Borrower Responsibility Calculations

Does the PPP lender need to be able to replicate the borrower’s payroll calculations?


The responsibility of accurate calculations on payroll costs falls on the borrower. Lenders are expected to perform good faith reviews of PPP Loan applications. In the event the lender identifies errors by the borrower or material lack of substantiation in the borrower’s supporting documents, the lender should work with the borrower to remedy the issue in a timely fashion.

If you are a borrower it is important to read the rules and be as accurate as possible. This will make the approval process much faster.

It is important to note that as a borrower you will be certifying the following:

Pay special attention that you will make this certification: “I further certify that the information provided in this application and the information provided in all supporting documents and forms is true and accurate in all material respects. I understand that knowingly making a false statement to obtain a guaranteed loan from SBA is punishable under the law, including under 18 USC 1001 and 3571 by imprisonment of not more than five years and/or a fine of up to $250,000; under 15 USC 645 by imprisonment of not more than two years and/or a fine of not more than $5,000; and, if submitted to a federally insured institution, under 18 USC 1014 by imprisonment of not more than thirty years and/or a fine of not more than $1,000,000.”