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READ ME
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Last Updated 4/12/2020 6:55 PM ET
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Update tracker
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4/12/2020 - corrected a few minor errors around loan sizing and forgiveness amount (specifically capped amount of forgiveness given non-payroll costs, the exact calculation of 8-week earnings for capped cash compensation) and clarified language (adding nuance around seasonality for data and typo on about illegal businesses and eligibility)
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4/8/2020 - changed payroll cost calculation to explicitly separate out cash vs non-cash compensation, increasing max loan and forgiveness amount if one has employees making in excess of $100,000/year
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4/7/2020 - changed instructions to allow copying of spreadsheet without need to request access, provided form for feedback
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4/5/2020 - overhauled Possible Loan Forgiveness section to correct previous errors and allow for more detailed calculation of forgiveness amount
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Background
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On March 27, Congress passed a historic stimulus bill (CARES Act) to blunt the economic damage of COVID-19. This legislation included a novel program, the Paycheck Protection Program (PPP), by which small businesses could get SBA loans (that can convert into grants) if they successfully retain employees.

This tool was created to help start-ups and other small businesses by saving them time in figuring out what PPP might have to offer their business. The estimator is designed to help a business owner understand if their company is likely eligible for the PPP. And if so, how large a loan they might be able to get and what amount of that might be forgivable.

This also includes an overview other government programs (employee retention credit, deferred payroll taxes, EIDL, FFCRA) that employers should consider in addition to PPP and how you qualify for them.
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Instructions
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1Read this!
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2Review the "List of Program" tab
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3Review the "PPP Estimator" tab
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Copy spreadsheet (to enter your own info), by clicking "File" in the top left corner, then "Make a copy."
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Complete with your information and see the results.
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Fill out this brief feedback form (bit.ly/PPP-estimator-feedback) on what you thought of it
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(Optional) Follow up with Zac & Cam on any other thoughts or questions.
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Questions
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If you have any questions, suggestions, or something seems off, please reach out to Zac (zdearing@gmail.com) or Cam (cameron@alleycorp.com).
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Creator
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This was created by Zac Dearing & Cam Porter. Zac is a Harvard Law trained (almost, graduating in May) former consultant, passionate about helping small businesses, and is a venture fellow at AlleyCorp, an NYC based venture capital fund. Cam is an associate at AlleyCorp.
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Cam's Linkedin
Cam's Twitter
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Zac's Linkedin
Zac's Twitter
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Acknowledgments
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It takes a village to create a basic tool to estimate PPP. A few special acknowledgments:
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+ Michael A. Buxbaum (Partner, Lowenstein Sandler LLP) for his statutory expertise and insightfulness on taking complicated, vague rules and making them into executable formulas
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+ Chao He (Founding Partner, Swenson He) for calling attention to need to account for non-cash compensation separately given latest guidance from Treasury that only cash compensation counts towards $100,000/year cap
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 + HBS students working with MBAs Fighting COVID-19 (Will Baine, Scott Cara, Andy Harris, Sylvester Wee, William Yeo) for reviewing the estimator with a fine-tooth, analytical comb and finding several calculation mistakes
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Disclaimer
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Program details are changing quickly on this with new guidance and information coming out nearly daily from the SBA and Treasury Department, so it is possible (likely even) that the latest nuances might not be included. And even if they are, it is possible that future adjustments could potentially impact eligibility. With that said, citations and source are included for every line, so one can readily follow the thinking and "check" the work.

Additionally, this is not be used as legal advice. This is simply a tool to help a business owner understand approximately if their company could benefit from PPP and estimate how much so.

Any mistakes are exclusively the responsible of the creators, Zac & Cam. If you see any, please let them know.
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