How does this affect unemployment?

[kellybedard8]

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. 

[nika · Accepted solution]

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.

[TinaB]

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.

[Adm1]

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, 

[kimberlysaudade]

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.

[Inkeddoll83]

Same Question .  would like any information

[Sdreed61]

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?

[Worku2]

If I don't want that ppp

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

[Rose2020]

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??????

[ashc]

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. 

[Lynntess]

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

[Joe]

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.

[Swatkinslmt]

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.

[helloeveryone33]

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.    

[Hilsenrath]

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??

[mokhtardziri]

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 🙏

[nika]

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

[TinaB]

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.  

[nika]

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

[taxidavidt]

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/

[taxidavidt]

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/