{"id":24849,"date":"2023-11-28T17:23:51","date_gmt":"2023-11-28T17:23:51","guid":{"rendered":"https:\/\/swoopfunding.com\/us\/?page_id=24849"},"modified":"2026-02-28T10:29:57","modified_gmt":"2026-02-28T10:29:57","slug":"employee-retention-credit-vs-ppp-loans","status":"publish","type":"page","link":"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/erc-vs-ppp-can-i-qualify\/","title":{"rendered":"Employee Retention Credit vs PPP Loans"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"24849\" class=\"elementor elementor-24849\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f8e235a e-flex e-con-boxed e-con e-parent\" data-id=\"f8e235a\" data-element_type=\"container\" data-e-type=\"container\" id=\"hero-title\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-0351225 e-con-full e-flex e-con e-child\" data-id=\"0351225\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6903772 elementor-widget elementor-widget-heading\" data-id=\"6903772\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Employee Retention Credit vs PPP Loans \u2013 Can you qualify for both?<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-96553e6 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"96553e6\" data-element_type=\"section\" data-e-type=\"section\" id=\"product-page\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8042953\" data-id=\"8042953\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-acb1f17 uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"acb1f17\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"styck-table-of-contents\" data-settings=\"{&quot;scroll_offset&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;115&quot;,&quot;sizes&quot;:[]},&quot;sticky&quot;:&quot;top&quot;,&quot;sticky_on&quot;:[&quot;desktop&quot;],&quot;sticky_offset&quot;:&quot;130&quot;,&quot;sticky_parent&quot;:&quot;yes&quot;,&quot;scroll_offset_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;scroll_offset_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;sticky_effects_offset&quot;:0,&quot;sticky_anchor_link_offset&quot;:0}\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"uael-toc-main-wrapper\" data-headings=\"h2,h3,h4\" >\n\t\t\t<div class=\"uael-toc-wrapper\">\n\t\t\t\t<div class=\"uael-toc-header\">\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" ><\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"500\" data-scroll-offset=\"115\" ><\/ul>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"uael-toc-empty-note\">\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-4c72103 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4c72103\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-0a606f7\" data-id=\"0a606f7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3122f96 elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"3122f96\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"left\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71d36e6 elementor-widget elementor-widget-ucaddon_last_updated\" data-id=\"71d36e6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_last_updated.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n<div id=\"last-updated-container\" class=\"\">\n\n <script id=\"last-updated-schema\" type=\"application\/ld+json\">\n        {\n          \"@context\": \"https:\/\/schema.org\",\n          \"@type\": \"Article\",\n          \"headline\": \"Employee Retention Credit vs PPP Loans\",\n          \n          \"datePublished\": \"2023-11-28T17:23:51+00:00\",\n          \"dateModified\": \"2026-02-28T10:29:57+00:00\",\n          \"author\": [{\n              \"@type\": \"Person\",\n              \"name\": \"Michael David\",\n              \"url\": \"https:\/\/swoopfunding.com\/us\/author\/michael-david\/\"\n            }]\n        }\n    <\/script>\n \n <div class=\"last-updated view-user\" style=\"justify-content: left;\">\n \n <div class=\"info-left\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/michael-david\/\" aria-label=\"Michael David\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp?is-pending-load=1\" alt=\"Michael David\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"info-right\">\n <p>Page written by <a href=\"https:\/\/swoopfunding.com\/us\/author\/michael-david\/\">Michael David<\/a>. <span>Last reviewed on February 28, 2026<\/span>. <span>Next review due October 1, 2027.\n <\/span>\n <\/p>\n\n <\/div>\n\n <\/div>\n<\/div>\n\n<div id=\"externalTooltipContent\" style=\"display: none;\">\n <div class=\"top-info\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <div class=\"text\">\n <div class=\"name-author\">Michael David<\/div>\n <div class=\"role-user\">Expert financial copywriter<\/div>\n <\/div>\n <\/div>\n <div class=\"description\">Michael David is a financial writer and former investment advisor. Writing for Capital Group, Dimensional Fund Advisors, Franklin Templeton Investments, HSBC, Invesco, PIMCO, Vanguard, global insurance companies, major banks and others, he has educated professionals, business owners and consumers about strategies for investing, insurance, banking and corporate finance for more than 20 years.