An SBA-backed loan that helps businesses keep their workforce employed during the COVID-19 crisis. Notice: the Paycheck Protection Program (PPP) ended on May 31, 2021. Existing borrowers may be eligible for PPP loan forgiveness. SBA also offers additional COVID-19 ;· In March 2021, the SBA released new guidance allowing the self-employed to choose whether they want to calculate their PPP loans based on net profit or gross income. Previously, calculations were limited to net profit, which limited the funds you could access if you’re in the habit of maximizing tax ;· Self-employed individuals and independent contractors can use PPP loans following the SBA’s guidance. If you use the loans appropriately, then your business has the potential to receive 100% loan forgiveness. Here’s a list of eligible PPP fund expenses:15/04/2020 · Update: On March 3, 2021 the SBA released a new Interim Final Rule that applies to PPP applicants who are self-employed. Prior to this change, self-employed borrowers who file Schedule C used line 31 of their Schedule C (net profit) to calculate the owner’s compensation portion of …16/04/2020 · The SBA filed its 19 th IFR, scheduled to be published on Friday, June 19, focusing on revisions made from PPP Flexibility Act, ensuring full forgiveness for self-employed, freelancers and independent contractors who took the maximum loan amount based on …SBA Paycheck Protection Program Data Lookup - FederalPayHow To Apply For A PPP Loan if You're Self-Employed | NavSBA Loans for Independent Contractors and Self Employed Paycheck Protection Program - SBASecond Draw PPP loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement: Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan; The loan proceeds are spent on payroll costs and other eligible expenses; and

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