https://www.cougarboard.com/board/message.html?id=23443250

·         Loan limit is lower of $10 mil or 2.5 times 12 month AVERAGE  payroll.  This means ONE month payroll times 2.5 (makes more sense too).

(c) Maximum Loan Amount.—During the covered period, with respect to any loan guaranteed under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) for which an application is approved or pending approval on or after the date of enactment of this Act, the maximum loan amount shall be the lesser of—

(1) the product obtained by multiplying—

(A) the average total monthly payments by the applicant for payroll, mortgage payments, rent payments, and payments on any other debt obligations incurred during the 1 year period before the date on which the loan is made, except that, in the case of an applicant that is seasonal employer, as determined by the Administrator, the average total monthly payments for payroll shall be for the period beginning February  15, 2019 and ending June 30, 2019; by  (not a typo -  it is 2019 for averages)

(b) 2.5

(2) $10,000,000.