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We Build the Businesses That Build This Great Nation

PayDay Masters Blog

If you woke up the other day to find the government stimulus check in your bank account, Congratulations! This article isn’t for you.  If you haven't received your Economic Impact payment from the IRS yet, here are some reasons why.

As of today, Self Employed business owners and Independent Contractors can apply for financial hardship relief through the SBA's $349 Billion potentially forgivable Paycheck Protection Program loan.  The program, which opened a week earlier on April 3rd, was initially only open only to applications from businesses that had had payroll and employees up until at least February of 2020.  
The Relief package totals more than $2 trillion and a large part of it is set for businesses large and small, who have been most affected by the forced shut downs to control this COVID-19 virus. However there is a portion of the Act that aims to help and support individuals directly!

Phase III of the Relief Package from the Federal Government: Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) is in 2 parts:

Below is a summary of the Key Points of Phase III: