How BlueVine Calculates Your Pre-approved PPP Loan
BlueVine calculates your pre-approved PPP loan with a simple equation using the inputs you provided for your average payroll costs in your PPP application.
- We take your average payroll costs and multiply them by 2.5—or 3.5 for restaurants and hotels applying for Second Draw1
- If you file taxes using Schedule C (e.g., sole proprietors and single-member LLCs), you have the option to calculate your loan based on net profit or gross income:
- Gross Income: You can use gross income only if you’ve applied after Mar 3, 2021. Your eligible PPP loan amount is based on Schedule C, line 7
- Net Profit: Your eligible PPP loan amount is based on Schedule C, line 31
Under the rare circumstance that you received an applicable EIDL loan, we then add the current outstanding balance of EIDL—this only applies if you are applying for First Draw.
For more information on how to estimate first draw loan amounts, review the SBA's How to Calculate First Draw PPP Loan Amounts article.
For more information on how to estimate second draw loan amounts, review the SBA's How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide article.
1 The 3.5x multiplier applies only to businesses falling under North American Industry Classification System Code 72.
The information, opinions, and advice in this post are provided for educational purposes only, and do not necessarily state or reflect those of BlueVine and/or its partners, including The Bancorp Bank and Celtic Bank. Neither BlueVine nor its partners are responsible for the accuracy of any content provided by author(s) or contributor(s). For information about BlueVine products and services, please visit the BlueVine FAQ page. For information about the Paycheck Protection Program, please visit the SBA’s page.