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h. Do independent contractors count as employees for purposes of PPP loan calculations? PPP III. Temporary New Business Loan Program: Paycheck Protection Program
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PPP III. Temporary New Business Loan Program: Paycheck Protection Program
Effective Date: This rule is effective April 14, 2020.
h. Do independent contractors count as employees for purposes of PPP loan calculations?
No, independent contractors have the ability to apply for a PPP loan on their own so they do not count for purposes of a borrower's PPP loan calculation.
Reference Resource: SBA-2020-0015-0001
Comment Date: Comments must be received on or before May 15, 2020.
To submit your comment on this topic here: SBA-2020-0015-0001
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