The CARES Act: Assistance for Smaller Businesses, Sole Proprietorships and Independent Contractors
All smaller businesses, workers, separate contractors, and sole proprietors, including Realtors and estate that is real organizations, should research most of these programs and determine which one is right for them. Each associated with programs that are above along with other programs ( e.g., SBA EIDL Loan) and help included in the CARES Act, are each unique and offer several types of help. Although the PPP Loan Program provides loans to eligible organizations and folks which may be fully forgiven, the PUA Program can offer independent contractors, especially Realtors, who possess historically been struggling to submit an application for the jobless insurance coverage, advantages and financial relief maybe not available beneath the PPP Loan Program.
The PPP Loan Program: Qualified Businesses, Sole Proprietors and Independent Contractors
On April third, loan providers started loan that is accepting beneath the PPP Loan Program from smaller businesses. At the time of April 7th, a lot more than 200,000 applications was in fact submitted. Congress additionally announced that an extra $250 billion could possibly be included with the $350 billion currently allocated beneath the CARES Act as a result of the demand that is high.Continue reading