SBA Issues New Interim Rule – Temporary Changes Impacting Self-Employed and Partnership Access to PPP Loans

By Jennifer Eubanks | April 15, 2020 |

Summary of Keypoints New SBA interim rule: The SBA issued temporary changes clarifying PPP loan eligibility and calculation methods for self-employed individuals, sole proprietors filing Schedule C, and partnerships. Self-employed with no employees: PPP loan amounts are based on 2019 Schedule C net profit (line 31), capped at $100,000, averaged monthly, multiplied by 2.5, with…

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