PPP Loan Forgiveness Application Review 101€¦ · PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received

BANK

PPP Loan Forgiveness Application Review

101

What is the objective of this Webinar?

Agenda

• Introductions

• Background Information

• PPP Loan Forgiveness Application Review

• Questions & Answers

• Next Steps

WALTERS &ASSOCIATES ----CPAs---CERTrFrEo PUBLIC ACCOUNTANTS

Q&A Moderator

Patricia Entsminger

Doug Walters

Rick Halloran Sabal Palm Bank

Executive Vice President Craig Bennison Senior Lending Officer

PPP Loan Forgiveness Application (11 pages)

• Pages 1-2: Instructions - PPP Loan Forgiveness Calculation • Page 3: PPP Loan Forgiveness Calculation form • Page 4: Borrower Certifications • Page 5: Instructions - Schedule A • Page 6: Schedule A formPages • Pages 7-8: Instructions - Schedule A Worksheets • Pages 9: Schedule A Worksheet form • Page 10: Documents Required • Page 11: Demographic

PPP Loan Forgiveness Application Components/Pages

Instructions PPP Loan Forgiveness Calculation Form

Instructions PPP Schedule A

Instructions PPP Schedule A Worksheets

PPP Loan Forgiveness Calculation Form PPP Schedule A

CERTIFICATION

(page 4)

PPP Schedule A Worksheets

(page 3) (page 6) (page 9)

(pages 1-2) (page 5) (pages 7-8)

Documents Required (page 10)

Demographic Information (page 11) *Optional*

I. II. III.

Paycheck Protection Program OMB Control Number 3245-0407 Loan Forgiveness Application Expiration Date: 10/31/2020

PPP Loan Forgiveness Calculation Form

Business Legal Name (“Borrower”) DBA or Tradename, if applicable

Business Address Business TIN (EIN, SSN) Business Phone ( ) -

Primary Contact E-mail Address

SBA PPP Loan Number: ________________________ Lender PPP Loan Number: __________________________

PPP Loan Amount: _____________________________ PPP Loan Disbursement Date: _______________________

Employees at Time of Loan Application: ___________

Employees at Time of Forgiveness Application: ___________

EIDL Advance Amount: ________________________ EIDL Application Number: __________________________

Payroll Schedule: The frequency with which payroll is paid to employees is:

Weekly Biweekly (every other week) Twice a month Monthly Other _____________

Covered Period: ________________________ to ________________________

Alternative Payroll Covered Period, if applicable: ________________________ to _______________________

If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:

Forgiveness Amount Calculation:

Payroll and Nonpayroll Costs Line 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________

Line 2. Business Mortgage Interest Payments: _____________________

Line 3. Business Rent or Lease Payments: _____________________

Line 4. Business Utility Payments: _____________________

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): _____________________

Line 6. Add the amounts on lines 1, 2, 3, and 4, then subtract the amount entered in line 5: _____________________

Line 7. FTE Reduction Quotient (enter the number from PPP Schedule A, line 13): _____________________

Potential Forgiveness Amounts Line 8. Modified Total (multiply line 6 by line 7): _____________________

Line 9. PPP Loan Amount: _____________________

Line 10. Payroll Cost 75% Requirement (divide line 1 by 0.75): _____________________

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

http:Line10.PayrollCost75%Requirement(divideline1by0.75

I



1. Background Information

2. Forgiveness Calculation


























Paycheck Protection Program OMB Control Number 3245-0407Loan Forgiveness Application Expiration Date: 10/31/2020

SBA Form 3508 (05/20)Page 3



Business Address Business TIN (EIN, SSN) Business Phone( ) -













Payroll and Nonpayroll CostsLine 1. Payroll Costs (enter the amount from PPP Schedule A, line 10): _____________________




Adjustments for Full-Time Equivalency (FTE) and Salary/Hourly Wage ReductionsLine 5. Total Salary/Hourly Wage Reduction (enter the amount from PPP Schedule A, line 3): _____________________



Potential Forgiveness AmountsLine 8. Modified Total (multiply line 6 by line 7): _____________________



Forgiveness AmountLine 11. Forgiveness Amount (enter the smallest of lines 8, 9, and 10): _____________________

1.Background Information





























1.Background Information

I

P'~.-i;·.·~ ... · .~,t!di . .rj~r'~ . -

. . ' .

