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Are Speakers Eligible for the PPP Loan?

** below is information sent to me from my amazing collegiate speakers bureau, CAMPUSPEAK. So special SHOUT OUT and thanks to them. Regardless of the type of audience you speak to - whether collegiate, professional, or a mix - speakers who are 1099 independent contractors ARE QUALIFIED for the PPP Loan (in concept) ... see below for a paraphrased version of the email:

"CAMPUSPEAK Speakers Team,

On April 1st we had a Team meeting and went over a lot of information. I care about you and feel strongly that CAMPUSPEAK has a responsibility to look out for each and every one of our Team members.

DISCLAIMER – I am not a CPA and CANNOT provide legal or tax advice. 


Speakers should be eligible for the PPP Program. It DOES include Independent Contractors (you). The short version of how it works. Take your last 12 months of 1099 income (INC) and divide it by 12 for a monthly average (AVE) which you would then multiple by 2.5. That is the amount you should be able to receive as a potentially forgivable loan. PPP = 2.5 (INC/12)

Am I eligible? If you have 1099 income in the last 12 months, YES! Having W2 income DOES NOT prevent you from PPP eligibility. YES – Side hustlers can apply.

What are the terms of the PPP loan? It is a 2-year term with no payment owed for the first 6 months. The interest rate is 1%.

What is a FORGIVABLE Loan? If you use the money for “Payroll Costs” you will have the opportunity to demonstrate that and have the loan turn into a grant which will not need to be paid back. Payroll costs are defined broadly to include wages, salaries, retirement contributions, healthcare benefits, covered leave, and other expenses. In the most simplest terms, you (a 1099 independent contractor) can get money to pay yourself that you won’t have to pay back if you use it for that purpose!

Can you get PPP AND unemployment benefits? It is my understanding that you CANNOT get both. And, that isn’t surprising it was originally intended to keep people OUT of the unemployment system.

What if you have already applied for Unemployment? Which is better? I DON’T KNOW. Really, don’t ask me for advice on this because I have no advice to give.


The PPP ran out of money. By the time they let independent contractors apply (4/10) the funds allocated by Congress were all used. To my knowledge they are still fighting over providing more funding to the program and banks are taking applications in preparation for that to happen. All signs point to the program being refunded so GET READY NOW!

A summary was sent to you on 4/1 after our meeting from CAMPUSPEAK of resources to help understand things better.  Here again, are helpful links to resources.  

We will continue to do our best to support you all."

*** Again, SHOUT OUT to CAMPUSPEAK. I've been speaking with them for almost 15 years!

I have a special section in my book, PAID to $PEAK, about how to speak to college students. Check it out! This is how I started speaking. (Make sure you order from "Passion Project" seller on Amazon and your book will be autographed by me personally.

To Your Speaking Success!


Other PAID to SPEAK blog posts ... 
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