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Part 2: Let's Do This! Apply for the PPP

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Art Fairs

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Let's do this together - apply for the PPP

The CARES Act offers several programs to help small business people. The Payroll Protection Program (PPP) Loans are intended for small businesses to use to maintain payroll and cover other business expenses during the COVID crisis. All or part of the loan will be forgivable. These loans are available to sole proprietors and self-employed workers.

Helping us out is Elaine Grogan Luttrull, Minerva Financial Arts, an accredited CPA in Columbus, OH. Elaine is a financial counselor whose mission is educating artists in their businesses.

PPP Applications are made through a bank.  Applications opened on April 10 for independent contractors. These may be “first come, first serve” although it is possible that additional funds will be appropriated in other bills.

How to prepare to participate in the podcast:

  • go online to your bank to see if they are a participants. (Mine is and it is a small bank in southern Michigan, so chances are yours is also). 
  • download the application and have it ready to fill out so at the end yours will be ready to file
  • have your most recent completed tax forms nearby for reference

Here is the application: https://www.sba.gov/sites/default/files/2020-04/PPP%20Borrower%20Application%20Form.pdf

Learn more about the PPP: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-

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