I'

I

I

I I

I

J J _J

-•


LOAN FORGIVENESS APPLICATION INSTRUCTIONS FOR BORROWERS

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to your Lender (or the Lender that is servicing your loan). Borrowers may also complete this application electronically through their Lender.

This application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form. All Borrowers must submit (1) and (2) to their Lender.

Instructions for PPP Loan Forgiveness Calculation Form

1. Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form.

Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower 2. Application Form, unless there has been a change in address or contact information.

SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the 3. Lender if necessary.

4. Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender.

PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender). 5. Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan 6. Application.

7. Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness.

8. PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds.

9. EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount. 10. EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number.

11. Payroll Schedule: Select the box that corresponds to your payroll schedule.

12. Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14.

13. 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.

14. If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.





























1.

2.

3.

5.

6.

7.

9.

11.

12.

13.

14.

1.1. 2.2. 2.

4.

8.

10.


I

7

I

L l I _J

- ·





























1.

2.

3.

5.

6.

7.

9.

11.

12.

13.

14.

1.1. 2.2. 2.

4.

8.

10.

OMB Control Number 3245-0407Expiration Date: 10/31/2020

1.

2.

Paycheck Protection Program 3. Loan Forgiveness Application

PPP Loan Forgiveness Calculation Form 4. Business Legal Name (“Borrower”) DBA or Tradename, if applicable 5. 1. 1.

6. Business Address Business TIN (EIN, SSN) Business Phone

( ) -Primary Contact E-mail Address

2. 1. 2. 2. 2.

7. 3. SBA PPP Loan Number: ________________________ 4. Lender PPP Loan Number: __________________________ 5. PPP Loan Amount: _____________________________ 8. PPP Loan Disbursement Date: _______________________ 8. 6. Employees at Time of Loan Application: ___________ 7. Employees at Time of Forgiveness Application: ___________ 9.

EIDL Advance Amount: ________________________ EIDL Application Number: __________________________ 9. 10. 10. Payroll Schedule: The frequency with which payroll is paid to employees is: 11.

11. Weekly Biweekly (every other week) Twice a month Monthly Other _____________ 12.

12. Covered Period: ________________________ to ________________________ 13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________

13. 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:

14.


Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form.

Business Address/Business Phone/Primary Contact/E-mail Address: Enter the same information as on your Borrower Application Form, unless there has been a change in address or contact information.

SBA PPP Loan Number: Enter the loan number assigned by SBA at the time of loan approval. Request this number from the Lender if necessary.

Lender PPP Loan Number: Enter the loan number assigned to the PPP loan by the Lender.

PPP Loan Amount: Enter the disbursed principal amount of the PPP loan (the total loan amount you received from the Lender).

Employees at Time of Loan Application: Enter the total number of employees at the time of the Borrower’s PPP Loan Application.

Employees at Time of Forgiveness Application: Enter the total number of employees at the time the Borrower is applying for loan forgiveness.

PPP Loan Disbursement Date: Enter the date that you received the PPP loan proceeds from the Lender. If loan proceeds were received on more than one date, enter the first date on which you received PPP loan proceeds.

EIDL Advance Amount: If the Borrower received an Economic Injury Disaster Loan (EIDL) advance, enter the amount.

EIDL Application Number: If the Borrower applied for an EIDL, enter the Borrower’s EIDL Application Number.

Payroll Schedule: Select the box that corresponds to your payroll schedule.

Covered Period: Enter the eight-week (56-day) Covered Period of your PPP loan. The first day of the Covered Period must be the same as the PPP Loan Disbursement Date. For example, if the Borrower received its PPP loan proceeds on Monday, April 20, the first day of the Covered Period is April 20 and the last day of the Covered Period is Sunday, June 14.

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.

If Borrower Received PPP Loans in Excess of $2 Million: Check the box if the Borrower, together with its affiliates (to the extent required under SBA’s interim final rule on affiliates (85 FR 20817 (April 15, 2020)) and not waived under 15 U.S.C. 636(a)(36)(D)(iv)), received PPP loans with an original principal amount in excess of $2 million.

PROMIISSORY NOTE

Referen,ces in the boxe,s above are f,or le:ndl:.,:r~s use ,only :and do not limit the appl:iicabUHy of this document to any particul:ar loan ;o,r item* A,ny item a.bove containing H*** 11 has been om1itted duei to text length limitations.

