As consultants, part-timers and freelancers, The Second Shift community is uniquely affected by Covid-19 and the government’s CARES Act response. There is a lot of confusing information about what we are qualified for and can expect to receive, so we’ve broken it down for you:
- Freelance unemployment insurance is being offered on a large scale. As stipulated in the House bill, it offers freelancers an additional $600 a week in unemployment insurance, bringing weekly payouts to the $800- to $900-a-week range when state benefits are added, to workers including the self-employed, for up to four months.
- The stimulus package also offers the self-employed and small business owners a $10,000 advance on an Emergency Economic Injury Disaster Loan (EIDL) that does not have to be paid back, even if the borrower does not qualify for an SBA loan. The program provides loans up to $200,000.
The Second Shift team is closely monitoring payments from our clients for your work, but we are seeing payment cycles slow down from even our Fortune 100 clients. Because freelancers can be the bottom of the bills to be paid, some organizations are offering grants to tide them over.
- The Freelancers Union just introduced the Freelancers Relief Fund, which offers a $1,000 emergency grant to freelancers for necessities like rent and groceries that need to be covered before aid is delivered.
- Hello Alice, a funding provider, has also just offered $10,000 emergency grants to small businesses, in conjunction with nonprofits and government agencies, with the aim to deliver them in three weeks.
- U.S. Chamber of Commerce: Coronavirus Emergency – Small Business Guide and Checklist
- Employment Security Department: Workers Q&A / Business Q&A
- Gig Workers Collective: COVID-19 Resources
This is just a sample of what resources are available. Here is a great breakdown from the Freelancer’s Union.
The Helm has a write up of emergency resources available for small businesses.
HoneyBook: Self Employed Unemployment and Coronavirus Stimulus Package: Everything You Need to Know