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kariuki
Level 1

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

 
5 Comments
Nick_M
QuickBooks Team

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

Hello, kariuki. 

 

Thank you for bringing this to the QuickBooks Community, at this time, our engineers are working day and night to update the application of the Paycheck Protection Program for all of our customers. This is a good question that I'll bring to their attention. In the meantime, I suggest checking out our Aid Assist tool, it helps Intuit customers understand and find the best loan program for them.

 

- Intuit Aid Assist. 

 

If there's anything else I can help you with in the meantime. Please, feel free to post it below. 

 

Thank you for your patience and have a happy Monday. 

 

Fiat Lux - ASIA
Level 15

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

@kariuki 

Explore other option. Applicants are required to list all owners who own 20% or more of the company on their application.

https:// veem.grsm.io/sba-ppp

 

kariuki
Level 1

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

I have explored other options and most of them are working with existing customers. Time is of the essence with PPP and having used QuickBooks for over 10 years, I was hoping I can at least get a chance to apply.


Intuit is only taking PPP applications where principal owner’s share is over 80% but the SBA requirement is a lot lower.

SSNOWP
Level 1

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

Same here, except we are a married couple with 50% ownership - this makes NO sense that we are unable to apply

Fiat Lux - ASIA
Level 15

I cannot apply for PPP using Intuit because I have 3 partners and each owns 33.33% & we do not individually meet the 80% rule. Is Intuit planning to open the door for us?

Applicants are required to list all owners who own 20% or more of the company on their application.

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