Borr.ower:: Lender: Saba1I! Palm Bank Downtown Office 1950, !Ring 11:ng Blvd~ Suite 101 Sarasota, FL 34i236 (941) 36,1•'1122

P B ~ IA t' rInc1pa .. .moun: :: Interest Rate: 1! .000°/o Date of Note: Aiprili 15,, 2020 SB.A LOAN #~ #

WHEN !FEDERAL LAW APPLIES~ When SBA is the holder, this Note w1ill be !interpreted and enforced under Federal law, including SBA regulations,,. Le•nder or SBA may use sta1e or local procedure:s for filing p.apers, recording docu:ments, giving notice, foreclo,slng !lle•ns, an•d ottier purpos•es,, By u:slng such procedu:re·s, SBA does not waive ariy, F'ed,eral imm:unlty from state or :local control,, !penalty~ tax, or liabH:11ty. As to this, No'te1 Borrower may, not claim or a.ssert a,inst ·ssA any local or state la.w to deny any obligationt d•efea't any claim of SBA, or preempt Fe,deral law.

COIMPLIANCE WITH PPP LOAN PROGRAM.. Lender is making thiis lo,an pursuant to 'the, !Paycheck Protection Program {the PPP) cre.ata,d by Section 1102 of the Coronavirus Aid} Relief~ and Eco:nomic Security Act (the iCARES Act), and go,verned by the CARES Act, section 7(a)(36) of the Smalli Business Act, any rules or guidance tha1 has been i.ss,ued by the Small Busines.s Adiministralion implementing the PPP~ or any other appHcable L.oan Pr,ogram !Require,ments~ as defiirmed In 13 CFR 12.0" 1 OJ as amended from tlmi,3 to time (collectively' p·pp loan Program Requiremients). Notwithstandihng anything to the contrary herein~ th:e Borrower (al ag:rees that this Promissory Note sh,aH be interpreted and construed to be consisten:t with the PPP Loan Program: Requirements and {b) authorizes the B,ank 'to unilaterally amend any provision of this Promissory N '8 to the ex,tent required! to compl'y with th•e PPP Loan Progra.m Requirernen·ts.

R· ,.f r .nces in th : box .s abov ar fo · .nd, ·r's us : on ya d do not Umit e app icabil""ty of th~s docum .nt to a y parlicula loan or it

Bor o·we:

P incipal au · : SBA OAN # #

Any ite bove1 cont · i · g ' *** " been omi .te : d e 'to , x I n . th limit t·o s.

Lender Sabal Pa m Ban : Downtown Off""ce

950 R 11g ng vd. Suite 1 o Sarasota, FL 3423,6 (941) 361-1122

nteres . Rate· 1 000°/o Date of -o· e · Apri 15, 2·· 20

W EN FEDERAL LAW .APPLIES. When SBA. is the older, this No1e will be i~te~pre1ed and enfo c~d 1Jnder Federal law includ 'ng SBA regu~at ons~. Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts , giv ng notice, fo eclcis~ng liens, an other purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia.b lity. As to t is Noe, Borrower may no c laim or assen a,gainst SBA a~y local or :state law o deny any obUgation, de 'ea any claim of SBA or p eempt ederal law.

COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (. 18 PPP) created by Sec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·,S Act, section 7(a)(36) of the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p·pp, or any other applicabll Loan rogram A qu·rements, as define ~n 13 CFR 120 .. 1 O, as amended from 'i me to tim· (call ct1vely PP · Loa Program R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th . or row r (a) ag es tha1 1h is Pro is.sory Not . shall b int rpr t d and construed to be consiste '1 wi h he PP Loan Pro_g ,am Requiremen s and (b) au h1ori •ecs the Ba1nk to1 unilater lly amen any provisio O'I 'is Promissory Note) to the ,xt .nt requilr d to complly w i h th PP Loan Program fl ·· quirem •n s.

