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How do I qualify for full forgiveness of my PPP loan?
  • Your loan will be fully forgiven if at least 60% of the funds are used on payroll in the 8- or 24-week period following your loan’s funding date.
  • You can use up to 100% of the loan for payroll.
  • If you use less than 100% of the loan for payroll, then the remaining 40% can go toward other eligible, nonpayroll expenses.

    MoFi Tip: Using 100% of your loan for payroll is the simplest way to meet the Small Business Administration’s forgiveness requirements.