How to pay yourself with PPP loan as a self-employed or independent contractor

Do you know you can pay yourself with a PPP loan as a sole proprietor or independent contractor in 2021?

You can pay yourself in PPP funds by using what’s known as owner compensation share or proprietor expenses. This is to compensate you for a loss of revenue from your business.

You must use a protected time of at least 11 weeks to get the entire amount of owner compensation share.

Watch video by Clara CFO Group below:

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Womply drops update on PPP Loan applications

Wed May 19 , 2021
<div class="at-above-post addthis_tool" data-url="https://www.gistvic.com/news/pay-yourself-with-ppp-loan-self-employed-independent-contractor-2021/"></div>There is a new update from womply on the PPP applications. In a new email sent to users, Womply said they are still processing applications and submitting them to the SBA and have also included Capital Plus as part of lenders. “If we’ve requested info from you, please follow our […]<!-- AddThis Advanced Settings above via filter on get_the_excerpt --><!-- AddThis Advanced Settings below via filter on get_the_excerpt --><!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons above via filter on get_the_excerpt --><!-- AddThis Share Buttons below via filter on get_the_excerpt --><div class="at-below-post addthis_tool" data-url="https://www.gistvic.com/news/pay-yourself-with-ppp-loan-self-employed-independent-contractor-2021/"></div><!-- AddThis Share Buttons generic via filter on get_the_excerpt -->
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