan term, interest rate, and fees for a Paycheck Protection Program (PPP) loan?
11. How is the forgiveness amount calculated under the Paycheck Protection Program (PPP)?
12. How do I get forgiveness on my Paycheck Protection Program (PPP) loan?
13. What happens after the forgiveness period for a Paycheck Protection Program (PPP) loan?
14. Can I get more than one Paycheck Protection Program (PPP) loan?
15. What kind of lender can I get a Paycheck Protection Program (PPP) loan from?
16. How does the Paycheck Protection Program (PPP) loan coordinate with Small Business Administration (SBA) existing loans?
17. How does the Paycheck Protection Program (PPP) loan work with the temporary Emergency Economic Injury Grants and the Small Business Debt Relief program?
18. Still have questions? See our other CARES Act FAQs: