Learn what happens if you receive an advance through the Economic Injury Disaster Loan (EIDL) program and a Paycheck Protection Program (PPP) loan.
Note: On June 17, 2020 the SBA and Treasury released updated loan forgiveness guidance, including a revised loan forgiveness application and new EZ loan forgiveness application. The SBA may issue additional forgiveness related guidance. Please refer to the latest guidance from SBA and Treasury, and the PPP Loan Forgiveness Application to confirm current program rules.
If you received an advance through the EIDL program, it will be deducted from your forgivable amount on a PPP loan.
For example, if you received a $10,000 EIDL advance and $75,000 PPP loan, the maximum amount that would be eligible for forgiveness is $65,000.
Want to see how this can play out?
If you want to see how an EIDL advance may affect your PPP loan amount, you can use the Forgiveness Estimator. If you have received an EIDL advance that covers payroll, input that number in the ‘EIDL Adjustment’ section of the estimator.
Once you enter this amount into the Forgiveness Estimator, you may see your total loan forgiveness amount change.
Regulations and guidance from the SBA and the U.S. Department of the Treasury on the PPP are evolving rapidly and the above information may be outdated. Please refer to the latest guidance from SBA and Treasury to confirm current program rules and how they apply to your particular situation.
The funding described is made available to businesses located in the United States of America and are not available in other locations.
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