This is a new-hire agreement that affords protection to the employer's proprietary information. It contains clauses dealing with noncompetition, non-solicitation, confidentiality, protection of intellectual property, and other miscellaneous sections.
New Hire Agreement With Ppp
Category:
State:
Multi-State
Control #:
US-TC0908
Format:
Word;
PDF;
Rich Text
Instant download
Description
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How to fill out New Hire Agreement?
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FAQ
You are welcome to hire your contractors as employees, but as they were not on your payroll records pre-COVID, you might not have much funds left over to pay your new employees. But the current forgiveness guidance does not prohibit hiring new employees.
Do independent contractors count as employees for purposes of PPP loan calculations? No, independent contractors have the ability to apply for a PPP loan on their own so they do not count for purposes of a borrower's PPP loan calculation.
If you are an independent contractor or self-employed, you may be eligible for Paycheck Protection Program (PPP) loans/grants, SBA's Economic Injury Disaster Loans (EIDL), and/or Unemployment Compensation for losses of income related to the coronavirus pandemic.
Can I pay them with my PPP loan? Independent contractors do not count as employees under the Paycheck Protection Program. You can still pay them with your loan, as they qualify as a legitimate expense, but that portion you spend on them will not qualify for loan forgiveness if it is used to pay independent contractors.
How to Complete Your PPP Loan ApplicationStep 1: Access your PPP Application.Step 2: Add or Confirm Existing Business Information.Step 3: Add New Requirements for Business Information.Step 4: Enter or Confirm Ownership.Step 5: Enter or Confirm Additional Owner Info.Step 6: Upload or Confirm Documents.More items...