The Small Business Administration (SBA), in consultation with the Department of Treasury, is providing this guidance to assist businesses in calculating their payroll costs for purposes of determining that amount of a Paycheck Protection Program (PPP) loan businesses can apply for.
Borrowers and lenders may rely on the guidance provided in this document as SBA's interpretation of the CARES Act and of the Paycheck Protection Program Interim Final Rules. The U.S. government will not challenge lender PPP actions that conform to this guidance and the PPP Interim Final Rules and any subsequent rulemaking in effect at the time.