Artists Can Apply for the Paycheck Protection Program

— As of April 15, funding for the Paycheck Protection Program has run out. Check the Small Business Administration website to find out the current status of this program.

 

The Paycheck Protection Program is for Individual Artists – including Musicians, Actors, Dancers, sole proprietors, independent contractors, self-employed individuals and other 1099 applicants in our Gig Economy.

The Payroll Protection Progam is potentially a FORGIVABLE Loan Progam based on your income, of up to 2.5 times your monthly income.

If you are an independent contractor who files taxes using 1099 forms, apply for the PPP using the same form that small businesses use and substitute your own income for the average monthly payroll – SBA Form 2483.

The application is only two pages, and then upload documentation. Here’s what you may need to upload depending your bank’s requirements. Contact your Bank or Credit Union before applying.

    • Most recent tax return for 2019 or 2018, or CPA-prepared financial statement
    • Business start date
    • Copy of photo ID
    • Monthly payroll report (Note: many payroll providers already have a report setting available for PPP loans, so please check with your provider)
    • Bank account and routing number
    • Small Business Administration (SBA) Form 2483
    • 2019 IRS Form 1099-MISC for independent contractors or Form 1040-C for sole proprietorships
    • (If applicable) Medical Insurance payment verification, documentation confirming retirement benefits and any Economic Injury Disaster Loan (EIDL) statement

Find the details and online application at sba.gov/funding-programs/loans.