<\/div>\n<\/div>\n\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bc5ea57 elementor-widget elementor-widget-ucaddon_aivoov_player\" data-id=\"bc5ea57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_aivoov_player.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t<div class=\"aivoov-player-block\">\n\t<div class=\"read_this\">Read this article to me<\/div>\n\t\t\t<style>\n\t\t\t.plyr__controls .plyr__controls__item:first-child{\n\t\t\t\tbackground:#2e9c8e !important;\n\t\t\t}\n\t\t\t:root{\n\t\t\t--plyr-color-main:#2e9c8e;\n\t\t\t--plyr-audio-controls-background:#f0f2f4;\n\t\t\t--plyr-audio-control-color:#546a7b;\n\t\t\t}\n\t\t\t[data-plyr=\"mute\"]{color:#2e9c8e !important}\n\t\t\t.aivoov-text-color{color:#546a7b}\n\t\t<\/style> \n\t\t<div class=\"audio_player\">\n\t\t<audio class=\"js-player\" controls=\"\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/643ecda7-b50b-41dd-87da-0370954f5da8.mp3\" type=\"audio\/mp3\">\n\t\t\t<source src=\"https:\/\/monky-voice-over.s3.amazonaws.com\/aivoov\/781640cc-7bc1-4bbf-9492-22dedc19678b\/643ecda7-b50b-41dd-87da-0370954f5da8.mp3\" type=\"audio\/ogg\" \/>\n\t\t<\/audio> \n\t\t\t\t <div class=\"powerd_by aivoov-text-color\"><p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/aivoov.com\/?um_source=plugin_powered_by\" style=\"color: inherit;\">Powered by AiVOOV<\/a><\/p><\/div>\n\t\t \n\t\t<\/div>\n\t\t<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4c0b6c6 elementor-widget elementor-widget-text-editor\" data-id=\"4c0b6c6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>The Paycheck Protection Program provided loans to small businesses during COVID-19 that could be applied to things like payroll, rent, and utilities. The best part? The loans are forgivable in many cases. Here\u2019s the deal.<\/strong><\/p><p><span style=\"font-weight: 400;\">When the Employee Retention Credit (ERC) and Paycheck Protection Programs (PPP) were initially introduced, businesses were generally not allowed to claim both the ERC and PPP loans for the same wages.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Today, businesses that received a PPP loan can potentially use both the ERC and PPP, but not for the same wages. Specifically, if wages were used to obtain forgiveness of a PPP loan, those same wages could not be used for the ERC.<\/span><\/p><p><span style=\"font-weight: 400;\">Employers must carefully analyze which wages are being used for PPP loan forgiveness and which may be eligible for the ERC. This may involve strategic planning to maximize the benefits of both programs.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3022ac1 uael-heading-align-left elementor-widget elementor-widget-uael-table-of-contents\" data-id=\"3022ac1\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"table-of-content-column\" data-settings=\"{&quot;heading_text_align&quot;:&quot;left&quot;,&quot;heading_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;heading_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;separator_bottom_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:15,&quot;sizes&quot;:[]},&quot;content_between_space_laptop&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;content_between_space_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"uael-table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"uael-toc-main-wrapper\" data-headings=\"h2,h3,h4\" >\n\t\t\t<div class=\"uael-toc-wrapper\">\n\t\t\t\t<div class=\"uael-toc-header\">\n\t\t\t\t\t<span class=\"uael-toc-heading elementor-inline-editing\" data-elementor-setting-key=\"heading_title\" data-elementor-inline-editing-toolbar=\"basic\" ><\/span>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"uael-toc-toggle-content\">\n\t\t\t\t\t<div class=\"uael-toc-content-wrapper\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t<ul data-toc-headings=\"headings\" class=\"uael-toc-list uael-toc-list-none\" data-scroll=\"\" ><\/ul>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"uael-toc-empty-note\">\n\t\t\t\t\t<span>Add a header to begin generating the table of contents<\/span>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ca754f question elementor-widget elementor-widget-heading\" data-id=\"6ca754f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is the Paycheck Protection Program?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f749c93 answer elementor-widget elementor-widget-text-editor\" data-id=\"f749c93\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><a href=\"https:\/\/en.wikipedia.org\/wiki\/Paycheck_Protection_Program\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">The Paycheck Protection Program (PPP)<\/span><\/a><span style=\"font-weight: 400;\"> is a U.S. government initiative that was created to provide financial assistance to small businesses during the economic challenges brought about by the COVID-19 pandemic. The PPP was part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law in March 2020. It has since been extended and modified through subsequent legislative acts.