Business Insider reports there are three federal programs that can support self-employed people affected by the coronavirus pandemic.<br />Unemployment benefits have been extended to freelancers. That's a benefit not typically available to the self-employed.<br />If you make less than roughly $50,000 per year and your income has suffered due to COVID-19, you'll likely make as much if not more on unemployment.<br />If you make more than $50K a year, the Paycheck Protection Program lets you borrow 2.5 times your monthly income.<br />Interest rates are super low on these loans, and if you use the loan money to continue paying yourself, you don't have to pay it back!<br />Finally, the Economic Injury Disaster Loan program can provide low-interest loans and even outright grants to self-employed people.<br />Also, if you plan very carefully, these programs can, in some cases, be combined!
