Paycheck Protection Program (PPP) Application Process for Realtors®

Friday, April 10, 2020

Independent contractors and the self-employed we able to begin applying for the Paycheck Protection Program (PPP) loan. We held a 30-minute webinar to walk Realtors® through which boxes to check and how to properly calculate your numbers on the application.

  • 0:15 - Can you participate in PPP if you don't have a bank account or you're a new business?
  • 2:40 - How to fill out the PPP Application.
  • 3:40 - What type of business do you select?
  • 11:40 How to come up with average monthly payroll?
  • 19:20 Do you have to file 2019 taxes?
  • 22:35 - Purpose of the loan. What to check.
  • 24:08 - how to prove you are using funds for payroll?
  • 27:30 - Applicant Owner section
  • 33:00 Independent contractor part of team but no LLC
  • 35:26 Personal checking account but no business account.
  • 37:21 What address should I use?
  • 39:35 What if I earned more in 2018 than 2019? Use 2019.
  • 40:20 The questions you need to be prepared to answer.
  • 45:42 Certifications and Authorizations
  • 54:00 Am I allowed to pay health insurance?
  • 59:03 If you have not formed an LLC, all members of team need to file the form.

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