Coronavirus loan or aid for Sole Proprietor without employees? | TruckMount Forums #1 Carpet Cleaning Forums

Coronavirus loan or aid for Sole Proprietor without employees?

Prouddadx6

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Jan 4, 2010
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Boulder Colorado
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Keith Wroblewski
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Trying to sift through disaster loan and aid possibilities. I applied for a Disaster Loan and have not heard anything. They tell you to apply for a Fema registration number and when I called they said I didn't need one. Has anyone navigated through the paperwork with any success? I'm wondering if service industry companies will have to fend for themselves?
 

keep it clean

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Dec 3, 2012
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Nick
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At the moment all self employed are stuck. I keep hearing rumors. But nothing solid is in place yet that I know of. Everyone from contractors down to that lone soul with a hotdog cart are on our own at the moment.
 
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mrotto

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Sep 1, 2009
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Paul Ottensmann
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maybe this might help

Economic Injury Disaster Loans and Loan Advance


To apply for a COVID-19 Economic Injury Disaster Loan, click here.

In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.
The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing. The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.

COVID-19 ECONOMIC INJURY DISASTER LOAN

SBA - Disaster Loan Assistance



Paycheck Protection Program

Paycheck Protection Program (PPP)


An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

www.sba.gov



other SBA programs:




Coronavirus (COVID-19): Small Business Guidance & Loan Resources
Health and government officials are working together to maintain the safety, security, and health of the American people. Small businesses are encouraged to do their part to keep their employees, customers, and themselves healthy.

www.sba.gov




State Unemployment Agencies (You may qualify for unemployment benefits now):
https://%!*@%%**!%!*@%%**!%!*@%%**!...rces-for-small-businesses.294932/post-4693339
 

ACP

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Apr 9, 2014
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Bjorn Marshall
At the moment all self employed are stuck. I keep hearing rumors. But nothing solid is in place yet that I know of. Everyone from contractors down to that lone soul with a hotdog cart are on our own at the moment.
Huh? As far as I know the SBA disaster loan and the 10k advance you can apply for as a sole prop.

They are even going to help out the independent contractors like Uber drivers
 

keep it clean

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Dec 3, 2012
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Nick
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Your only fcked if you are under the table not paying taxes
Now those guys are completely fkd. Unless they file and report it at least. But doubtful. If not they are getting nada.
I'm still looking out for the relief but cant find anything on it. New rumor is april 10th. As of now it looks like this still:

Self-employed Individuals

The federal CARES Act will provide unemployment benefits to the self-employed, independent contractors, and gig workers. Please continue to check this page for filing instructions. At this time, you should NOT file a claim through the existing online system or phone number if you are not currently eligible for unemployment benefits.
 

PistolPete

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Sep 28, 2014
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Peter Dymond
You can apply for PPP if you can show that your ability to pay yourself has suffered.
Look for a local bank, hopefully your bank who can help you.
The emergency $10k looks like it may only be $1k per employee, so that's just you as an O/O.
 

DarthSidious

New Member
May 6, 2020
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Heather Kolb
Well, if I were you, I would try to close this loan with another one. Yes, the idea sounds dumb, but sometimes it really works. You can find a bank or loan company which will give you money with the lower interest rate. I did so when I was in the similar situation. This easycashloans.co.za company gave me money with a low interest rate. BTW, you can try contacting them. Maybe they will help you too? I dunno. They've saved my ass something like 2 years ago.