3. SBA PPP Loan #

I I I I

'l•Pl•lllll lllll•'l'I,. •• !I •111•11111• -,'111 • • I! •1 1 111"'1'11'11' •1 • '1'1'1 l!I I 1'1111111111 'l'l'I •'1'1111111•" !! 1!111 l'I I I tlllllll ••'l'I 111111111 • 'l•••••••••••""I" -- ----.-. I I ------ .,_._._ .. - •-------- - - ••••••• ------- ,e --••••• r• •••••••••••• -"" •••••-• -e -.,e•--- I •••••••••••--- •••••••••••••••-.............. . .... , • flltlllllllf4 "11':t ......... , . 111•'1'11111 J9t • • "1"1-••• .. ••~•~•1 1 11 1 11111 'l"l'I .......... i.:!lt'IR •·••·'f••• .. l'!••tPt •tt 1 1 .. •••'l'I 1111111111•1"1•• •'ltl lllllll~ll :111 • -"············• · . ............... . ,,,.,,. • .. , • • 1111 ..... ,. ··---- ,., .... ,,,11 11 P, • · .•--"•"'''" ""'""'''"'1111" .... ., ... , ••••• , .. , .. "' .. ,,., .. _ ........... ,,,.,.,,,. P .,,., 111111•11~, .... _ __ _ ,,1111,~l"l"lt••··· 'IP••p·•·••···•ll " .. 'l'I • Pll'!.l'I'•"••·· 'II" • e•!! •·• 1•••'1'1·••1 •• 11111' 9'!1 1PIPl••111••IIII 'l'I"' ......... "l!'l••P• l!P~"•'l'l.ll "ll"ll•!l !!•l!P, 11 •"'I 11!1!1••111• -••• .. 1•111•111••1 t•• ·-· - ... ·-. ·-- .... ------·-·- .. ,. ... ... --------- ..... ·- .. . ------ .. .. . ------· -· ....... ........ . .. . -· .. ------------ ..... ... _________ .. ________ .... ______ .. ________ .. .................... . •••11•11•11111'11111'111'' "'l"'l .. •• .... • 1'"111' • 111111•11• "!1 "I•• .. ••• .. Ill'• •11•• "'IIP'"l"l "l ••, • "'I ... , .. ,. .. 11 .. 111'1'1'111!1! Ill' "'I •"1'1"111111'1"1"1"1"'1•• .. • 1'11 ••"111 1!"11111"1"1""'1•11• • .. •• •• • "'I 11"11111"111"1"1"1"'1 .. •• .. •• II 1111"1 "111"111"1"""111 • ..

R· ,.f r .nces in th : box .s abov ar fo · .nd, ·r's us : on ya d d not Umit e app icabil""ty of th~s docum .nt to a y parlicula loan or it Any ite bove1 cont · i · g ' *** " been omi .te : d e 'to , x I n th limit t·o s. ~----------------------~

Bor o·we:




nteres . Rate· 1 000°/o Date of -o· e · Apri 15, 2 ·· 20

W EN FEDERAL LAW .APPLIES. When SBA. is the older, this No1e will be i~te~pre1ed and enfo c~d 1Jnder Federal law includ 'ng SBA regu~at ons~. Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts , giv ng notice, fo eclcis~ng liens, an other purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia.b lity. As to t is Noe, Borrower may no c laim or assen a,gainst SBA a~y local or :state law o deny any obUgation, de 'ea any claim of SBA or p eempt ederal law.

COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (. 18 PPP) created by Sec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·,S Act, section 7(a)(36) of the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p·pp, or any other applicabll Loan rogram A qu·rements, as define ~n 13 CFR 120 .. 1 O, as amended from 'i me to tim· (call ct1vely PP · Loa Program R qui m 11ts]. Notwithstanding anything to th · contra y h · r in th . or row r (a) ag es tha1 1h is Pro is.sory Not . shall b int rpr t d and construed to be consiste ·t wi h he PP Loan Pro.g ,am Requiremen s and (b) au h1ori •ecs the Ba1nk to1 unilater lly amen any provisio O'I 'is Promissory Note, to the ,xt .nt requilr d to complly w i h th PP Loan Program fl ·· quirem •n s.

