The Paycheck Protection Program

The Paycheck Protection Program, administered by the Small Business Administration, provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.  SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses.  Most of our clients who have already received PPP loans have qualified for 100% loan forgiveness. 

For more information about the program, CLICK HERE

On March 3, 2021 the SBA published new calculation rules for Schedule C filers, as result of President Biden’s announcement that the PPP program would undergo changes to open the PPP to more small businesses than before.  Where the calculation was previously based on NET Schedule C income, the new calculation is based on GROSS Schedule C income.  For many of our clients, this change means they now qualify for a PPP loan.

If you are interested in obtaining help from Wilson Toellner CPA to apply for a PPP loan, either as a first draw if you have not received any PPP funding, or as a second draw, please click the appropriate link below.