It's Just Wrong: Businesses Without Employees Qualify Too

Jun 19th, 2020

The Coronavirus impacted 86% of small business owners 81% of which are “non employer firms.” What’s Just Wrong is as these businesses struggle toward recovery, they don’t realize the US Government Relief Programs were designed to help them too.

The clock is ticking on this opportunity and on June 30th, the money disappears.

So before you write it off as not for you, do yourself a favor that takes 30 seconds:

Check your 2019 Schedule C Tax Return Form
Look at line 31 “Net Profit” and see if it has a positive number on it
If Positive - You May Be Eligible for PPP Relief

If the number is less than $100,000 divide it by 12 and multiply it by 2.5. Aside for some adjustments, it’s basically the amount of money you could be getting from the relief fund.

If the number is greater than $100,000, the amount of money you could be entitled to is $20,800.

If you follow the guidelines outlined under the relief program you won’t have to repay the amount you receive.

So if you fall into this category, we implore you to talk to your accountant or use one of the free online tools like Intuit’s AID Assist to calculate the amount you are entitled to and file an application. There’s $130 Billion dollars still available under this relief package, but only until the end of this month!

How Much Are You Entitled To?

Intuit AID Assist App

Applying For PPP via Online Provider

Applying For PPP via Local Bank

SBA Lender Finder

For more resources on rebuilding after coronavirus, dig into these articles:

Prior to co-founding Alignable, Eric Groves spent 10 years as a founding executive of Constant Contact leading their go to market efforts, and growing the business from start-up to a public company with 400,000 customers and $200MM in revenue. Groves authored The Constant Contact Guide to Email Marketing and is recognized as an expert on engagement marketing, email marketing, and local business. He has appeared on MSNBC’s Your Business and contributes to Small Business Trends, Fast Company and Yahoo Small Business. Eric holds a B.A. in economics from Grinnell College and an MBA from the University of Iowa.

86 Comments 39k Views

All Comments (86)

Comments (1-10)

from

Commented on Jun 21st, 2020

Thank you! This was the cleanest, most understandable explanation of PPP eligibility, and how to calculate it for our 2 person business, that we have seen.

from

Commented on Jun 21st, 2020

How about if you are an S Corp with no

employees?

Eric Groves from Alignable

Check out the PPP calculator from Intuit called AID Assist. Link above

from

Commented on Jun 21st, 2020

Hopefully Canada 🇨🇦 comes out with something like this too

from

Commented on Jun 23rd, 2020

Please help.

I went back into Real Estate and paid all my dues. Then COVID hit. I am 69 with underlining conditions. I was about to sign my first client then COVID. I had hired an assistant, but again due to COVID could not work. Can I get any benefits. I am now extemely hurt mentally and financially.

Can you help

Business from Financial District New York, NY

So sorry for your situation. If you did not earn any income, you wouldn't be eligible for PPP. There may be other programs that could help though that may be worth looking into.

from

Commented on Jun 21st, 2020

I had to close my art studio and I’ve been scrambling to restructure my business and catch up on makeups since the shut down. I’m sure I’m not the only one. I didn’t think I qualified for ppp because I have no employees. Thank you! I will look further into this... thanks again.

Business from Denver, CO

Your application need to be complete before the deadline, which is that last day of this month. Last week I applied with 3 lenders. Only one has reached out to help me get it submitted on time. I have withdrawn my application from the other two. I wish you the best!

from

Commented on Jun 21st, 2020

I'm interested in this....well at least to see if I qualify...please send me the application to apply.

Chad Feaster from MedWayOHS, Inc.

Payroll Protection Plan applications can be obtained from your bank. I recommend contacting them for additional details including qualification requirements.

from

Commented on Jun 21st, 2020

Curious if my business has had positive numbers other than for 2019, due to a bad traveler year for us and some major investments here in the property and business can you still claim based on previous years? We ended up joining online automatic booking at the end of December and saw our best (by x 3) January, February and March until Covid and all the cancellations out through October...

Thanks,

Brian