4. Lender PPP Loan #

3. SBA PPP Loan #

-----·-

I I I I

'l•Pl•llllllllll • 'l'I,.•• !I •111•11111•-,'111 • • I! •11 111"'1'11'11' •1 • '1'1'1 l!I I 1'1111111111 'l'l'I •'1'1111111•" !! 1!111 l'I I I tlllllll ••'l'I 111111111 • 'l• ••••••• •••""I" -- ----.-. I I ------ .,_._._ .. - •-------- - - ••••••• ------- ,e --••••• r• •••••••••••• -"" •••••-• -e -.,e•--- I •••••••••••--- •••••••••••••••-.............. . .... , • flltlllllllf4 "11':t ......... , . 111•'1'11111 J9t • • "1"1-••• .. ••~•~•1 1 11 1 11111 'l"l'I .......... i.:!lt'IR •·••·'f••• .. l'!••tPt • tt 1 1 .. •••'l'I 1111111111•1"1•• •'ltllllllll~ll:111 • -"············• · . ............... . ,,,.,,. • .. , •• 1111 ..... ,. ··---- ,., .... ,,,1111 P, • · .•--"•"'''"""'""'''"'1111" .... ., ... , ••••• , .. , .. "' .. ,,., .. _ ........... ,,,.,.,,,. P .,,., 111111•11~, .... _ _ __ ,,11111~•""''•··· 'IP••p·•·••···lll " .. 'l'I • Pll'!ll'I'•"••·· 'II" • e•!! •1• 11••'1'1·••1 •• 11111' 9'!1 1PIPl•llll•II.II 'l'I"' ......... 'l!'l••P• l!P~"•'l'l.ll 'l l'll•!l !!•l!P, 11 •"'I 11!1!1••111• -••• .. 11111••11••1 t•• ·-· - ... ·-. ·-- .... ------·-·- .. ,. ... ... --------- ..... ·-.. . ------ .. .. . ------· -· ....... ........ . .. . -· .. ------------ ..... ... _________ .. ________ .... ______ .. ________ .. .................... . •••11•11•11111' 11111'111'' "'l"'l .. •• .... •1'11111'•11 1111•11• "" '!•• .. ••• .. Ill'• •11•• "'IIP''!'l '! ••, • "'I ... , .. ,. .. 11 .. 111'1'1'1'1!1! Ill' "'I '"1'1"1111'1'1'1'1'1"'1•• .. •1'11••"111 1!'11111'1'1"111•'1• • .. •• •••"'I 1!'11111'!'1 '!'! "'1 .. •• .. •• II 11 11'! '!1! '1'1'!""'111• ..

: in th : box .s abov ar fo · .nd. ·r's us : on ya d do not Umit e app icabil""ty of th~s docum ,nt to a y parlicula loan or it

Bor o·we:


Any ite bove1 cont · i · g ' *** " been omi .te : d e 'to · x I n . th limit t·o s.



nteres . Rate· 1 000°/o Date of . o· e · Apri 15, 2 ·· 20

W EN FEDERAL LAW .APPLIES. When SBA. is the older, this No1e will be i~te~pre1ed and enfo c~d 1Jnder Federal law includ 'ng SBA regu~at ons~. Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts , giv ng notice, fo ecla.s~ng liens, an other purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia.b lity. As to t is Noe, Borrower may no c laim or assen a,gainst SBA a~y local or :state law o deny any obUgation, de 'ea any claim of SBA or p eempt ederal law.

COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (. 18 PPP) created by Sec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·.S Act, section 7(a)(36) of the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p·pp, or any other applicabll Loan rogram A qu·rements, as define ~n 13 CFR 120 .. 1 O, as amended from 'i me to tim· (call ct1vely PP · Loa Program R qui m 11ts] . Notwithstanding anything to th · contra y h · r in th . or row r (a) ag es tha1 1h is Pro is.sory Not . shall b int rpr t d and construed to be consiste '1 wi h he PP Loan Pro.g ,am Requiremen s and (b) au h1ori •ecs the Ba1nk to1 unilater lly amen any provisio O'I 'is Promissory Note, to the ·xt .nt requilr d to complly w i h th PP Loan Program Ft-· quirem •n s.

5. PPP Loan A Amount 4. Lender PPP Loan #

3. SBA PPP Loan #


1.

2.




Primary Contact E-mail Address 1. ( ) -2. 6. 2. 2.






14.
















