How Can We Help?
RENT ASSISTANCE PROGRAM FOR SELF-EMPLOYED and INDEPENDENT CONTRACTORS
All small businesses qualify for the Payment Protection Program (PPP), whis is a LOAN that may be eligible for forgiveness. This includes:
- Sole proprietors who report income and pay taxes on a Schedule C in your personal tax return.
- Independent contractors who collect 1099-MISC forms.
- Gig economy workers who take on-call jobs provided by companies such as Uber, Lyft, TaskRabbit, and Instacart.
The only stipulation is that your business was operational as of February 15, 2020.
The loan may be eligible for forgiveness, but subject to SBA requirements. Forgiveness is not automatic. You may request forgiveness of some or all of the principal balance of the loan. Forgiveness is only available if you use the funds for certain purposes as permitted by the SBA. If you request forgiveness, you must provide documentation, and must certify, that the loan funds were used for SBA-qualifying purposes. The amount forgiven may be subject to certain limitations and reductions in certain circumstances; for example if you have reductions in number of employees or employee compensation, and only 25% of the forgiven amount may be for non-payroll purposes.
- The borrower will be responsible under the loan for any amounts not forgiven.
- The SBA may limit the timeframe by which you’ll need to ask for forgiveness.
There are about 1800 Lenders who can assist you with the applicaton. Chase bank is one of them. Please read more here
