CARES Act – Coronavirus Aid, Relief, and Economic Security Act enacted March 27, 2020 PAYCHECK PROTECTION PROGRAM FOR SMALL BUSINESSES AND SOLE PROPRIETORS
Under good-faith certification that the loan is necessary due to uncertain economic conditions caused by COVID-19
Small businesses, including sole proprietors, may apply for a loan through the Paycheck Protection Program. Self-employed individuals may apply April 10 and it is a first-come, first-serve basis. The loan amount is restricted to a formula and is eligible for forgiveness. Here is some guidance and resources to help:
Resources for sole proprietors:
Small Business Guidance & Loan Resources
Coronavirus Funding Options – SBA loan and debt relief options:
Disclosure: This is for informational purposes only. Please seek advice from your advisor or tax professional. Information may change.