-----·-

I I I I

'l•Pl•llllllllll • 'l'I,.•• !I •111•11111•-,'111 • • I! •11 111"'1'11'11' •1 • '1'1'1 l!I I 1'1111111111 'l'l'I •'1'1111111•" !! 1!111 l'I I I tlllllll ••'l'I 111111111 • 'l• ••••••• •••""I" -- ----.-. I I ------ .,_._._ .. - •-------- - - ••••••• ------- ,e --••••• r• •••••••••••• -"" •••••-• -e -.,e•--- I •••••••••••--- •••••••••••••••-.............. . .... , • flltlllllllf4 "11':t ......... , . 111•'1'11111 J9t • • "1"1-••• .. ••~•~•1 1 11 1 11111 'l"l'I .......... i.:!lt'IR •·••·'f••• .. l'!••tPt • tt 1 1 .. •••'l'I 1111111111•1"1•• •'ltllllllll~ll:111 • -"············• · . ............... . ,,,.,,. • .. , •• 1111 ..... ,. ··---- ,., .... ,,,1111 P, • · .•--"•"'''"""'""'''"'1111" .... ., ... , ••••• , .. , .. "' .. ,,., .. _ ........... ,,,.,.,,,. P .,,., 111111•11~, .... _ _ __ ,,11111~•""''•··· 'IP••p·•·••···lll " .. 'l'I • Pll'!ll'I'•"••·· 'II" • e•!! •1• 11••'1'1·••1 •• 11111' 9'!1 1PIPl•llll•II.II 'l'I"' ......... 'l!'l••P• l!P~"•'l'l.ll 'l l'll•!l !!•l!P, 11 •"'I 11!1!1••111• -••• .. 11111••11••1 t•• ·-· - ... ·-. ·-- .... ------·-·- .. ,. ... ... --------- ..... ·-.. . ------ .. .. . ------· -· ....... ........ . .. . -· .. ------------ ..... ... _________ .. ________ .... ______ .. ________ .. .................... . •••11•11•11111' 11111'111'' "'l"'l .. •• .... •1'11111'•11 1111•11• "" '!•• .. ••• .. Ill'• •11•• "'IIP''!'l '! ••, • "'I ... , .. ,. .. 11 .. 111'1'1'1'1!1! Ill' "'I '"1'1"1111'1'1'1'1'1"'1•• .. •1'11••"111 1!'11111'1'1"111•'1• • .. •• •••"'I 1!'11111'!'1 '!'! "'1 .. •• .. •• II 11 11'! '!1! '1'1'!""'111• ..

R· ,.f r . nces in th : ------=-----~o · .nd, · r's us : on y a d do not U mit e app icabi l""ty of th~s docum .nt to a y parlicula loan or it

Bor o·we:


bove1 cont · i · g ' *** " been omi .te : d e 'to , x I n . th limit t·o s.



nteres . Rate· 1 000°/o Date of . o· e · Apri 15, 2 ·· 20

W EN FEDERAL LAW .APPLIES. When SBA. is the older, this No1e will be i~te~pre1ed and enfo c~d 1Jnder Federal law includ 'ng SBA regu~at ons~. Lender or S A may use state cit loca procedures for fihng papers~ recording docume ts , giv ng notice, fo ecla.s~ng liens, an other purposes~ By using s c proced res~ S A does not waive any Federal ~mmunity from state or local control~ pe a ty~ ax~ or l'ia.b lity. As to t is Noe, Borrower may no c laim or assen a,gainst SBA a~y local or :state law o deny any obUgation, de 'ea any claim of SBA or p eempt ederal law.

COMPLIANCE WITH PPP LOAN PROGRlA . Lend1er is making tlhis loan pursuant to the Paye eek Protec ion Program (. 18 PPP) created by Sec ~an 102 of the Coron av rus Aid, Rehef\ a d ~conomic Security Act (the CARES Act) and governed by· the CARI ·.S Act, section 7(a)(36) of the Small Busl ess Act, a1ny rules or guidance tha1 has been issued b1y· he Small B siness Administration implementing the p·pp, or any other applicabll Loan rogram A qu·rements, as define ~n 13 CFR 120 .. 1 O, as amended from 'i me to tim· (call ct1vely PP · Loa Program R qui m 11ts] . Notwithstanding anything to th · contra y h · r in th . or row r (a) ag es tha1 1h is Pro is.sory Not . shall b int rpr t d and construed to be consiste '1 wi h he PP Loan Pro.g ,am Requiremen s and (b) au h1ori •ecs the Ba1nk to1 unilater lly amen any provisio O'I 'is Promissory Note) to the ,xt .nt requilr d to complly w i h th PP Loan Program Ft-· quirem ,n s.

5. PPP Loan A Amount 4. Lender PPP Loan #

3. SBA PPP Loan #


1.

