Everyday we hear about how the unemployment rate is skyrocketing, reaching historical levels due to the physical and economic devastation of COVID-19. Many are struggling to find ways to make ends meet. Most of the disolved jobs are those considered as frontline positions such as waitresses, customer service representatives, contractors, etc. On top of that, small businesses are struggling to keep the lights on and their employees paid. The fact is, members of the black community are most affected by these conditions.
But there is hope!
You may have heard about the Cares Act but not many are taking advantage of the opportunity it presents. The SBA PPP(Payment Protection Program) program allows for businesses to gain access to $659 Billion dollars in government funds. This is not only for business owners but also covers those who are self-employed(1099 Tax Form) workers, independant contractors, nonprofit organizations (such as churches), etc.
The loan can be used to cover:
- Interest Payments
- Employee Salaries
- Independant Contractor Payments
For more information on the Payment Protection Program and the Cares Act, visit www.OurFairShare.com