SBA PPP Loan Program for Independent Contractors

update 4-16-20

When originally launched, the SBA Paycheck Protection Program (PPP) loans were targeted at employers of W-2 employees.

On Friday, April 17, a new PPP program will launch for sole-proprietorships and independent contractors.

As with the original PPP Loan program, these are facilitated through local banks. You will need to find a participating bank to accept your application. The SBA has a lender tool on their website.

Your federal income tax filings will be the primary documentation, specifically Schedule C (Form 1040), Profit or Loss from Business (Sole Proprietorship)