In Order to be eligible for the ppp an application must be a small business, Sole Prop righter, independent, self employed

Eligibility

The amount od the PPP is based on the applicant's payroll costs.

Loan Amount

An Application apples for a ppp loan direcrely with an eligible private lender such as a federally insured bank

Application Process

A federally credit union farm credit system institution, or a small business administration approved lender

You can borrow up to 2.5x monthly payroll with a @2 million limit.

Income Tax

Ordinarily, loan forgiveness is considered taxable income, but forgiveness of a ppp loan is a not considered taxable income

The government will forgive 100% of your ppp loan if you meet the requirement .

You are eligible if your business has then 299 employees and if you have a 25% dro in revenue last year.

PPP Loans for musicians 2022