<\/span><\/p><p><span style=\"font-weight: 400;\">The primary goal of the PPP is to help small businesses keep their workforce employed during the economic uncertainty caused by the pandemic. It provides funds to cover payroll costs and other essential operating expenses.<\/span><\/p><p><span style=\"font-weight: 400;\">PPP loans are designed to be forgivable if the funds are used for eligible expenses, which primarily includes payroll costs, rent, utilities, and mortgage interest. To qualify for full loan forgiveness, businesses must use at least 60% of the loan amount for payroll costs.<\/span><\/p><p><span style=\"font-weight: 400;\">Eligible borrowers include small businesses, nonprofits, sole proprietors, independent contractors, and certain self-employed individuals. The maximum loan amount is generally based on a multiple of the\u00a0 borrower&#8217;s average monthly payroll costs with a cap of $10 million for an individual borrower.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2814d0a question elementor-widget elementor-widget-heading\" data-id=\"2814d0a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is Employee Retention Credit?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-05a25c3 answer elementor-widget elementor-widget-text-editor\" data-id=\"05a25c3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/\"><span style=\"font-weight: 400;\">Employee Retention Credit (ERC)<\/span><\/a><span style=\"font-weight: 400;\"> is also sometimes referred to as the Employee Retention Tax Credit or ERTC. It is a refundable tax credit for businesses and tax-exempt organizations that had employees during the COVID-19 pandemic.<\/span><\/p><p><span style=\"font-weight: 400;\">The goal of the ERC is to help employers who experienced either a suspension of operations due to a government order or a significant decline in gross receipts in 2020 or the first three quarters of 2021. There&#8217;s also a provision for companies that meet the specific criteria for a recovery startup business.<\/span><\/p><p><span style=\"font-weight: 400;\">To claim the ERC, eligible employers can file an amended employment tax return.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ca8001c question elementor-widget elementor-widget-heading\" data-id=\"ca8001c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Key differences between PPP and ERC<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8f018c answer elementor-widget elementor-widget-text-editor\" data-id=\"a8f018c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The Paycheck Protection Program (PPP) and the Employee Retention Credit (ERC) were both created to support businesses during the economic challenges of the pandemic, but they have several key differences:<\/span><b><\/b><\/p><ul><li aria-level=\"1\"><b>Purpose.<\/b><span style=\"font-weight: 400;\"> The primary purpose of the PPP is to provide forgivable loans to businesses, with an emphasis on maintaining payroll and keeping employees on the payroll. The ERC, on the other hand, is a tax credit designed to encourage businesses to retain employees by providing a credit against payroll taxes. It is not a loan, and businesses can receive a credit for qualified wages paid to eligible employees.<\/span><\/li><li aria-level=\"1\"><b>Financial assistance. <\/b><span style=\"font-weight: 400;\">The PPP<\/span> <span style=\"font-weight: 400;\">provides forgivable loans that, if used for eligible expenses, may be fully forgiven. The forgiveness is contingent on meeting certain criteria, primarily related to maintaining employee headcount and salary levels. In contrast, the ERC offers a tax credit against payroll taxes for qualified wages paid to eligible employees. The credit is not dependent on loan forgiveness and does not require repayment.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Eligibility.<\/b><span style=\"font-weight: 400;\"> PPP eligibility is based on factors such as the size of the business, type of business, and meeting certain employee retention criteria. ERC eligibility is determined by criteria such as a significant decline in gross receipts or a government-mandated suspension of operations.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Use of funds. <\/b><span style=\"font-weight: 400;\">With the PPP, funds can be used for eligible expenses, with a focus on payroll costs. <\/span><a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/covid-19-relief-options\/paycheck-protection-program\/ppp-loan-forgiveness\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">At least 60% of the loan must be used for payroll costs to qualify for full loan forgiveness.<\/span><\/a><span style=\"font-weight: 400;\"> The ERC is based on qualified wages, which include wages paid during periods of significant decline in gross receipts or government-mandated suspension. Health plan expenses may also be included.