This round of loans does have a “covered period” that can be extended between 8-24 weeks. Property damage (looting damage not covered by insurance).In addition to payroll, there are a few other expenses that can be used with the money from the PPP loan including:
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Learn how applying for the PPP through Womply works in this video: PPP Loan Application: How Lyft & Uber Drivers Can Apply (Step By Step)Īt least 60% of the loan must be spent on payroll costs for the loan to be forgiven.
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As long as the loan is used as directed, you can be granted full forgiveness so it’s very much like receiving free money. Rideshare drivers are among one of the many different careers that have the opportunity to access these loans. If you were part of the first group of people who received financial help, you can also be eligible to be a part of this second draw PPP loans. The deadline to complete an application and be eligible to accept funds has been extended to May 31st, 2021. With that date in mind lenders would have until June 30 to process those applications Womply put together an entire guide to help walk Uber, Lyft, DoorDash and other drivers through the process of determining eligibility and applying for a PPP loan. Luckily, the Paycheck Protection Program (PPP) was designed to help those business owners and independent contractors get back on their feet with funding to make up the gap in earnings, due to COVID. Womply and the PPP ProcessĬovid-19 has challenged millions of small business owners and independent contractors, affecting their income and livelihoods. Millions of small business owners have also applied for the forgivable loan through the Paycheck Protection Program (PPP) and Womply has been there to help get these loan applications ready for processing. Womply provides customers with everything from reputation management, CRM, marketing automation, financial tools, and more. The company was founded in 2011 and now serves over 500,000 small businesses. Womply is geared toward helping small businesses thrive in a digital world. Womply has helped simplify and streamline the process so that applying for your PPP loan takes very little time now. With round two of PPP loan applications in full swing, it’s good to hear that most drivers now qualify since your loan offer can now be based on total revenue for the year and not just your net income. Womply is a local commerce platform that is doing a great job at helping drivers and couriers apply for the Paycheck Protection Program.
There are so many companies and tools out there that are aimed at helping small business owners and contractors run operations more efficiently. But how do you apply and what is the process like? In this Womply review, RSG contributor Chonce Maddox-Rhea shares more about Womply, the PPP application process and answers your questions below. Think you don’t qualify for the Paycheck Protection Program (PPP)? Think again! RSG contributor-at-large Jay Cradeur qualified for over $25,000, and plenty of other drivers have reached out to us saying they qualified for thousands as well. You can read our initial review of Womply below, before the complaints started coming in. If you get contacted by someone on social media claiming to work with Womply, it is probably a scam.Īt this time we do not recommend signing up for Womply, and we recommend researching alternatives instead. Womply’s support has been so bad that many users are going to social media to vent their frustrations and they are now being targeted by scammers. Here are just a few examples of people having issues with Womply: Example 1 | Example 2 | Example 3 People have even reported being approved for loans and then not receiving funds. Many of our readers have complained about not being able to get a hold of Womply when they have questions or issues. We have heard numerous complaints about Womply from our audience and we have had a bad experience with Womply ourselves. At this time, we do not recommend Womply to our readers.
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