Ready to get your loan application started? What is my employee total compensation package worth? In addition, such information should not be relied upon as the only source of information. What is the impact of early withdrawal from my 401(k)? The calculations do not infer that the company assumes any fiduciary duties. Apply for your Economic Injury Disaster Loan through the SBA online portal and request an emergency grant of $10,000. Compare a taxable investment to a tax-deferred investment. Your 24-week covered period generally begins on the date you received your PPP funds. In the first five hours of accepting applications, Divvy processed over $800 million of loan requests. I'm self-employed, how much can I contribute to a retirement plan? You should have the same average number of full-time equivalent employees on the payroll during your loan forgiveness covered period as you did between February 15, 2019 and June 30, 2019, or January 1, 2020 and February 29, 2020. You can also apply through any of the 1800+ approved SBA 7(a) lenders. The remaining balance needs to be repaid over a 5-year period, or a 2-year period, depending on when you received your loan. How long will my money last with systematic withdrawals? How will retirement impact my living expenses? LEHI, Utah — April 8, 2020 — Divvy, the leader in spend and expense management, today announced the immediate availability of its 100%-digital application for SBA-backed Paycheck Protection Program (PPP) loans, through its partnership with Cross River Bank (CRB). The actual amount of loan forgiveness depends on how and when you spend your loan proceeds. This calculator includes Divvy's interpretation of the CARES Act and additional guidance provided by the Treasury, and you are encouraged to contact your accountants, financial advisors, and attorneys for accounting, … Enter your river data to quickly make a river cross section and calculate the cross sectional area, wetted perimeter and hydraulic radius. No assurance is given that the information is comprehensive in its coverage or that it is suitable in dealing with a customer’s particular situation. Any reduction in an employee’s salary or hourly wages of more than 25% will be subtracted from your eligible loan forgiveness amount. What are the tax savings generated by my mortgage? Payments won’t start for 6 months but interest will start accruing immediately. This calculator is not to be construed as accounting, financial or legal advice. If you don’t submit a loan forgiveness application within the earlier of either (1) 10 months after your covered period (24 weeks after you received your loan) or (2) December 31, you must start paying principal and interest payments after that period. The Coronavirus Aid, Relief, and Economic Security Act, CARES Act, was signed into law on March 27, 2020. Comparing mortgage terms (i.e. We recommend that you complete your application now with QuickBooks Capital. The new law, signed by the president on June 5, attempts to ease the burden placed on businesses that received PPP loans. Restructuring debts for accelerated payoff. Compensation of an individual in excess of $100k (including sole proprietors and independent contractors). The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed by President Trump on March 27. How do taxes and inflation impact my investment return? Please refer to the latest guidance from SBA and Treasury to confirm current program rules and how they apply to your particular situation.The resources described above are made available to businesses within the United States of America. The QuickBooks Capital enabled Paycheck Protection Program loan application process supports certain single-owner businesses and multi-owner businesses, as well as certain self-employed individuals. For continuing coverage and resources regarding both the CARES Act and COVID-19’s impacts on business, please visit our COVID-19 Relief hub. Loans are made or arranged by Intuit Financing Inc. (AK #10000990, CA #6054856, D.C. #ML1136148, FL #CF9901279, MD #03-2339, MN #MN-RL-1136148, NM #1899, ND #MB102690, RI #20183584SL and #20183583LL, SD #MYL.3279,TN #166418, VM #7194, VT #7194 and #7195)Regulations and guidance from the SBA and the U.S. Department of the Treasury on the PPP are evolving rapidly and the above information may be outdated. When should I begin saving for my child's college? Crafted in UT, USA | NMLS ID 1836522. The PPP program provides cash-flow assistance to small business owners through 100 percent federally guaranteed SBA loans to employers who maintain their payroll during this COVID-19 emergency. Paycheck Protection Program loans offered within QuickBooks Capital are issued through Cross River Bank, a New Jersey State Chartered Commercial Bank, Member FDIC. What are my long-term care insurance needs? If you received funds on more than one date, it starts on the first date. If you received a PPP loan, visit the PPP Center to see your covered period, get a loan forgiveness estimate, and access your loan agreement, payroll, and non-payroll reports.