Self-Employed, Solopreneurs, & Independent Contractors Can Access US Federal Relief Programs

My greatest frustration with the U.S. Relief Program is the confusion and difficulties felt by those of you who work on your own. In a recent Alignable poll, 40 percent of you decided not to apply for relief because you didn't think you qualified. The number one reason you stated? You don’t have employees.

But you can access these programs.

Whether it was the poor naming convention (Paycheck Protection Program) or the government deciding that solos had to wait until April 10th to apply, many of you felt this money wasn’t for you. And this segment of the small business community makes up the majority of businesses.

SBA Quick Relief Guide for Solopreneurs, Independent Contractors, and Self-Employed

In collaboration with Robert Nelson (Regional Director of the Small Business Administration), we created this simple summary of each program for you, including how you can apply if you’re one of these businesses. If you don't have an established relationship with a bank, you can find an SBA lender on Alignable.

SBA Quick Relief Guide for Solopreneurs, Independent Contractors, and Self-Employed


Click image to expand
 

Get the SBA Quick Relief Guide for Solopreneurs, Independent Contractors, and Self-Employed

I hope it helps you get access to the relief you so deserve before the government programs run out of cash. 

Note: Updated April 16th: Looks like the Federal Government has blown through allocating the initial $350 billion. Now’s a great time to study up on these alternatives in the hope they allocate additional funding to these programs. 

For those of you operating alone, what funding options have you tried or are you planning to try? Share in the comments.

find the support you need to keep the doors open resource center

160 Comments 31k Views

Comments (1-10)

These systems aren't set up for solo entrepreneurs like me. I applied for a SBA grant with no response nor was I able to reach anyone there.  Now the package is committed.  Maybe there will be a second package.... I applied for my state's unemployment, with a no go because I 'm not a one-job worker. Because my businesses don't fit into the state unemployment system, I may be a candidate for a new  Federal program for contract, etc. business that I read about yesterday that's coming soon potentially. Application is supposed to be complicated though. So I'm not depending on outside help at this point! Here's to entrepreneurs across the nation - we are resourceful, we are strong and we will do more than survive! 

I am a tiny business.  I am a senior who works with seniors, many in retirement homes.  They and I are the most vulnerable and on lockdown.  We probably won't be let loose before the greater economy is back.  I filed for unemployment quite some time ago.  No word.  Now there is apparently a new unemployment program I must apply to.  I tried to apply for PPP through US Bank.  Though they tried, their application process never worked for me and locked me out.  Now Wells Fargo's application is available and that is my bank, so I will try again.  Applied for EIDL also quite a while ago, but there was an error, so I reapplied a week or so ago.

I would really like the option to print out the forms so I can fill and send in should glitches like the above get in the way of an electronic application.  We should not have to depend on just one method in a time of crisis.

Being slow out the gate, unsuccessful in connecting with a funding institution, etc., lands me facing notices indicating funds unavailable at this time. What to do in the mean time? You may have heard me say this before BUT until God opens the next door - I will praise Him in the hallway... and keep on 'Doing My Can Do' (i.e. be a smarter money manager, operating as creatively and frugally as possible).

I applied to banks, approved lenders and thru IL SBA and directly to the Federal SBA. I applied in March before PPP, Cares act. I got in line. I was approved for a small loan a week ago on 4/12 . Signed loan papers on the 16th. It has been stressful. Everyone responded, but only one can through. I also received 1k from EIDL. I'm a sole proprietor with one part-time employee. I'm just waiting for the money to hit my account. I feel fortunate. 

I have applied for both loans PPP and the EIDL a few weeks ago. Our banker is great at keeping us updated.  Now the funds have run out and now we all wait some more.I dont want to give up...I have worked so hard to get this far.  The larger companies are getting the help and here we sit with no help at all. 


BankofAmerica told me that the checking account that I have used for 35+ years did not meet their requirements as a business account so I could not apply for a PPP loan.  they were NOT interested in helping me in any way whatsoever.  when this is over I shall be removing my funds form BOA.

Have applied for all of the above except the Bridge Loan & the debt relief loan.  Will apply for unemployment come Monday when it opens for self  employed & sole proprietors. No action yet. Self employed artists are at the bottom on any business needs list. Gee, if we only had an accounting department (other than ourselves) we could compete with the big girls & boys!

Applied for EIDL loan weeks ago and have not heard a word from them. I am a small business with 4 employees. All of my employees are getting unemployment, but I am still waiting. I have fixed costs to cover and no help that has been promised has come through. This will effect my business and the ability to reopen and rehire. I should also mention that my business is 31 years old. 

For the PPP loan. If you are a sole proprietor...you find your category on your current taxes. You take the amount on your profit and loss form 1040c, divide by 12,this is your average monthly payroll. Multiply by 2.5. This is the amount you borrow. Under number of employees put 1. You can also apply at multiple locations for this loan, but you can only accept 1. Go with the 1st 1 who approves you. Some are harder than others. Get in line as quick as you can, as they are adding pet projects again an the funds will go quickly. It's a shame that small businesses have to fin for themselves.