April 6, 2020 - NFP CARES Act Webinar CARES Act Webinar - NFP - Final | Page 11

PAYCHECK PROTECTION PROGRAM
(PPP)
Maximum PPP Loan Amount: The maximum loan
amount will be the lesser of:
• the sum of 2.5 multiplied by the average total monthly
payments for payroll costs incurred during 2019,
plus previously closed EIDL loan (1/1/20-4/3/20) that
was used for payroll costs;
• or $10M.
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