It depends. A PPP loan is like any other loan. Getting the loan does not stop you from getting Unemployment Insurance (UI) or Pandemic Unemployment Assistance (PUA) benefits. If you use the PPP loan funds to pay yourself, then the amount you pay yourself is treated as earnings, the same as if it were not PPP funds being used.
If you use the PPP loan to pay for business expenses (such as rent on your business location, office supplies, materials or advertising for your business, etc.), that does not constitute paying yourself. If you use the PPP loan to pay non-business expenses, like paying your personal car payment, groceries or similar expenses, those are considered payments to you and are reportable.
If you are using your PPP loan funds to pay for personal expenses, the answer is a qualified ‘yes’ that you can receive unemployment insurance benefits. It is a ‘yes’ as long as you do not make more than your weekly benefit amount. For example, if your weekly benefit amount is $300 and you make $301 one week, you will not get a benefit that week.