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How much can you receive in a PPP loan, and how much can be forgiven?

There are a lot of qualifications for how much your business can receive in PPP loans, and even more for how much could be forgiven. We have created a calculator to help estimate what you can expect.

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In this post:

🐣What is a PPP Loan?

🐣How Much Could My Loan Be, and How Much Could Be Forgiven?

What is a PPP Loan?

A quick refresher: Payment Protection Program (PPP) Loans are government loans designed to help small businesses stay afloat during the unprecedented economic impacts of the COVID-19 pandemic. These government loans don’t require a credit check or a personal guarantee, and they are administered by the Small Business Association (SBA). PPP loans are open to all self-employed people and small business owners, whether you’re defined as an LLC, corporation, sole props (with or without employees), or independent contractors. To read more about qualifying for the PPP, click here.

What makes PPP loans so unique, and beneficial, is that their favorable terms for small business owners, such as 1% fixed APR over 2-year term, 6-month delay on first payment, all with no personal guarantee requirement. And, the government offers full loan forgiveness -- meaning you won’t have to pay any of it back-- if the entire loan is used toward “qualifying costs,” such as rent, payroll and utilities.

However, businesses need money for a variety of things. For most people, some of your PPP loan can be forgiven, some will have to be paid back.

How Much Could My Loan Be, and How Much Could Be Forgiven?

To help you easily get to the bottom of what amounts you might receive, what you will owe back, and what could be forgiven, we’ve built an ultra-simple, easy-to-use calculator that covers all the qualifying variables of your business, and gives you some real numbers to use as estimates.

>>Click here to use our PPP Loan Calculator.

The calculator page also contains in-depth answers to your most frequently asked questions about PPP loans and PPP loan forgiveness, including what expenses qualify for forgiveness, what happens if you have to reduce employee salaries, and specific examples on how to add everything up.

We know you’re facing a lot right now. We hope this makes your budgeting a little easier!


‍At Nearside, we offer small business owners something that no other lending company does: a fresh start and the benefit of the doubt. We extend a line of credit (up to $5,000) to business owners who are just starting out, without requiring a previous business history or a great credit score. Click here to learn more about applying for your Nearside Card today!

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