Advertiser Disclosure

🎁 Black Friday deals are here! See all the best holiday offers now.

Paycheck Protection Program (PPP) Loans For Contractors & Freelancers: What The Self-Employed Should Know

  • 4 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Shelbi Wescott

Shelbi Wescott

Writer at Merchant Maverick
Shelbi Wescott is a writer and educator from Portland, Oregon. When she isn't writing about ways to help small businesses, she is a published author churning out pages for her science-fiction and mystery books. In 2015, her book After Life won an Honorable Mention for Best YA Mystery from the Library Journal. (It has ghosts. And mystery.) Shelbi has both a BA in English Literature and a Masters in Teaching from Lewis and Clark College.
Shelbi Wescott
Leave a comment

4 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Wilkins PEREZ-LOPEZ

    How, does one go about claiming loan forgiveness when you are a self-employed, sole proprietor?

      This comment refers to an earlier version of this post and may be outdated.

      Jessica Dinsmore

      Hi Wilkins,

      We explain the rules and how to apply in this post on PPP Forgiveness. Definitely let us know if you still have any lingering questions after reading. Good luck!

        This comment refers to an earlier version of this post and may be outdated.

        JL Mealer

        I have a concern. First- Chase is not doing the government’s work aiding by the Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” and instead making up their own rules. My personal Acct there was not a business Acct as a Sole Proprietor and my subs (private contractors) need to be paid or they will find new jobs by the rime this bullcrap is over.
        I have their docs, the 2019-20 w-9’s and spread sheets… How best to find a local bank to get them paid.
        I’ll even forgo my own pay as long as I can get them their paychecks. Sadly, two are summer hired college students and hit that grey area of being too old for their parent’s pay-outs.
        They are losing out far more than I am and I don’t have the funds to give them bridge checks.
        BTW, I do not have an EIN for my sole proprietorship, but do for my LLC which is not really part of this handyman-mechanical business.

        HELP HELP HELP

          This comment refers to an earlier version of this post and may be outdated.

          Jessica Dinsmore

          Hi JL,

          Unfortunately, as of today, all of the funds for the Paycheck Protection Program loan program have been claimed and PPP lenders are no longer accepting new applications. We will continue to monitor the situation and will let small businesses know if more funding is allocated for the program. In the meantime, you and your subs may want to check out unemployment options to see if you qualify. The rules are more lenient right now and the payouts are more generous. We wish you all the best.

            This comment refers to an earlier version of this post and may be outdated.

          Leave a Reply

          Your email address will not be published. Required fields are marked *

          Your Review

          Comment moderation is enabled. Your comment may take some time to appear.
          Please read the "User Review and Comment Policy" before posting.

          Share

          Featured Offer: We Recommend QuickBooks 🎉

          Get 50% QuickBooks Online for a limited time!

          Take it for a spin with a free trial.

          Try QuickBooks Today

          We Recommend Fattmerchant 🏆

          Fattmerchant is one of our top picks for credit card processing!

           

           

          We love Fattmerchant's predictable pricing and excellent service.
          PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

          Get Started

          Get started with no commitment today.

          We Recommend Brex Corporate Card for Startups 🏆

          Brex Corporate Card for Startups is one of our top picks for business credit cards!

           

           

          For a limited time get 50,000 rewards points when you spend $1000 with Brex.

          Get Started

          Get started with no commitment today.

          We Recommend Fattmerchant 🏆

          Fattmerchant is one of our top picks for credit card processing!

           

           

          We love Fattmerchant's predictable pricing and excellent service.
          PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

          Get Started

          Get started with no commitment today.

          We Recommend Fattmerchant 🏆

          Fattmerchant is one of our top picks for credit card processing!

           

           

          We love Fattmerchant's predictable pricing and excellent service.
          PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

          Get Started

          Get started with no commitment today.

          ⭐️ Featured Promo! ⭐️

          Sign up now and qualify for a limited time deal!

          Standard Plan: One month free ($29.95 value)
          Plus Plan: Two months free ($159.90 value)
          Pro Plan: Three months free ($899.85 value)

          Learn More

          At BigCommerce

          We Recommend Fattmerchant 🏆

          Fattmerchant is one of our top picks for credit card processing!

           

           

          We love Fattmerchant's predictable pricing and excellent service.
          PROMO: Get your first month for just $5 and get your first $5,000 in processing for free. Valid until end of November.

          Get Started

          Get started with no commitment today.

          We Recommend Helcim 🏆

          Helcim is one of our top picks for payment processing!

           

           

          Helcim has exceptional service and an advanced platform that we highly recommend for businesses in Canada and the US. Get three months free when you sign up with Helcim through our links!

          Get Started

          Get started with no commitment today.

          We Recommend PaymentCloud 🏆

          PaymentCloud is one of our top picks for credit card processing!

           

           

          We love PaymentCloud's predictable pricing and excellent service.

          Get Started

          Get started with no commitment today.

          We Recommend OnDeck 🏆

          OnDeck is one of our top picks for Business Loans!

           

           

          OnDeck is our featured vendor for business loans and lines of credit. If you have at least one year in business, a personal credit score of 600 or higher, and $100K in annual revenue, OnDeck is ready to help your business get funded.

          Get Started

          Get started with no commitment today.

          Get 50% Off FreshBooks ✨

          FreshBooks accounting is offering 50% off of their accounting and invoicing software for three months and a 30-day free trial!

          Start For Free

          No credit card required

          We Recommend Lightspeed POS 🏆

          Lightspeed POS is one of our top picks for Point of Sale!

           

           

          We highly recommend Lightspeed POS for small businesses looking for a feature-rich, tablet-based point of sale system. PROMO: Save up to $1,000 when you sign up by November 30th.

          Get Started

          Get started with no commitment today.

          We Recommend Fundera 🏆

          Fundera is one of our top picks for SBA loans!

           

           

          Fundera is a free-to-use marketplace that allows you to compare lenders side-by-side. Easily find SBA 7(a)loans alongside other financing options.

          Get Started

          Get started with no commitment today.

          We Recommend ShippingEasy 🏆

          ShippingEasy is one of our top picks for shipping software!

           

           

          ShippingEasy got a 5-star review from our team. Get a 30-day free trial to access discounted USPS and UPS shipping rates and print labels in no time. No credit card required.

          Get Started

          Get started with no commitment today.

          We Recommend Square POS 🏆

          Square POS is one of our top picks for Point of Sale!

           

           

          Square is free to use and include a free card reader at sign up! No credit card required to create your account.👌

          Get Started

          Get started with no commitment today.


           

          Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

          Sign up for the Maverick Newsletter

          • We occasionally send out emails with special offers.