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    Senior RSG contributor-at-large Jay Cradeur is back with new information about how gig workers (Uber, Lyft drivers, DoorDash and Instacart couriers and more) can qualify and apply for the Paycheck Protection Program (PPP) loan through Womply. Many readers have received money, thanks to their Womply application, so we thought it would be helpful to walk you through the whole process. It’s simple and fast!

    You can get started on the PPP loan process using our Womply link here.

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    Quick summary:

    • Who can qualify for PPP funding? Many of the rules have changed – in drivers’ and couriers’ favor!
    • Womply has simplified the process for drivers (and other gig workers)
    • How much can you qualify for? It depends, but you might be surprised by exactly how much you qualify for now

    In this video, Jay Cradeur breaks down how you can apply for the Paycheck Protection Program (PPP) with Womply: PPP Loan Application: How Lyft and Uber Drivers Can Apply Step by Step

     

    Do I Qualify to Apply for a PPP Loan Using Womply?

    In general, yes, but here are the basic qualifications (note: gig workers fall under these qualifications):

    • Sole proprietor
    • gig workers
    • self-employed individuals
    • pretty much anyone who has 1099 income

    As long as you were in operation on or before February 15, 2020 and reported taxable earnings/income for 2019 or 2020, you can likely apply for PPP assistance.

    What about if you collected unemployment? According to Womply, “If you are self-employed or a 1099 then you likely cannot use your PPP funds to pay yourself and continue to collect unemployment—because the payment you make to yourself counts as income, which in most cases will disqualify you from continuing to receive unemployment.”.

    Basically, you can’t get a PPP loan and unemployment at the same time.

    Wondering how you can use your PPP loan money? Here’s what you can use your PPP loan on (note: most gig workers will use it on payroll!)

    • Payroll costs, including benefits;
    • Interest on mortgage obligations, incurred before February 15, 2020;
    • Rent, under lease agreements in force before February 15, 2020; and
    • Utilities, for which service began before February 15, 2020; and
    • Covered operations expenditures such as software, cloud computing, and other human resources and accounting needs; and
    • Covered property damage costs related to property damage due to public disturbances that occurred during 2020 that are not covered by insurance; and
    • Covered supplier costs

    PPP Loan Application: Step by Step Process for Applying Using Womply

    Step 1: Fill Out Basic Information for the Fast Lane Processing by Womply

    Previously, drivers and other gig workers wouldn’t qualify for as much. Now, your PPP loan is based on revenue – which means many drivers and gig workers will qualify for a bigger loan!

    PPP loans are not like other loans – it’s 100% forgivable as long as you use it for certain, specific needs. One of those needs? Payroll to pay yourself.

    To get started, first click this link to apply through Womply:

    You’ll fill out basic information at the beginning.

    You’ll also be a provided steps of what to expect, including what you’ll need to gather before applying for the loan. You will also need to connect your bank to Womply so they can deposit the loan!

    In Jay’s case, the only document he needed for step 5 (tax docs) was the 2019 tax return Schedule C.

    Step 2: Go Through a Series of Questions Related to Your Tax Documents

    In order to qualify for the PPP loan, you will need your tax documents. The information from your tax return will help determine how much you qualify for.

    This is where Womply has customized it for us (see below): you’ll choose what kind of gig worker you are here. If you drive for multiple platforms, choose the description that best describes the platform you drive for the most:

    Step 3: How Much Do You Qualify For?

    In Jay’s case, he actually qualified for two draws of the PPP loan:

    Again, if you use your PPP loan to pay yourself for payroll, you will have it forgiven.

    How long did it take Jay to fill out this application? About 30 minutes, because he needed to find his tax documents.

    After you’ve completed all the steps, you will receive this congratulations message:

    Make sure you get it – that means your application went through!

    You will also receive an email confirmation:

    Key Takeaways for Applying Through Womply

    The process is very simple – and there is significant money that drivers can get for payroll! Also, Womply makes it very easy for you to apply.

    In Jay’s case, he did hear from Womply, and they needed to confirm some more information, but again, the whole process was simple. He’s currently waiting to hear back about his application – we will update when he does!

    Ready to get started on your own PPP application? Get started using Womply here.

    Readers, have you taken a PPP loan? What questions do you have about the PPP loan process?


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    Get started as a gig worker today! Learn more:
    - Is driving for Doordash worth it?
    - Postmates Driver Pay
    - Instacart Shopper Pay
    - Uber Eats Driver Review
    - Best food delivery service to work for
    - Rideshare insurance

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    -Jay @ RSG

    Melissa Berry

    Melissa Berry

    Melissa is the Managing Editor and Chief of Staff for The Rideshare Guy. She has been featured in Inc. magazine, CoMotion News, and The Sacramento Bee, among other publications. Melissa focuses on breaking news, tech statistics, green technology, and politics + labor. Prior to joining The Rideshare Guy, she worked in Homeland Security and Emergency Management for local government.