S corporation payroll costs include W-2 wages paid to employees (both owner-employees and non-owner-employees), state and local payroll taxes, health insurance, and retirement benefits.

So the accounting requires a little more work… but other than that, the application works the same way. E.g., if the average monthly payroll cost (including all that stuff I just mentioned) equals $4,000, the loan equals $10,000.

BTW, there is no PPP minimum. And Georgia wouldn’t have (or shouldn’t have) a state law that rewrites federal law. I suppose it’s possible the bank decided some PPP loans are too small to bother with… that’s an ugly possibility. This earlier blog post may provide additional info that’s useful: http://evergreensmallbusiness.com/paycheck-protection-loan-formula-explained-and-illustrated/

Not sure I understand what your questions are. But you should still be able to make a PPP loan work even if you don’t have a special business bank account. The one problem with having funky or jury-rigged banking and accounting, however, is you won’t easily be able to show stuff to the banker in a way that makes sense and that “looks” right.

An LLC owned by one owner is ignored. Tax law also uses the word “disregarded.” I.e., a single owner (or single member) LLC is disregarded for tax accounting purposes.

What that means in your case, probably, is that the LLC doesn’t affect ANYTHING! 🙂 So you just have a sole proprietorship. And then you get into the question of whether or not you had profits in 2019… those profits “set” the potential PPP loan amount.

It sounds like you didn’t have profits but did operate. So that unfortunately means you don’t get a PPP loan. Sorry.

BTW, different rules apply if you started your business in 2020. (As noted in other comments.)

OK, so you want to use the PPP loan to pay the proprietor (I.e., you.) That’ll give you forgiveness… and it is also means you won’t lose tax deductions. See this blog post: http://evergreensmallbusiness.com/sole-proprietor-and-partnership-ppp-tax-rules/

The proprietor (the owner) would need to write a check to her or himself. The forgiveness applications, in other words, require a payment or payments be made.

I think the SBA assigned the PPP number when the bank submits the loan to the SBA.

I think/agree a sole proprietor needs to make a payment to him or herself. That’s in the instructions.

I believe you. But the statute said the credit score shouldn’t matter except for a few special cases (like defaulting on a prior SBA loan).