2.










14.
















I I


1.

2.










14.
















I I


__

EIDL

yroll

o

1.

2.





7. 3. SBA PPP Loan Number: ________________________ 4. Lender PPP Loan Number: __________________________ 5. PPP Loan Amount: _____________________________ 8. PPP Loan Disbursement Date: 8. 6. Employees at Time of Loan Application: ___________

11. Weekly Biweekly (every ther week) Twice a month Monthly Other _____________

Payroll Schedule: The frequency with which pa is paid to employees is:

7. Employees at Time of Forgiveness Application:

_____________________

Application Number: ________________________

___________ 9. EIDL Advance Amount: __________________________ 9. 10. 10.

11.

Covered Period: ________________________ to ________________________ 12.

12.

13. Alternative Payroll Covered Period, if applicable: ________________________ to _______________________ 13. 14. If Borrower (together with affiliates, if applicable) received PPP loans in excess of $2 million, check here:

14.
















ttttttttttttttttttttttttt

ttttttttttttttttttttttttt

Covered Period

56 Days

Loan Disbursement

Ending Date

Loan Disbursement

Ending Date

Monday

4/13/20

Monday

6/8/20

Monday

5/18/20

Monday

7/13/20

Tuesday

4/14/20

Tuesday

6/9/20

Tuesday

5/19/20

Tuesday

7/14/20

Wednesday

4/15/20

Wednesday

6/10/20

Wednesday

5/20/20

Wednesday

7/15/20

Thursday

4/16/20

- - - - --Thursday

6/11/20

Thursday

5/21/20

Thursday

7/16/20

Friday

4/17/20

Friday

6/12/20

Friday

5/22/20

Friday

7/17/20

Monday

4/20/20

-Monday

6/15/20

Monday

5/25/20

Monday

7/20/20

Tuesday

4/21/20

Tuesday

6/16/20

Tuesday

5/26/20

Tuesday

7/21/20

Wednesday

4/22/20

Wednesday

6/17/20

Wednesday

5/27/20

Wednesday

7/22/20

Thursday

4/23/20

Thursday

6/18/20

Thursday

5/28/20

Thursday

7/23/20

Friday

4/24/20

Friday

6/19/20

Friday

5/29/20

Friday

7/24/20

Monday

4/27/20

Monday

6/22/20

Monday

6/1/20

Monday

7/27/20

Tuesday

4/28/20

Tuesday

6/23/20

Tuesday

6/2/20

Tuesday

7/28/20

Wednesday

4/29/20

Wednesday

6/24/20

Wednesday

6/3/20

Wednesday

7/29/20

Thursday

4/30/20

Thursday

6/25/20

Thursday

6/4/20

Thursday

7/30/20

Friday

5/1/20

Friday

6/26/20

Friday

6/5/20

Friday

7/31/20

Monday

5/4/20

Monday

6/29/20

Monday

6/8/20

Monday

8/3/20

Tuesday

5/5/20

Tuesday

6/30/20

Tuesday

6/9/20

Tuesday

8/4/20

Wednesday

5/6/20

Wednesday

7/1/20

Wednesday

6/10/20

Wednesday

8/5/20

Thursday

5/7/20

Thursday

7/2/20

Thursday

6/11/20

Thursday

8/6/20

Friday

5/8/20

Friday

7/3/20

Friday

6/12/20

Friday

8/7/20

Monday

5/11/20

Monday

7/6/20

Monday

6/15/20

Monday

8/10/20

Tuesday

5/12/20

Tuesday

7/7/20

Tuesday

6/16/20

Tuesday

8/11/20

Wednesday

5/13/20

Wednesday

7/8/20

Wednesday

6/17/20

Wednesday

8/12/20

Thursday

5/14/20

Thursday

7/9/20

Thursday

6/18/20

Thursday

8/13/20

Friday

5/15/20

Friday

7/10/20

Friday

6/19/20

Friday

8/14/20

I I


1.

2.




( ) -Primary Contact E-mail Address

2. 1. 2. 2. 2.






14.
















I




2. Forgiveness Calculation






















































2.Forgiveness Calculation I





























I





























I. Forgivable

Costs

III. Three

Forgiveness Scenarios

IV. Final

Forgiveness

II. Adjustments





























I. Forgivable

Costs

III. Three

Forgiveness Scenarios

IV. Final