Under Paycheck Protection Program 2.0, part of the stimulus package passed in December 2020, you need to show a 25% reduction of income for at least one quarter relative to the previous year.
This tool will help you. Follow these steps:
- Select which quarter you started your business
- Enter your quarterly income totals for 2019 and 2020
- Check the box under “Important” to verify you've entered everything correctly.
- Check out the results at the bottom.

Please seek a professional for advice related to your own business situation.
I am not a tax or financial professional nor am I affiliated with any government entity. I'm not even a programmer, so I can't completely guarantee the results.
There's nothing official about this. It's only a tool to help you get a picture of how your income relates to the qualifications of the PPP Second draw, as I understand them based on documentation from the SBA and other sources.
This is not meant to be professional or business advice in any way. It's just a tool.
If you're looking for a lender for the Paycheck Protection Program
I won't try to tell you whether or not to apply. That's a personal and business decision you have to make.
If you have a banking relationship for your business, you can certainly start with your bank. If you're not sure where to begin, we've partnered with Womply. Womply is not a lender. They're a verified agent with several SBA approved lenders. What they can do is connect you with a lender who can help you get your application processed.
This is a referral link. I may receive compensation that helps me keep this website operating. You can start your application process with Womply.
Paycheck Protection Program Articles
Articles published at EntreCourier.com about the Paycheck Protection Program, starting with the CARES Act early in 2020, and about the renewal of the PPP program with the latest stimulus package signed December 27, 2020.
How to Apply for Paycheck Protection Program (PPP) Grant as an Independent Contractor
The vast majority of independent contractors who apply for PPP funding are denied. Many of those are because of how they are applying. Good attention to detail and getting the right information are essential to being approved for the Paycheck Protection Program advance grants and loans. These ten steps can help improve your chances of approval