Paycheck Protection Program

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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?


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