One of the small-business loan relief programs included in the historic stimulus package Congress passed in March contains a provision that many gig workers and freelancers might have overlooked.
They’re eligible for a $1,000 grant that doesn’t need to be repaid.
Here’s how it works: Amid the coronavirus pandemic, small-business owners who have lost revenue can apply with the Small Business Administration for an Economic Injury Disaster Loan of up to $150,000.
Now, there’s another provision of the EIDL program, called the advance, under which small-business owners can collect a $1,000 grant per employee for up to 10 employees, or $10,000. And those funds don’t need to be repaid.