<\/span><\/li><\/ul><h3><b>Funding types<\/b><\/h3><p><span style=\"font-weight: 400;\">The Paycheck Protection Program (PPP) primarily offered two types of funding, commonly referred to as the &#8220;First Draw&#8221; and &#8220;Second Draw&#8221; loans. Here is how they worked:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/covid-19-relief-options\/paycheck-protection-program\/first-draw-ppp-loan\" target=\"_blank\" rel=\"noopener\"><b>First Draw PPP Loans<\/b><\/a><b>. <\/b><span style=\"font-weight: 400;\">The loan amount for First Draw PPP loans was generally calculated based on 2.5 times the average monthly payroll costs, up to a maximum loan amount. The maximum loan amount for an individual borrower was capped at $10 million. The funds from First Draw PPP loans could be used for eligible expenses, with at least 60% of the loan amount required to be used for payroll costs to qualify for full loan forgiveness.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/covid-19-relief-options\/paycheck-protection-program\/second-draw-ppp-loan#:~:text=A%20borrower%20is%20generally%20eligible,more%20than%20300%20employees%2C%20and\" target=\"_blank\" rel=\"noopener\"><b>Second Draw PPP Loans<\/b><\/a><b>.<\/b><span style=\"font-weight: 400;\"> The Second Draw PPP loans were introduced to provide additional support to businesses that had already received a First Draw PPP loan. Eligibility included having 300 or fewer employees, experiencing a 25% or more reduction in gross receipts in a specific quarter of 2020 compared to the same quarter in 2019, and having spent or plans to spend the full amount of the First Draw PPP loan. The loan amount for Second Draw PPP loans was generally calculated based on 2.5 times the average monthly payroll costs to a maximum of $2 million. Similar to the First Draw PPP loans, at least 60% of the Second Draw PPP loan funds were required to be used for payroll costs to qualify for full loan forgiveness.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">Both First Draw and Second Draw PPP loans had the potential for full loan forgiveness if the funds were used for eligible expenses and met certain criteria.<\/span><\/p><h3><b>Funding time<\/b><\/h3><p><span style=\"font-weight: 400;\">The time it takes to receive funding through the Paycheck Protection Program (PPP) can vary based on several factors, including the lender&#8217;s processing speed, the completeness of the application, and the demand for PPP funds at the time of application.<\/span><\/p><h3><b>Cost of loans<\/b><\/h3><p><span style=\"font-weight: 400;\">PPP loans have a low-interest rate, <\/span><a href=\"https:\/\/www.sba.gov\/funding-programs\/loans\/covid-19-relief-options\/paycheck-protection-program\/first-draw-ppp-loan\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">generally set at 1%.<\/span><\/a><span style=\"font-weight: 400;\"> This low rate was designed to make the loans more accessible and affordable for businesses. However, one of the key features of PPP is the potential for loan forgiveness. If you use the funds for eligible expenses and meet certain criteria, the loan may be fully forgiven, effectively turning it into a <a href=\"https:\/\/swoopfunding.com\/us\/business-grants\/\">no-cost grant<\/a>.<\/span><\/p><h3><b>Eligibility criteria<\/b><\/h3><p><span style=\"font-weight: 400;\">First Draw and Second Draw PPP loans each had their own eligibility criteria as follows:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>First Draw PPP Loan eligibility.<\/b><span style=\"font-weight: 400;\"> Businesses must meet the definition of a small business concern as defined by the Small Business Act. Generally, this means 500 or fewer employees. Eligible entities include small businesses, sole proprietors, independent contractors, self-employed individuals, nonprofits, <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/business-loans-for-veterans\/\">veterans&#8217; organizations<\/a>, tribal concerns, housing cooperatives, certain 501(c)(6) organizations, and small agricultural cooperatives. Businesses had to be in operation on February 15, 2020, had employees for whom they paid salaries and payroll taxes or paid independent contractors, and had to certify that they were under financial strain due to COVID-19.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Second Draw PPP Loan eligibility.<\/b> Businesses must have previously received a First Draw PPP Loan and have used or will use the full amount for authorized uses. Businesses must demonstrate at least a 25% reduction in gross receipts in a 2020 quarter compared to the same quarter in 2019.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f595f10 question elementor-widget elementor-widget-heading\" data-id=\"f595f10\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Can you Get Employee Retention Credit and PPP?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c8bb00b answer elementor-widget elementor-widget-text-editor\" data-id=\"c8bb00b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Yes, it may be possible to claim both as long as you do not count the same wages twice. In other words, you could not use the same wages to count as \u201cqualifying wages\u201d to receive both a refundable tax credit through the ERC, and also for loan forgiveness through the PPP.