Special Notice to Independent Contractors and Self-Employed Individuals
Dear Independent Contractors and Self-Employed Individuals:
As of today, April 10, 2020, the SBA announced it would begin accepting Paycheck Protection Plan loan applications for independent contractors and self-employed individuals. Unfortunately, we have yet to receive satisfactory Small Business Administration guidance on critical calculations needed to evaluate these applications. For this reason, Baker Boyer will be unable to accept applications for independent contractors or self-employed individuals until after we have received guidance from the Small Business Administration and/or the Treasury, and we have developed our process to verify wages, commissions, income, and net earnings.
We sincerely apologize for any inconvenience. But, we cannot process loan applications for loans whose rules have not yet been set out in guidance. Please continue to visit our website and we will inform you when we can accept PPP loans for independent contractors and self-employed individuals.
Mark H. Kajita, CPA
President and CEO
Baker Boyer Bank
For more information about actions taken by Baker Boyer, please review our COVID-19 Response page. You may also want to review the list of links and information we've compiled on our Coronavirus Resources page.