IEEE-CNSV COVID-19 FINANCIAL ASSISTANCE INFO

The following links are focused toward financial assistance for the self-employed, independent contractors, freelancers, etc., in response to the COVID-19 pandemic.


IEEE–CNSV is providing these links to its members and website visitors as a public service only, and is not responsible for the information provided by these links. Please revisit this page and the links below often for updated information. The details of these programs are changing rapidly, and you will want to stay on top of it.

IMPORTANT! — The Latest…

Paycheck Protection Program (PPP)

Loans from the SBA (Round 2) still have money available (as of June 15.) Sole Proprietors and Self-employeds are eligible for this program – even if you don’t have any payroll or write yourself a paycheck. Applications for PPP loans must be submitted to your bank or other lender by August 8..
 
More info on PPP loans can be found on this page, from our June 11 CNSV panel discussion on the ins and outs for applying.

Pandemic Unemployment Assistance (PUA)

Applications began Tue, April 28. This newer CARES program and is for people who do not qualify for regular Unemployment benefits. This includes Business owners, Self-employed individuals, Independent contractors, and will be administered by the CA Employment Development Dept (EDD).
 → Note that the $600 extra amount will end on July 31 – or until Congress extends it, or passes a new bill for Pandemic financial assistance. However, self-employed and contractors are still eligible after July 31 for up to $450 per week from the state.



  More Links  

Some popular institutions for Payrol Protection Program (PPP) applications:

                    Lendio.com
                    Fundera.com
                    Kabbage.com
                    FundBox.com

The large primary banks can also be contacted, but most require you to have a business checking account with them in order to accept your PPP loan application.

                    Bank of America PPP Loan
                    Chase PPP Loan Info
                    Wells Fargo PPP Loan

Article on Payrol Protection Program (PPP) loans (April 3):
The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.
https://www.vox.com/platform/amp/2020/4/3/21196191/cares-act-apply-small-business-loans-grants-ppp-eidl

Audio recording of CA Sen. Steve Glazer’s Corona Virus Townhall with Legal Aid At Work attorneys (April 8, 1 hour):
Excellent information on all available monetary assistance programs for Californians.
Watch (Listen) on YouTube…

Archive of CA Senator Steve Glazer’s previous audio townhall recordings over the past two weeks (Mar/Apr):
(Note that some were via telephone, so sound quality is a bit compromised)
https://sd07.senate.ca.gov/covid19/telephone-town-hall

Legal Aid At Work – Corona virus FAQ (Self-employed see especially nos. 19 & 20):
https://legalaidatwork.org/factsheet/coronavirus-faq/

Legal Aid At Work – Home page:
https://legalaidatwork.org/

Abbot, Stringham & Lynch CPA – Emergency Funding for your Business (April 7):
Another good overview of available financial assistance programs. https://mailchi.mp/aslcpa.com/emergency-funding?e=b35d2e6262


This page was updated on 14.Jul.2020.