[COVID-19] Track expenses to qualify for Payroll Protection Program loan forgiveness

Stevie LaFortune

Submit for loan forgiveness during Coronavirus (COVID-19) crisis:  Use Expensify to track your business-related expenses 

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

For more information related to the Paycheck Protection Program visit this US Small Business website.

We'll guide you here to easily create these categories to be applied to expenses, SmartScan receipts to be added to a report, and export to provide as eligible expenses.

Individuals and sole proprietors can select the Track plan in order to configure your Individual policy to match your expenses that need tracking.

• Select Track in the Inbox
• Customize your categories to relate to the expenses you'll be tracking
• payroll costs, interest on mortgages, rent, utilities, etc
• Customize your tags for additional classification
• Set Schedule Submit to automatically add expenses to reports

Your policy is all set!  Now simply create your expenses manually or with SmartScan.  Apply the appropriate categories and tags and our system will take care of the rest!

To analyze your expenses to ensure you are on track to have your SB Payroll Protection Loan forgiven 100%, check out our Community How-To page - Expense page filters and analytics.

While there are more features available, this will be all you'll need at this point.

Additional Community pages 

• How-to: Import expenses from a credit card or bank (on both the web and the app)
• Deep Dive: Employee training, webinars, and other resources
• How-to: Upgrade to a Group policy after using an Individual policy
• Deep Dive: Understanding policy types and billing options

AjamuAkpan

Hi I'm just so excited that the information I've read on your website is very encouraging hopefully I will be able to return to school very shortly thank you

AjamuAkpan

Jesus is Love

Greg Schroeder

Hi there @AjamuAkpan! Glad to hear we were able to brighten your day a little. Stay safe out there!