Should Lyft & Uber Drivers Apply For The PPP Loan Round 2?

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With the passing of the 2nd stimulus package, the SBA has received additional funding to put towards the Payment protection program loan. With that being the case, the next question many people are asking is Should Lyft & Uber Drivers Apply For The PPP Loan Round 2? In this video, RSG contributor Elijah Bilel will be doing a Q & A with Max Maher who is a serial entrepreneur who has been making content on the PPP loan for a while and can provide some insights and answers for gig workers who may be considering applying. This video on Uber Unemployment and the PPP loan has been produced by The Rideshare Guy.

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27 thoughts on “Should Lyft & Uber Drivers Apply For The PPP Loan Round 2?”

  1. They talk about the PPP loan for using it on your tax deduction. What about the EIDL loan for tax deductions. Is it the same process for tax time? Also my 1090 schedule C, line 31 shows a negative number. Does that mean I can't apply for the PPP loan?

  2. I want to know, if you got an EIDL loan back in June 2020, do you qualify for another loan? At that time, I received the 1000 grant and an 18000 loan, however, I would like to get additional funding. I don't want PPP loan.

  3. I have a question. I am filling out the PPP application. When it comes to proof of income to determine the loan amount it says to look at IRS 1040 line 31. I have two of those (uber and lyft) and they both come out with a negative number. This is due to the miles written off as expenses. So my loan is showing a negative number (or no money to give out). What am i missing here? Thank you!

  4. Harry leads the Oack 4 hiving us timely and helpful info to help us make better decisions! Thx Harry and team!

  5. Honest and trustworthy I never had issues ever since I started dealing with crusehack on !!g he’s the best

  6. Well the forgiveness amount is what shows on your schedule C line 31 wich that amount is ÷by 12 and ×8 is what's the actual forgiveness amount against the loan so it might be a quarter of the loan you receive!?

  7. I finally found a bank to accept my application with that being said I probably won’t receive my funds for the first round till beginning of March. Am I still eligible to apply for 2nd round?

  8. I am an Uber driver and I do some onside work getting 1099 for them as well, but not consistent. am I still eligible? or I have to just an Uber driver?

  9. Can I do the ppp loan if I started ubering in December of 2020? I didn’t file that month of me ubering with my 2021 taxes because I hadn’t made much, like 40-50 dollars.

  10. So we need to have been working gig work in 2020? I didn’t start until Jan 2021. So I’m disqualified?

  11. If you claim driven miles and you are eligible to receive. Money back from the government. Can you still apply for a PPP loan?

  12. Got first ppp funds on april 4 2021. Can I apply and get second ppp funds BEFORE I used up first ppp? Whole point is get forgiveness for both

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