Calculating Paycheck Protection Program (PPP) Loan Amount.

SBA is very specific about who in your business should be included while calculating payroll costs for the PPP Loan.  Businesses applying for the PPP loan should include employees' salary, wages, commissions, and/or tips.  All benefits paid to the employee which include sick leave, paid time off, health coverage, 401k or other retirement plan funds, state & local taxes, and any other allowance for separation or dismissal should be included.  The application requires businesses to submit form 940, payroll expenses report from Jan 1 to Feb 15, 2020, some banks require bank statements if you don't have an existing relationship, some require both form 940 from 2019 & W3 filed for 2019.  
Self-employed individuals, who are generally independent contractors or sole proprietors are not part of the payroll calculations because they are not employees.  They should apply for their own PPP loan with their SBA lender and provide appropriate documentation such as 1099 or their bank statements as proof of income.

SBA also excludes any payroll costs to individuals who do not have a principal place of residence as the United States, any compensation greater than $100,000 per year is excluded from calculating payroll costs for the loan, federal income taxes withheld, including FICA, Railroad Retirement Act taxes (both employee and employer's share) are excluded from feb 15, 2020 to June 30, 2020.  Qualified Sick leave and family leave wages for which a credit is allowed under the Families First Coronavirus Response Act is also excluded.  
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The interest rate will be 1% or 100 basis points on the PPP loan, the maturity is two years with a maximum maturity of up to ten years from the date the borrower applies for loan forgiveness.  The first payment is due six months from the date of disbursement of the loan, however, interest will continue to accrue on the PPP loan during the six-month deferment period.  The borrower can apply for loan forgiveness for which the full principal amount can be forgiven based on how much of the loan was used for payroll costs.  There will be more guidance issued on forgiveness by the SBA.  Email at [email protected] with questions.