thread What is the protocol for Unemployment Benefits and PPP loan in Archived Discussions (Read Only)

How does this affect unemployment?

kellybedard8 — Mon, 27 Apr 2020 01:12:26 GMT

If I apply for ppp as a sole proprietor will that make me ineligible for unemployment insurance? I am a booth renter at a salon.

Re: How does this affect unemployment?

nika — Tue, 28 Apr 2020 19:10:29 GMT

Hi @kellybedard8!

Accepting a PPP loan could affect your eligibility for state-administered unemployment compensation or unemployment assistance programs. You can find more information here or contact our Capital team if you have more in depth questions around unemployment and PPP loans.

Re: How does this affect unemployment?

TinaB — Tue, 05 May 2020 03:34:19 GMT

Went to the link provided and still not sure how this might affect PUA. I am a sole proprietor and plan on using PPP to pay business expenses.

Can I take a ppp loan if I am already receiving unemployment benefits?

Adm1 — Thu, 07 May 2020 04:34:45 GMT

Can I take a PPP loan if I am already receiving unemployment benefits? Can I use the loan on other things related to business other than payroll and just pay it back? Thank you,

Re: Can I take a ppp loan if I am already receiving unemployment benefits?

kimberlysaudade — Wed, 06 May 2020 06:03:15 GMT

I would like to know why it says that it affects unemployment benefits. The way I understood it, is the amount we get is automatically forgiven if we don’t have employees.

Re: Can I take a ppp loan if I am already receiving unemployment benefits?

Inkeddoll83 — Wed, 06 May 2020 11:07:37 GMT

Same Question . would like any information

PPP Non Employer and Unemployment

Sdreed61 — Fri, 08 May 2020 04:03:32 GMT

I've applied for unemployment under the Cares Act for self employed. Today I was approved for a PPP Loan.

The details say, "This MAY affect unemployment eligibility ".

I need a lot more details before I accept the loan. This is a big piece to be left so vague.

Will it affect past weeks of eligibility and Unemployment claims or just as of the loan date?

Will it make me completely ineligible for the Cares covid 19 unemployment help?

I need these details. Anyone have an answer?

Re: PPP Non Employer and Unemployment

Worku2 — Fri, 08 May 2020 04:24:23 GMT

If I don't want that ppp

lon can I return it if it's not good for an eligibility of my unemployment benefits?

unemployement benefit & ppp loan

mokhtardziri — Wed, 13 May 2020 02:02:42 GMT

im collecting unemployement and i applied for ppp loan cause i needed it for my business, and if it is illegal to have both i want to cancel the ppp and return their money back , i dont want to loose the unemployement its worth it , can some one tells me if its okey to have both thanks in advance 🙏

Re: unemployement benefit & ppp loan

nika — Thu, 14 May 2020 14:17:17 GMT

Hello @mokhtardziri- Take a look at the answers on this thread for answers!

Re: unemployement benefit & ppp loan

TinaB — Fri, 15 May 2020 01:21:48 GMT

Nika S. The link provided just loops right back to this thread.

I don’t think we are going to get an answer because I am not sure the answer is out there.

Re: unemployement benefit & ppp loan

nika — Sat, 16 May 2020 13:09:00 GMT

@TinaB You can also reach out to our Capital team to get some specific answers to your question.

PPP loan and unemployment ??

Rose2020 — Tue, 19 May 2020 11:52:57 GMT

I’m a self employed Hairdresser. I was granted a PPP loan and took the lesser amount. I’m still waiting on unemployment .. Do I cancel the PPP LOAN ? Help.. Not sure what to do??????

Re: PPP loan and unemployment ??

ashc — Wed, 20 May 2020 13:58:32 GMT

Hi @Rose2020,

I moved your post to one of the existing threads where this question has been asked/answered.

If you do need to cancel your PPP loan- check out this thread for the form.

I am receiving unemployment. Can i still apply for PPP?

Lynntess — Fri, 22 May 2020 01:05:17 GMT

I am receiving unemployment. Can I still apply for PPP?

Re: I am receiving unemployment. Can i still apply for PPP?

Joe — Fri, 22 May 2020 12:11:26 GMT

Hi there, @Lynntess - thanks for reaching out to us here on the Seller Community! Welcome!

I've gone ahead and merged your post into an existing thread of Sellers who also had this same question regarding PPP Loans and Unemployment benefits. Take a look at this Best Answer here from Nika. It will point you to some next steps!

Let us know if anything else comes up.

What is the protocol for Unemployment Benefits and PPP loan

Swatkinslmt — Mon, 15 Jun 2020 20:24:23 GMT

Due to COVID19 I have been receiving unemployment benefits. I am self employed and was qualified and received a PPP loan. What are the regulations on this. Is there a way to claim the payroll as part of my weekly benefits or do I need to back out of my unemployment? My loan wasnt enough to cover what I would be making if I was working. I would like to be able to keep my unemployment until I go back to work. This is al really confusing.

I was told to apply for everything.

helloeveryone33 — Mon, 15 Jun 2020 20:34:02 GMT

So I applied for the PPP and a month later finally got unemployment. How is this navigated or is this a conflict? The PPP was no where near the amount I was supposedly supposed get based on algorithms.

What happens if I received a PPP loan and I have been collecting unemploymment??

Hilsenrath — Tue, 23 Jun 2020 20:41:12 GMT

I just read a post by Christina stating that we could not get both unemployment and the PPP loan. But, I have both of them. What does this mean for paying back either unemployment or my PPP loan??

Re: How does this affect unemployment?

taxidavidt — Sun, 25 Apr 2021 03:00:15 GMT

CAN YOU GET BOTH UNEMPLOYMENT AND PPP?

"You can take advantage of both unemployment benefits through the PUA and funding through the Paycheck Protection Program, but not at the same time. As the PPP’s name implies, the program was designed to keep workers employed. If you receive a PPP loan, you will need to report the money you receive from the PPP as income to your state’s unemployment agency. That will likely render you ineligible for unemployment. Once you spend your PPP, you could go back on unemployment if your business still isn’t open."

Here was the resource:

https://www.google.com/amp/s/helloskip.com/blog/can-you-get-the-ppp-and-unemployment/amp/