Paycheck Protection Program Income Qualification Tool
This tool is designed to help independent contractors, especially those with gig economy apps like Doordash, Uber and Uber Eats, Lyft, Instacart, Grubhub, Postmates etc. to identify whether they qualify under the ‘loss of income' stipulations for second draw loans under the Paycheck Protection Program as updated in December 2020.
By using this tool, you verify that you understand and agree to the following: This is simply a tool intended to help you get an idea if you meet one qualification of the PPP program. The tool is based on my understanding of how the legislation sets out qualifications. You understand that there are no guarantees as to the accuracy and that results of this tool do not guarantee that you do or do not qualify for funding. You also understand that neither this website nor its author is related in any way to the SBA, IRS, Department of Treasury or any other government entity.
When did you start your business as an independent contractor? (Choose only 1)
Unfortunately, you do not qualify for the Paycheck Protection Program
The Paycheck Protection Program was designed for existing businesses who were hurt by the pandemic. Businesses need to demonstrate a loss of income compared to before the pandemic and thus would need to demonstrate income received prior to February 15, 2020.
Enter your gross income for 2019 by quarter
Your gross income is the total money received before any expenses or other costs
Enter your gross income by quarter for 2020
ImportantVerify that you have entered all of your information
Businesses Started in the first part of 2020
A business that started in the first part of 2020 but before February 15 may qualify for the latest round of PPP funding.
Businesses need to demonstrate a year over year reduction of income or a quarter of at least 25% compared to the previous year. For businesses that started early in 2020, they need to demonstrate that gross income for one or more of the 2nd, 3rd, or 4th quarters was at least 25% lower than the gross income for the first quarter.
Businesses Started in the second half of 2019
A business that started in either the third or fourth quarter of 2019 may qualify for a second draw of PPP Loans. At least one quarter of gross income in 2020 should be lower than either of the last two quarters of 2019.
Those in Business Prior to the Second Half of 2019
If your gross income in 2020 was at least 25% lower for any given quarter than the same quarter of 2019, you may qualify for a second draw from the Paycheck Protection Program. If you started your business in later 2019 or the earliest parts of 2020, there are variations on how this works.
You had greater earnings in the first quarter of 2020 than you did for the first quarter of 2019 which will not qualify you for PPP funding.
Second Quarter Results
You had greater earnings in the second quarter of 2020 than you did for the second quarter of 2019 which will not qualify you for PPP funding.
Third Quarter Results
You had greater earnings in the third quarter of 2020 than you did for the third quarter of 2019 which will not qualify you for PPP funding.
Fourth Quarter Results
You had greater earnings in the fourth quarter of 2020 than you did for the fourth quarter of 2019 will not qualify you for PPP funding.
Based on the information you entered, you do not appear to qualify as having a sufficient loss of income to qualify for the second draw of the Paycheck Protection Program
You need to have shown at least a 25% from one quarter in 2020 compared to the same quarter in 2020. None of the information you entered indicates such a loss.
Based on income amounts you entered, you may qualify for the second draw on the Paycheck Protection Program
The information you entered indicates that for at least one quarter in 2020, you earned less than in the corresponding quarter for 2019.