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PPP Loan Resource Tools

The Payment Protection Program (PPP) loans have been a vital piece of assistance for many small businesses; especially with the forgiveness that loan proceeds may qualify for.

While we anticipate information and guidance regarding the forgiveness process and the necessary documentation for this benefit from the Small Business Administration (SBA), we understand the importance of being proactive for our customers during these times.


Anticipated PPP Forgiveness Documentation

PPP loan recipients need to familiarize themselves with the current SBA guidance available on PPP loan forgiveness and plan accordingly for making applications to their PPP lender for forgiveness of any eligible amounts and the possibility of loans not being 100% forgiven. In order to provide as much information as possible, below are links to documents expected to be necessary in the forgiveness application process as well as an information calculator to help business owners evaluate their potential forgiveness.

PPP Forgiveness Requested Documentation
PPP Forgiveness Calculator

Below is a spreadsheet document that will help calculate a potential forgiven dollar amount for your PPP loan. While this is not an official determination, we hope you find it helpful to anticipate what amount might be eligible for forgiveness.

Download PPP Forgiveness Calculator (Temporarily Disabled) - On May 15, 2020 SBA released new forgiveness guidelines that are currently being reviewed by Adams Bank & Trust. Please check back for future updates.
 

NOTICE: THIS CALCULATOR IS NOT LEGAL ADVICE OR A LEGAL INTERPRETATION OF THE CARES ACT, SBA INTERIM FINAL RULES, REGULATIONS OR OTHER FEDERAL GUIDANCE. IT IS FOR EDUCATIONAL AND INFORMATIONAL PURPOSES ONLY. ADAMS BANK & TRUST FULLY EXPECTS SBA TO PROVIDE FORGIVENSS GUIDANCE, WHICH COULD MATERIALLY IMPACT THE CALCULATIONS PRESENT IN THIS DOCUMENT. LEGAL INTERPRETATION SHOULD BE PROVIDED BY AN ATTORNEY OR ACCOUNTANT.

Up-to-date official guidance is available at the U.S. Department of the Treasury's website: https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses

For questions on the forgiveness process or the documents provided above, please contact your Adams Bank & Trust Lender.




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