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I got approved for the PPP loan but since it was such small amount (4,500) I have applied for unemployment and it appears as if I will get approved. I haven't worked since March 1st so I need both. I am still having to cover my business rent...I dont want to get in trouble. What do I do now?
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Hey @galdam.
Accepting a PPP loan may affect your eligibility for state-administered unemployment compensation or unemployment assistance programs. You will need to check with your state unemployment office to determine if you may be affected. We are unable to provide additional information about eligibility for any unemployment programs. Sorry about that!
Seller Community & Super Seller Program Manager | Square, Inc.
Learn about the Super Seller program!
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Can I apply for PPP and also keep receiving unemployment (PUA) benefits
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In the SBA materials on their site, it said more guidance was coming, but that it could make you ineligible for benefits. Maybe you can claim the PPP loan, and stop the UI benefits and when the PPP loan money runs out, start your UI benefits again, if still needed.
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