• Businesses in operation on February 15, 2020.
• Small businesses with fewer than 500 employees.
• Individuals who operate as a sole proprietorship.

• If you were in business February 15, 2019 – June 30, 2019: Your maximum loan is equal to 250 percent of your average monthly payroll costs during that time period. 
• If you were not in business between February 15, 2019 – June 30, 2019: Your maximum loan is equal to 250 percent of your average monthly payroll costs between January 1, 2020 – February 29, 2020.

• Compensation (salary, wage, commission, or similar compensation).
• Payment for vacation, parental, family, medical, or sick leave.
• Allowance for dismissal or separation.
• Payment required for group health care benefits, including the insurance premiums.
• Payment of any retirement benefit.
• Payment of State or local tax assessed on the compensation of employees.

• Employee/owner compensation over $100,000.
• Taxes imposed or withheld under chapters 21, 22, and 24 of the IRS code.
• Compensation of employees whose principal place of residence is outside the U.S.

• Payroll costs as outlined above.
• Costs related to the continuation of group health care benefits during periods of paid sick, medical, or family leave, and insurance premiums. 
• Employee salaries, commissions, or similar compensations (see exclusions above).
• Payments of interest on any mortgage obligation (which shall not include any prepayment of or payment of principal on a mortgage obligation).
• Rent 
• Utilities
• Interest on any other debt obligations that were incurred before the covered period.

• Forgiveness on a covered loan is equal to the sum of the payroll costs as described below incurred during the covered 8 week period compared to the previous year or time period.
• Payroll costs plus any payment of interest on any covered mortgage obligation plus any payment on any covered rent obligation plus any covered utility payment.

• Documentation verifying the number of employees on payroll and pay rates, including IRS payroll tax filings and State income, payroll and unemployment insurance filings.
• Documentation verifying payments on covered mortgage obligations, lease obligations, and utilities.
• Certification from a representative of your business that is authorized to certify that the documentation provided is true and that the amount that is being forgiven was used in accordance with the program’s guidelines for use.