Paycheck Protection Program aid opens for sole proprietorships and independent contractors investinyou (In partnership with acorns.)
Although the program emphasizes keeping workers on payroll, it is open to solo entrepreneurs who pay themselves by distributions, too.
Many freelancers and self-employed workers are finding that the assistance they were counting on, such as enhanced unemployment assistance under a part of the CARES Act called Pandemic Unemployment Assistance, hasn't arrived yet, as government programs have gotten mired in bottlenecks — and these entrepreneurs are becoming increasingly desperate.
In theory, the programs could offer them significant help. But many advocates for the self-employed fear that bureaucracy will slow the delivery of funds to vulnerable businesses to the point it will come too late.
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