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TippiandStan
Level 1

PPP application through QB for Sole Proprietors

I see that QB has opened the applications for the PPP. Are they only offering it to those that use the payroll portion of quickbooks?  What about those that are Sole Proprietors and don't use the payroll qb but use your other service to charge cc's, inventory, taxes, etc, are we not eligible to fill out the application early?

4 Comments
Fiat Lux - ASIA
Level 15

PPP application through QB for Sole Proprietors

Additional reference

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

ZackE
QuickBooks Team

PPP application through QB for Sole Proprietors

Hey, TippiandStan. You've come to the right place. The Community is here to help.
 

The Paycheck Protection Program application feature in QuickBooks can be used if you use an Intuit payroll product. Currently, the Small Business Administration has stopped accepting applications for PPP loans because the loan volume has reached the $349 billion level authorized by the CARES Act. Intuit is closely monitoring the situation and will keep you updated if more funds are made available. You can keep an eye on this article for updates: What you need to know about the Paycheck Protection Program

If the SBA continues accepting applications, you can still apply outside of Intuit, through any existing 7(a) lender or any federally insured institution that's participating.
 

Feel welcome to reach out to me here if you have any questions. Enjoy the rest of your day!

kdw
Level 1

PPP application through QB for Sole Proprietors

Is Quickbooks still accepting applications for clients who use their payroll services as of today, Monday. The new infusion of funds was today.  The website makes it sound as though it ONLY applies to turbotax users who ALSO use quickbooks so you MUST use both.

MaulikH
QuickBooks Team

PPP application through QB for Sole Proprietors

Hey there, kdw.

 

Glad to have you in the QuickBooks Community. I can help with your questions. We're still accepting PPP applications. Once you have QuickBooks capital open you can use our guide to help apply. Start your application for a PPP loan within QuickBooks Capital.

 

I recommend following that link. You'll be able to learn how to start the application, what information will be imported and when to expect a response. I'm here as well to assist with any other questions you may have. Just reply below to contact me.

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