QuickBooks created an easy way for small business owners, self-employed individuals, and other eligible applicants to apply for a Paycheck Protection Program (PPP) loan. The program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which allotted approximately $659 billion in forgivable loans to help you pay employees and cover certain operating expenses.
If you’re a Payroll customer or a QuickBooks Self-Employed customer who filed 2019 taxes with TurboTax Self-Employed, sign in to see if Paycheck Protection Program loan applications are available in your product. Availability may vary.
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If you’re a Payroll customer or a QuickBooks Self-Employed customer who filed 2019 taxes with TurboTax Self-Employed, the following steps will make it easy to get started. If one of these does not apply to you, you can still submit your application for a PPP loan to another approved SBA lender. First, you’ll need to gather your relevant business documents.
Your loan may be forgiven if you keep all your employees on the payroll for 8 weeks and spend your loan on qualifying expenses .
Relief programs are evolving regularly. For the most up-to-date information, visit SBA.gov.
If you’re a Payroll customer or a QuickBooks Self-Employed customer who filed 2019 taxes with TurboTax Self-Employed, QuickBooks Capital may be able to help you. If not, you’ll need to gather the following information to apply for Paycheck Protection Program loan:
To apply with a lender other than QuickBooks Capital, you may need 3 things:
If you filed your 2019 taxes with TurboTax Self-Employed and are a QuickBooks Self-Employed customer:
In general, small businesses with fewer than 500 employees are eligible to apply for a Paycheck Protection Program loan. You must have also been in business on or before February 15, 2020.