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PPP Grants Additional Funds for Schedule C's and Independent Contractors
Over the past few weeks, the Biden Administration passed new legislation helping Schedule C’s and Independent Contractors with the ability to gain more PPP funding.
Here are a few highlights:
1. Ability to calculate your loan amount based on your gross income instead of net income (income before any costs)
2. If you made less than 150k of gross income on the PPP application, the safe harbor ruling applies
3. Additional eligibility requirements for non-financial fraud felonies and student loan delinquencies
What does this mean for you?
The President signed the new bill extending the PPP program by 2 months, allowing you to gain those additional funds from the Schedule C application.
Do you think you qualify?
Are you struggling to find Financial Guidance during the COVID-19 hardship?
We’ve been helping clients with disaster relief, survival budgeting, and cash management plans since March!
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The SBA has stopped accepting new applications for the Paycheck Protection Program from most lenders, almost a full month ahead of the loan’s application deadline.
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A week ago, on Tuesday, March 30, 2021, the President signed into law the PPP Extension Act of 2021. About $60 billion remain available in SBA Loan funding.
PPP Grants Additional Funds for Schedule C’s and Independent Contractors
A few weeks ago, the Biden Administration passed new legislation helping Schedule C’s and Independent contractors with the ability to gain more PPP funding
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Paycheck Protection Program Application 2021
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