Paycheck Protection Program and the Pandemic Unemployment Assistance

Due to the current COVID-19 pandemic, several people are eligible for monetary assistance from the US federal government and/or financial institutions. Please take a look at the two programs that may help you in these trying times.

1. Paycheck Protection Program (PPP)

With the help of the U.S. SBA (Small Business Association), we have provided the following information regarding the PPP Program and emergency funding:

“The Paycheck Protection Program (PPP) allows lenders to offer low-interest loans that may be 100% forgiven in certain circumstances. Independent contractors and self-employed individuals that have been adversely impacted by the COVID-19 pandemic have been eligible to apply for these loans since April 10, 2020. The requirements are straightforward. You must have been in operation on February 15, 2020, your business must have been harmed by the COVID-19 pandemic and you must submit the required documentation along with your loan application.”

For more information about the Paycheck Protection Program (PPP), visit the official website. To obtain financial assistance, you will need to get in touch with a verified financial lender. Call your bank to learn more, or apply through Kabbage by clicking here.

2. Federal Pandemic Unemployment Assistance (PUA)

“The U.S. Department of Labor announced the publication of Unemployment Insurance Program Letter (UIPL) 16-20 providing guidance to states for implementation of the Pandemic Unemployment Assistance (PUA) program. Under PUA, individuals who do not qualify for regular unemployment compensation and are unable to continue working as a result of COVID-19, such as self-employed workers, independent contractors, and gig workers, are eligible for PUA benefits. This provision is contained in Section 2102 of the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act enacted on March 27, 2020.”

Please note that PUA is a federal program and you must submit applications through your local state. Please find more information about the program on the U.S. Department of Labor’s website.

Note: Even though we try to publish accurate information, we recommend you to check out the official government websites and legitimate sources for up-to-date information.