It is not true that entire loan is forgiven if the payroll percent is met. Only the actual money spent on forgivable expenses (payroll + rent + interest on some debt) is forgivable. If you read the forgiveness application this is clear.

Overall though I’d expect 75-95% of program funds to be forgiven as they have extended the time window from 8 to 24 weeks making it much easier to use all funds in a forgivable way.