Independent Contractors are eligible for PPP Loans

SBA.com® is a private website with access to a large marketplace of PPP lenders through our partner Lendio. Fill out our loan request form and our partner Lendio will help you with your application and submit it to a PPP lender that is actively funding PPP loans.

disclosure Important things to consider:

  • You do NOT have to use SBA.com® to obtain a PPP loan.
  • We pass your loan request to our partner Lendio who will try to connect you with a PPP lender in their network that is actively funding PPP loans.
  • SBA.com® only connects you to Lendio and is not your lender.
  • Once you start an application with Lendio, you will have to reach out to Lendio or the lender you are connected with about any questions on your application.
  • Neither SBA.com® nor Lendio can guarantee your application will be accepted or a lender will fund your loan.

SBA.com® is a private website with access to a large marketplace of PPP lenders through our partner Lendio. Fill out our loan request form and our partner Lendio will help you with your application and submit it to a PPP lender that is actively funding PPP loans.

disclosure Important things to consider:

  • You do NOT have to use SBA.com® to obtain a PPP loan.
  • We pass your loan request to our partner Lendio who will try to connect you with a PPP lender in their network that is actively funding PPP loans.
  • SBA.com® only connects you to Lendio and is not your lender.
  • Once you start an application with Lendio, you will have to reach out to Lendio or the lender you are connected with about any questions on your application.
  • Neither SBA.com® nor Lendio can guarantee your application will be accepted or a lender will fund your loan.

Additional Information for Paycheck Protection Plan Borrowers

Program Highlights:

  • Potential 100% Loan Forgiveness for 8 weeks of qualified loan uses.
  • Fixed Low Interest Rate at 1.00%
  • No Collateral Required
  • 2-Year Terms
PPP Usagess

Who can apply?

Independent contractors receiving 1099-MISC forms and self-employed individuals are eligible to apply for these potentially 100% forgivable loans beginning on April 10, 2020.

The requirements are straightforward. You must have been in operation on February 15, 2020, your business must have been harmed by the COVID-19 pandemic, and you must submit the required documentation along with your loan application.

Apply for PPP

You should use the proceeds from these loans on your:

  • Replacement for your normal 1099-MISC or net self-employment income (capped at $100,000 on an annualized basis for each employee);
  • Interest on mortgage obligations, incurred before February 15, 2020;
  • Rent, under lease agreements in force before February 15, 2020; and
  • Utilities, for which service began before February 15, 2020.
PPP Usagess

How large can my loan be?

The maximum loan size is up to 2.5 times your average monthly 1099-MISC or net self-employment income for the past 12 months. That amount is subject to a $10 million cap. If you are a seasonal or new business, you will use different applicable time periods for your calculation.

Learn more facts about PPP loans.

Payroll Costs