For influencers, for most of you if you're getting paid with the 1099, what you want to do is you want to look at your Schedule C from your 2019 taxes, and you want to look at your net earnings. A schedule C form from the IRS, it's going to be line 31 there. That's going to be your net earnings. You're going to divide that by 12, and then multiply it by two and a half. If it's just you, that's what you're going to do.

Now, if you have employees, like for Fohr, we took 2019 average payroll across the whole year and said this is the average amount of money we were spending per month on payroll, and we multiplied that by two and a half. That's how we got the number that the loan that we applied for. If you have employees, if you have employees who get a salary, then you can use that number. You can use those employees in your number of how big your loan is going to be. If it's just you, you're going to take your 1099 Schedule C, divide it by 12.

Now, there's a very important caveat there. The government is not subsidizing salaries over $100,000. If you made $150,000 last year on your Schedule C and that's what it says, you're only going to be able to get a $100,000. In that case, it's going to be $8,300 a month. $8,300 times 2.5 is about $20,500 and some change, something like that. That is the size of loan that you can apply for. If you're a single person, you don't have employees, you made over $100,000, your loan amount is going to be about $20,500. If you use that money to pay yourself for the next eight weeks after you get the money, and your rent and some other things, but 75% of it needs to go to paying you, then that loan should be forgiven and you don't have to pay it back, which is very exciting. We'll get into more of forgiveness later.