INSTRUCTIONS ( Follow steps below and enter amounts only in the green boxes above)
Step 1: To complete your forgiveness request, you will need the final Loan Borrower Loan Calculation Worksheet used to determine your loan amount
Step 2: Section A - Eligible Payroll / Owners Compensation (For the 3 months immediately following the your loan closing date, complete Box 1 thru 6, if applicable)
Box 1: For sole proprietors or a single member LLCs only, from your Income Statement, add each month's business net income or net loss and enter total amount.
Box 2: For sole proprietors or a single member LLCs only, from your Income Statement, add each month's depreciation and enter total amount
* If Income Statements are not available, enter the sum of the difference between total debits and total credits from each month's bank statements.
Box 3: For sole proprietors or a single member LLCs only, from the final Borrower Loan Calculation Worksheet, enter the amount for this exact title,
"Eligible Owner Compensation" .
Box 4: From your monthly payroll reports, add each month's gross payroll expense paid for W-2 employees and enter the total amount.
Box 5: From your monthly payroll reports, add each month's Employee Benefits paid and enter the total amount.
Box 6: From your monthly payroll reports, add each month's State Unemployment Taxes paid and enter the total amount.
Step 3: Section B - Eligible Other Business Expenses (For the 3 months immediately following the your loan closing date, complete Box 7 thru 10 only if the expense was included in your original loan calculation)
Box 7: From your monthly mortgage statements, add each month's mortgage interest expense paid and enter the total amount.
Box 8: From monthly loan statements, add each month's interest expense paid on other business debt and enter the total amount.
Box 9: From your bank statements, add the commercial property rent expense paid for the 3 months and enter the total amount.
Box 10: From your monthly utility statements or bank statements, add each month's commercial property utility expenses paid and enter the total amount.
Step 4: Section C - Eligible Payroll Expenses (For this section, use the final Borrower Loan Calculation Worksheet)
Box 11: Enter the amount from LINE A
Step 6: Section D - Eligible Full Time Equivalent (FTE) Employees
Box 12: From your monthly payroll reports, enter the average monthly full time equivalent employees for the 3 months immediately following your loan closing
date.
Box 13: Enter the amount from LINE F on the final Borrower Loan Calculation Worksheet
* If you are a Sole Proprietor or Single Member LLC with no W-2 employees, enter 1 in Box 12 and Box 13
* If you are a Sole Proprietor or Single Member LLC with W-2 employees, add the owner and W-2 employees and enter the total in Box 12
Step 7: Section E - Eligible Other Business Expenses (For this section, use the final Borrower Loan Calculation Worksheet)
Box 14: Enter the amount from LINE B
Box 15: Enter the amount from LINE E
IMPORTANT NOTE: To expedite your forgiveness request, please email (CTBLoanAppAssist@ctbatl.com) all applicable Income Statements, Payroll Reports, Mortgage and Other Loan Statements, Bank Statements, and Utility Statements in order that amounts entered above can be easily verified.
