COVID-19 Wrecking Your Small Business? Here Are Three Government Programs That Can Help
COVID-19 Wrecking Your Small Business? Here Are Three Government Programs That Can Help

Business Insider reports there are three federal programs that can support self-employed people affected by the coronavirus pandemic.

Unemployment benefits have been extended to freelancers.

That's a benefit not typically available to the self-employed.

If you make less than roughly $50,000 per year and your income has suffered due to COVID-19, you'll likely make as much if not more on unemployment.

If you make more than $50K a year, the Paycheck Protection Program lets you borrow 2.5 times your monthly income.

Interest rates are super low on these loans, and if you use the loan money to continue paying yourself, you don't have to pay it back!

Finally, the Economic Injury Disaster Loan program can provide low-interest loans and even outright grants to self-employed people.

Also, if you plan very carefully, these programs can, in some cases, be combined!