Do DoorDash drivers qualify for PPP?

in LeoFinance2 months ago


Yes. Nearly all independent contractors or 1099 workers likely qualify for a PPP loan. If you were driving for DoorDash on or before February 15, 2020, you most likely qualify for the PPP.

  • How do I get my 1099 from DoorDash?
    • Per DoorDash, “In the United States, all Dashers that earn $600 or more within a calendar year will receive a 1099-NEC via our partnerships with Stripe and”

NOTE: Make sure you have a copy of your Schedule C (IRS Form 1040). The lender processing your PPP application will need this to verify your 1099 income.

How do I know if I'm self-employed?
Being self-employed or a “non-employer” encompasses a wide range of people. Here are some guidelines to help you determine if you’d qualify for a PPP loan as a non-employer:

If you identify as one or more of these:

  • Freelancer
  • Gig worker
  • Independent contractor
  • Consultant
  • Sole proprietor or small business owner (with no employees)

If you have one or more sources of self-employed income:

  • 1099-NEC
  • 1099-K
  • Sale of goods or services
  • Business income

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Nice. I remember Meet Kevin promoting the PPP loans for gig workers but it didn't exactly apply to me.

I think gig workers can also apply for the EIDL grants. I think there is a loan and a grant. If you apply, you can get the grant but refuse the loan. I think you can only get it if you didn't get it the first time around.

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But what is the rate of these PPPs? 10%? more?

The thing about this SBA PPP loan is it can be forgiven.

If 60% of your loan to cover payroll costs for employees (this includes compensation for owners, partners, etc.). The remaining 40% should be used on other approved costs, such as rent, utilities, and operations costs, etc

So basically everyone going for it (or most of them) are already with the intention of not paying it back? if so... what a mega printing machine of depth... even worse than crypto scams. 😅