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13fb0e8 question elementor-widget elementor-widget-heading\" data-id=\"13fb0e8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Application process for PPP and ERC<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d53158 answer elementor-widget elementor-widget-text-editor\" data-id=\"6d53158\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Here are the general steps to apply for a PPP loan:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Contact a lender. <\/b><span style=\"font-weight: 400;\">PPP loans were administered through participating lenders, including banks, credit unions, and online lenders.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Gather documentation.<\/b><span style=\"font-weight: 400;\"> Payroll records, tax forms, and other financial documents are needed to support your eligibility and loan amount calculations.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Complete the application. <\/b><span style=\"font-weight: 400;\">The application form will vary by lender, but it generally includes information about the business, its ownership, payroll costs, and other relevant details.<\/span><\/li><\/ul><p><span style=\"font-weight: 400;\">The lender is responsible for reviewing the application and determining loan approval. After using the funds for eligible expenses, it is possible to apply for loan forgiveness. The forgiveness application typically requires documentation showing how the funds were spent during the covered period.<\/span><\/p><p><span style=\"font-weight: 400;\">Now here&#8217;s a general overview of the ERC application process:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Determine eligibility. <\/b><span style=\"font-weight: 400;\">Eligibility is based on factors such as a significant decline in gross receipts or a full or partial suspension of business operations due to government orders.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Calculate qualified wages.<\/b><span> The calculation depends on the size of the employer and the amount and period in which the wages were paid.<\/span><\/li><\/ul><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Collect documentation.<\/b><span style=\"font-weight: 400;\"> This may include payroll records, financial statements, government orders that led to a suspension of operations, and other relevant documentation.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>File IRS forms. <\/b><span>Report the qualified wages, calculate the credit, and offset the credit against the employer&#8217;s share of Social Security taxes. Any excess credit can be claimed as a refund. If you did not do this while the program was active using Form 941, you may be able to do it retroactively using Form 941-X.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2d51d4 question elementor-widget elementor-widget-heading\" data-id=\"e2d51d4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to maximize the benefits of both PPP and ERC for your business<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-824e713 answer elementor-widget elementor-widget-text-editor\" data-id=\"824e713\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Wages used for PPP loan forgiveness are generally not eligible for the ERC, so it\u2019s important to determine the best way to allocate wages to each program in order to maximize the benefits. Here are some tips:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Run the numbers. <\/b><span style=\"font-weight: 400;\">Assess the financial impact of utilizing both programs. Estimate the expected ERC available and the potential for loan forgiveness under PPP.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Use PPP for non-payroll expenses. <\/b><span style=\"font-weight: 400;\">PPP funds can be used for a broader range of expenses, including rent, utilities, and mortgage interest. Consider using the PPP for these non-payroll expenses and allocating more of your wages to the ERC.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Optimize employee retention.<\/b><span style=\"font-weight: 400;\"> Strive to meet the criteria for full PPP loan forgiveness and maximize the ERC benefits by retaining employees. You could explore employee retention strategies, such as offering bonuses or other benefits, as long as they are within the guidelines of both programs.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><b>Consult with advisors as needed. <\/b><span>Seek advice from financial and tax advisors who can provide guidance based on the specific circumstances of your business. Professionals with expertise in tax law and small business assistance can help navigate complex rules.