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Level 2
posted May 29, 2021 7:40:16 AM

PPP and EIDL Employee requirements

If I have a partnership with 2 people and 1 person who we pay a management fee to, can I still apply for PPP or EIDL even though I dont have any employees or file a payroll?

 

I know 60% of funds need to be spent on employees, but would the income that is distributed to the 2 partners be considered employee expense for PPP or EIDL purposes?

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1 Replies
Level 15
May 29, 2021 8:19:21 AM

This is an income tax forum ... seek PPP info from the bank issuing the loan or the SBA.