1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

U.S. SBA Loans?

Discussion in 'General Business' started by jrbiz, Apr 6, 2020.

  1. #1
    Is anybody in the U.S. chasing after the new SBA loans that can be totally forgiven if they are used for payroll? My understanding is that these loans can also be accessed by sole proprietorships and freelancers, too.
    SEMrush
    My accountant is looking into it, though I am not sure that my small online business will actually qualify for much, since the payroll is quite small and we run it to be mostly breakeven income-wise every year.

    Just wondering if anyone has had positive or negative experiences with the process and any tips about it?
     
    jrbiz, Apr 6, 2020 IP
    SEMrush
  2. JoeSpirit

    JoeSpirit Well-Known Member

    Messages:
    1,033
    Likes Received:
    380
    Best Answers:
    5
    Trophy Points:
    108
    #2
    I hadn't even thought about it myself mainly because I don't have a payroll.
     
    JoeSpirit, Apr 6, 2020 IP
    jrbiz likes this.
  3. jrbiz

    jrbiz Acclaimed Member

    Messages:
    5,578
    Likes Received:
    2,431
    Best Answers:
    2
    Trophy Points:
    570
    #3
    You don't need one, is my understanding. Sole proprietorships and freelance businesses can apply for up to 2.5 months in income (no matter how you pay it to yourself) and then have it all forgiven if you use it to continue to pay yourself. Worth having your accountant look into it.
     
    jrbiz, Apr 6, 2020 IP
    JoeSpirit likes this.
  4. JoeSpirit

    JoeSpirit Well-Known Member

    Messages:
    1,033
    Likes Received:
    380
    Best Answers:
    5
    Trophy Points:
    108
    #4
    I'll have to look into it.
     
    JoeSpirit, Apr 7, 2020 IP
    jrbiz likes this.