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-800fe8b question elementor-widget elementor-widget-heading\" data-id=\"800fe8b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How Swoop can help<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-55e399b answer elementor-widget elementor-widget-text-editor\" data-id=\"55e399b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">If you are looking for sources of funding for your small business, look no further. Swoop will scan the market for the best business financing options and deliver them to you in minutes<\/span><span style=\"font-weight: 400;\">. <\/span><a href=\"https:\/\/us.swoopfunding.ca\/stage\/\" target=\"_blank\" rel=\"noopener\">Check your financing options now<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-20d276d elementor-widget elementor-widget-spacer\" data-id=\"20d276d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c5ea520 elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"c5ea520\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/us\/author\/michael-david\/\" aria-label=\"Michael David\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/michael-david.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/us\/author\/michael-david\/\">Michael David<\/a><\/h3>\n <\/div>\n <\/div>\n \n \n <\/div>\n <div class=\"info-bottom\">\n <p>Michael David is a financial writer and former investment advisor. Writing for Capital Group, Dimensional Fund Advisors, Franklin Templeton Investments, HSBC, Invesco, PIMCO, Vanguard, global insurance companies, major banks and others, he has educated professionals, business owners and consumers about strategies for investing, insurance, banking and corporate finance for more than 20 years.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/themichaeldavid\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img loading=\"lazy\" decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swoopfunding.com\/us\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/us\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-c23a455 e-flex e-con-boxed e-con e-parent\" data-id=\"c23a455\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-676b817 e-con-full e-flex e-con e-child\" data-id=\"676b817\" data-element_type=\"container\" data-e-type=\"container\" 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class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Create your free Swoop account to easily apply for a employee retention credit application<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f9fff16 elementor-widget__width-auto bt-form-45 elementor-mobile-align-center elementor-widget-mobile__width-inherit elementor-widget elementor-widget-button\" data-id=\"f9fff16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/us.swoopfunding.ca\/stage\" target=\"_blank\" rel=\"noopener\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Join Swoop<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-613685b e-flex e-con-boxed e-con e-parent\" data-id=\"613685b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-ec1b2d9 elementor-widget elementor-widget-ucaddon_auto_page_related\" data-id=\"ec1b2d9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_auto_page_related.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n\n <div class=\"container-auto-page-related\">\n <p class=\"title-related text-center\">Related pages<\/p>\n <div class=\"auto-page-related\">\n <ul>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/erc-application\/\">ERC application <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/erc-vs-ppp-can-i-qualify\/\">Employee Retention Credit vs PPP Loans <\/a>\n <\/li>\n <li >\n <a href=\"https:\/\/swoopfunding.com\/us\/business-loans\/employee-retention-credits\/\">Employee retention credits <\/a>\n <\/li>\n <\/ul>\n <\/div>\n <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-ba37f79 e-con-full e-flex e-con e-parent\" data-id=\"ba37f79\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-43cab0c elementor-widget elementor-widget-template\" data-id=\"43cab0c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" 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Add a header to begin generating the table of contents Page written by Michael David. Last reviewed on April 24, 2025. Next review due October 1, 2027. Michael David Expert financial copywriter Michael David is a financial writer and former investment advisor. Writing [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":0,"parent":24833,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-24849","page","type-page","status-publish","hentry"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Employee Retention Credit vs PPP Loans \u2013 Can you qualify for both? Add a header to begin generating the table of contents Page written by Michael David. Last reviewed on February 28, 2026. Next review due October 1, 2027. Michael David Expert financial copywriter Michael David is a financial writer and former investment advisor. Writing for Capital Group, Dimensional Fund Advisors, Franklin Templeton Investments, HSBC, Invesco, PIMCO, Vanguard, global insurance companies, major banks and others, he has educated professionals, business owners and consumers about strategies for investing, insurance, banking and corporate finance for more than 20 years. 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