PPP First Draw Biz2Credit Application Tutorial – Self Employed (Schedule C / 1099) – No Employees

Here is a step-by-step application tutorial on how to apply for a PPP with our banking partner, Biz2Credit. This tutorial is for First Draw PPP for those who are self-employed and have a Schedule C/1099. “First Draw” means that this is your first PPP application. If you already applied for PPP once before, and you are applying for the second time, then you need the Second Draw tutorial.

Before applying, it is best to first read PPP Guide for Self-Employed (Schedule C/1099) to get a better understanding of what PPP is all about. For other business types and for more information about PPP, visit our PPP Resource Center.

See more partner banks here.

<Written in collaboration with ChaiPlus1>

Three Steps

Step 1 – Find your Schedule C

As part of your application, you will need to reference your Schedule C.  This should be part of your tax return if you are self-employed/1099. We highlighted all the parts that you will need to complete your PPP application.

Step 2 – Apply!

Start your application with our banking partner, Biz2Credit.
When you apply using our dedicated link, we will be in a position to help you along the way if you get stuck with your application for whatever reason.

This is the landing page. Click the button ‘Get started now’.


‘Continue to PPP Application’


Since this is your First Draw application, select “No PPP Loan”.


Here’s where you check if you’re eligible. So click the button ‘Check Eligibility’.


Your answers should most likely look like this. (Assuming you were in business on Feb 15 2020, you were in operation all of 2019, you’re not a seasonal employer, you don’t have any employees, you’re not a DMO or publicly traded, and you want to use gross income to calculate your PPP).

Details:
  1. In order to be eligible for a PPP, you must have been in operation as of February 15, 2020. If the answer here is “no”, you are not eligible.
  2. If your business was not in operation between 02/15/2019 and 06/30/2019, follow the instructions.
  3. Select “no” if you are in operation for more than 7 months of each year, or if you earn mostly the same amount throughout the year.
  4. If you have employees, then you are using the wrong tutorial – you need the businesses with payroll tutorial
  5. The answer is most likely “no”.
  6. The answer is “no”.
  7. If you want to calculate your PPP based on line 7 (gross income) click the first option. If you file a Schedule F (farm), click the second option.

  • From the drop-down, select “2019 Full Year” if using your 2019 Schedule C, and “2020 Full Year” if using your 2020 Schedule C.
    • If you started operations after June 30, 2019 you also have the option of choosing Jan and Feb of 2020, but note that while you can base your PPP on Jan and Feb of 2020, forgiveness will ultimately depend on your filed 2020 Schedule C.
  • For “Gross Income Divided by 12”, look at Line 7 (or Line 31 if you chose to calculate based on net income) on your Schedule C. Divide that number by 12 (then round up to the nearest whole dollar amount.)
  • Check the box that you don’t have more than 500 employees.
  • And nope, you most likely don’t want to refinance an EIDL here. So click No.

You’re eligible for PPP, great! This number is your line 7 (or 31) divided by 12, then times 2.5 ($20,833.33 is the maximum – this is because it only considers your line 7 (or 31) up to a maximum of $100,000)


  • Business Legal Name is line C on your Schedule C (see sample above). If it’s blank, enter your own legal name.
  • If you don’t have a “business” phone number, simply enter your phone number
  • Business Address is the address listed on line E of your Schedule C (see sample above). If there is no address listed on your Schedule C, use your home address.

  1. Your NAICS code is a 6 digit code located on line B of your Schedule C. If this is a generic code like 999999 or one that does not come up when typed into the field, start typing the name of your profession, and you’ll be given a list of choices. Choose the one that fits best.
  2. If you receive a 1099 for your work, select “independent contractor”. If you do not receive a 1099, select “sole proprietorship”.
  3. If you’re unsure of when you first started working on your 1099/Schedule C, do your best to estimate.
  4. Check line D of your Schedule C (see sample above). If this line is blank, select the checkbox “My business doesn’t have an EIN”. If your Schedule C does have an EIN, enter it here.
  5. If you don’t have an EIN, check the checkbox.
  6. As self-employed the answer here is most likely “no”.

Remember, you’re the owner of your business. So this should be fairly simple.  If your “business” and “home” address are the same, then you can check “Use business address”.

  1. Leave unchecked
  2. If unsure, choose “owner”
  3. Your social security number
  4. If unsure, choose “Business Owner”  and leave business ownership at 100%

  • Purpose of Loan: Check the box ‘Payroll expenses’. If your Schedule C normally includes expenses (line 28), then you can choose other expenses as well (I don’t think it matters that much what you include in “Purpose of Loan”.
  • Read the other questions – the ones chosen above are the most common answers.

 If you answer yes to any of these questions, you are not eligible for PPP.

Submit Application 🙂

Now upload your required documents

Documents to upload: 
1) Schedule C (2019 or 2020 – whichever one you are using)
2) Bank Statement from February 2020
3) Front and back of license (or passport)
4) Voided check (blank check with the word “VOID” written across the check)
If you don’t have a blank check, then upload a letter from the bank with your account, and routing number is shown. 

Voila! You are all set!

Step 3 – After You Apply

  1. Biz2Credit will check your application and then submit it to the SBA
  2. Once your application is approved by the SBA (due to added checks and manual reviews, this part can take a few days) you should receive a DocuSign to sign your PPP application.
  3. You will also receive a notification to add your ACH details (upload your voided check).
  4. After submitting your signed application and ACH details, the underwriting team will do some more checks to see if they can approve your application (can take another few days).
  5. Once approved (hopefully!), you will receive a DocuSign from Itria Ventures – Biz2Credit’s bank, with your PPP offer.
  6. Within a few hours of accepting your offer, you’ll be funded!

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