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PPP Update for Business Owners

On April 23 Congress added significant additional funding to support the PPP and other disaster-related loan programs, the original funding having been quickly exhausted. A portion of the new funding is earmarked specifically to provide assistance to small and minority-owned business and financial institutions.

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Unemployment Insurance for Self-Employed, Gig Workers and Independent Contractors

Governmental unemployment assistance is typically not available for the self-employed, “gig” workers, independent contractors and others who do not have a traditional “employer-employee” relationship. As a result of the current COVID-19 pandemic, federal and state governments have acted to expand unemployment coverage to many of these individuals who have lost business income.

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