An individual or entity that is eligible to receive a covered loan is eligible for forgiveness of indebtedness on that loan in an amount equal to the sum of the following costs incurred and payments made during the 24-week period beginning on the date of the origination of a covered loan:

    • payroll costs (reference definition above);
    • any payment of interest on any covered mortgage obligation
    • any indebtedness or debt instrument incurred in the ordinary course of business that is a liability of the borrower, is a mortgage on real or personal property and was incurred before 2/15/2020;
    • any payment of a rent obligation made under a leasing agreement in force before 2/15/2020;
    • any utility payment related to the distribution of electricity, gas, water, transportation, telephone or interest access for which service began before 2/15/2020.