Deliberate Freelancer

CORRECTION: At the 10:18 minute mark, I misspoke and said you should take $56,000 and multiply it by 12. That should say DIVIDE by 12. My math is correct in the episode; I just misspoke. Sorry about that! In today’s episode I outline my experience with the U.S. Paycheck Protection Program—known as the PPP loan program—and encourage you to consider applying for a loan if you have been hurt financially by the pandemic. DISCLAIMER: I am not a lawyer, accountant/CPA, financial services adviser or any other financial expert related to the PPP program. I am solely providing you my experience with the program and offering some things for you to consider. You should doublecheck all information with an expert and do your own research. Sole proprietors are allowed to apply for a PPP loan at about a maximum of $20,000, depending on how much you earned in 2019. The process to have your entire loan forgiven is fairly straightforward if you are a sole proprietor. This effectively turns the PPP loan into a grant that you do