SBA Updates Interim Paycheck Protection Program Rule for Self-Employed Individuals
Koprince Law – As the social isolation saying goes: “Another day; another clarification from the SBA regarding the Paycheck Protection Program.” Alright, maybe that saying hasn’t caught on, yet. Nevertheless, the SBA did publish additional guidance specific to sole proprietors and general partners applying to the Paycheck Protection Program (PPP). The SBA’s new Rule clarifies that self-employed individuals who file Form 1040 with a Schedule C would be eligible for PPP loans, provided the business satisfies the eligibility requirements.
