Unlike other SBA loan programs, the financial terms for Paycheck Protection Program (PPP) loans are uniform for all borrowers. The standard underwriting process does not apply because no creditworthiness assessment is required for PPP loans. Consequently, there is no meaningful risk of underwriting bias or below-market rates and terms. It has also been recognized that […]
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Am I eligible for the Paycheck Protection Program (PPP) loan if I have income from self-employment and file a Form 1040, Schedule C? You are eligible for the Paycheck Protection Program (PPP) loan if: You were in operation on February 15, 2020; You are an individual with self-employment income (such as an independent contractor or […]
Paycheck Protection Program (PPP) Eligibility Requirements You are eligible if you are: A small business with fewer than 500 employees A small business that otherwise meets the SBA’s size standard A 501(c)(3) with fewer than 500 employees An individual who operates as a sole proprietor An individual who operates as an independent contractor An individual […]
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