Has anybody been able to receive a ppp loan? I applied for one and after doing some research, I saw the exclusion list includes the adult entertainment industry. :mad:
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Has anybody been able to receive a ppp loan? I applied for one and after doing some research, I saw the exclusion list includes the adult entertainment industry. :mad:
That's so stupid, sw-ers are among the top of the ones who can immediately pay a loan, or at least, pay it in time. Duuuh :))))
I was just about to ask this question.
I think I might apply
It won't work. They have excluded those who do "prurient sex work" from being able to apply/receive funds. I tried to do this when my money tanked out so bad I couldn't even keep my lights on anymore..... They are very clear that the PPP money cannot be used for sex work. Which is complete bullshit.....
I didn’t proceed because even if I thought there was a good chance they would approve it, I didn’t want to be on the hook for immediately paying back a loan that most people will not payback, just because of my industry. The bank issuing it probably will ask clarification questions that in that context you have to answer.
Basically easy enough to get hard to ensure forgiveness, whole separate set of hoops to jump through
^if you know how to invest you can always flip the money.
Then pay it back if you don’t think you’ll apply for the grant.
Hell do like government/banks do with YOUR money.....take it, flip it, then give it back if they ask/if you have to.
That would be a good layer of privacy for a nosy landlord or basic employer but most likely the government who wants to find a way to get that money back will probably figure that out.
My point is if a person digs hard enough (if they have motive to dig hard) then it becomes easier to find what they’re looking for
If they want to, they can look up the entity that you get your income through and link it to sex work. Just like the name on the 1099 doesn't show exactly what you are doing, a very quick search exposes it.
While I was buying my house 3 years ago they took all of my docs, let it sit on their desk for a few weeks - told me everything was fine/approved and moving forward as necessary. Then 2 weeks before close they obviously had done their research (figured out what I did for work by using the names on my 1099's and bank deposits) and pulled every tactic in the book to get me to walk away from the contract I had on this house 30 days in. I didn't give up and they were STILL pulling shit 1 hour before I had to sign my closing docs with all of my cats in my car and all of my stuff in a Uhaul. They HAD to go through with giving me the mortgage because at that point they would have had their asses sued off by me, the sellers and 2 real estate agents.
They will ALWAYS find out - ESPECIALLY the GOVERNMENT!
A few people have said in the past on here that they created vanilla businesses (sole proprietorship or LLC) and are employees of their businesses. This is one of those things where I think it would benefit to have a side business even if it's incredibly small.
I got one, I don’t get a 1099 tho only claim cash and have a 1040 to prove I am an independent contractor, looks like it’s for sales. I have not yet applied for forgiveness cause they keep changing rules so I wanna make sure I get in on any of that and I’m about to sign papers for a second draw. I don’t cam tho only ever danced
This is why I push for your own LLC and separate billing/paper trail/bookkeeping software using a DBA which give you schedule c and 1040s, etc. You're 1 entity. They can't link you to adult work if you move in silence down to the billing and your company is a shell. Either way, I was told Only Fans was allowed? Either way, there are more ways to skin a cat.
My application was approved and given to a bank for review and approval. I'm surprised I got this far! Let's see if I get funded. Unfortunately, it's based off of my 2020 income and not my 2019 income, so the loan is for much less than I need. I don't understand why they couldn't base it off of my 2019 income. I'm only getting the loan because of covid, so the loan should be based off of my pre-covid income but, whatevs!
Speaking of ppp loans has anyone got a ppp and unemployment pua at same time? If so what state
I'm getting pua now. Can you not get both? I figured since one is a loan that you are supposed to payback, then it wouldn't be an issue. I'm looking it up and it sounds like it would be counted as income. That makes 0 sense. If I have to pay it back, then it's definitely NOT income
Your not gonna apply for forgiveness on the ppp? Apparently some states don’t allow it but it’s in there questions they ask if u got a ppp and most don’t care really if ur a schedule c filer it isn’t supposed to effect it at all even if u get forgiven, idk it’s not really clear that’s y I was asking, I don’t think it’s a problem cause the state would make that clear but who knows. Some say when u get it forgiven it means u used it for your paycheck so it would be a problem but when it’s forgiven it’s a business grant and it’s not taxable income in most states so it’s unclear
I was planning on applying for loan forgiveness, but that's the thing, it's a loan. Loans aren't income. So whether you get the loan forgiven or not, it's still called a loan. So I don't understand why you wouldn't be able to get both. This country is frustrating as fuck.
I don't recall seeing a question about a ppp loan when I applied for unemployment, or when I file my vouchers, but I guess I'll see on Sunday. This is annoying. The loan isn't that much though, so I'll probably just decline it if it gets accepted for funding. Ugh.
I watch jj the cpa on YouTube he makes it make more since but he’s from Oklahoma, I’m Illinois, he says u can get both if your a schedule c filer and unemployment doesn’t effect ppp but some states it will effect pua, so it’s not super clear to me cause I see people online saying u can’t get both it’s double dipping n pua could charge u w fraud for getting ppp wages n collecting unemployment so I was just seeing if anyone on here knew or had any experience w this, I don’t think u have to decline the loan especially if ur state doesn’t ask about it on unemployment.
I live in shitty ass Indiana. I just looked into it further and I can't get both at the same time. I literally just got the email this morning that my loan was approved lol wow. Fucking ridiculous. The loan amount is not enough to justify taking it over my unemployment. Even unemployment isn't a lot! I'm just gonna withdraw my application.
what exactly is a ppp loan? so much info it's so confusing
It’s a forgivable loan the government gave for businesses effected by loss of income from Covid it pays u and your employees regular salaries from 2019 or possibly 2020 not sure for 8 weeks, u have to apply for forgiveness as long as u used the funds right they will forgive it n I don’t pay it back.