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Covid Stimulus

Date: 5/15/2020 8:29 AM (PST)

Will you refer me to where I can apply for some economic stimulus help. I don't have employees. My workload has stopped. Thank you

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Expert

Date: 5/18/2020 11:00 AM (PST)

Hi John D! Great question that I am sure so many others may have. Self-employed individuals may be eligible for Coronavirus (COVID-19) relief through the U.S. Small Business Administration (SBA). Programs such as Economic Injury Disaster Loan Emergency Advance provide relief through grants of up to $10,000. For eligibility you can visit the SBA website: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance.
Many states have made unemployment benefits available to those that were previously ineligible. You can use this link to check your state’s unemployment insurance program rules or contact your local unemployment benefits office: https://www.careeronestop.org/LocalHelp/UnemploymentBenefits/find-unemployment-benefits.aspx.
You check your eligibility for the Economic Impact Payment on the IRS website: https://www.irs.gov/coronavirus/economic-impact-payment-information-center.
Some additional relief programs include: SBA Express Bridge Loans that provide small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000. Details are here: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-express-bridge-loans. You may want to also check out the SBA Debt relief options: https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/sba-debt-relief.
You may also be able to delay tax payments. California small businesses can defer taxes for 12 months: https://www.checkbca.org/blog/2020/4/ca-small-businesses-can-defer-taxes-for-12-months-544. I am also linking a blog we published regarding the CARES Act and Emergency Relief for Small Businesses: https://www.checkbca.org/blog/2020/3/cares-act-and-emergency-relief-for-small-businesses-543.
As this pandemic emerges, new stimulus programs are being discussed and laws updated to provide assistance to individuals and businesses. If you have not done so, follow us on Facebook for important updates. You can also check back at our website for alerts and assistance.
Wishing you all the best through this pandemic John. Stay safe!

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