Support for Freelancers in the midst of COVID
Small business loans in response to the Coronavirus/COVID-19 pandemic.
If you are a freelance designer, maker, or self-employed hustler you have been directly affected by the COVID-19 outbreak. Unlike 52% of American workers that are employed by companies with more than 500 employees*, your income is contingent on your client relationships and their financial confidence. When they are doing well you are doing well. While working from home might be a nice reprieve for your friends who are in-house (no pun intended) or at a design agency, you’ve got unique struggles and this is far from a vacation. Either you are slammed with digital work helping clients communicate their responses to the pandemic or you are finding out that they are having to postpone conferences, projects and/or payments. For those of you experiencing the latter, likely you are looking for relief. You’ve probably heard news about government loans and stimulus packages being offered soon and are wondering if they apply to you. Luckily, we’ve had similar questions and concerns, so we’ve taken the time to learn more about the new Coronavirus Aid, Relief and Economic Security (CARES) Act and have broken down the information for you.
Because of the nature of this disaster, almost everyone can benefit from the upcoming funds. According to the Labor Department, "unemployment insurance programs provide unemployment benefits to eligible workers who become unemployed through no fault of their own." That includes freelance designers!
Typically, being “eligible” for unemployment benefits is only open to a much smaller pool. Under the circumstances surrounding COVID-19, though, these benefits now include “gig workers like Uber drivers, self-employed people, freelancers and contract workers.”
Why should you apply?
In the midst of this outbreak, every day is bringing new challenges. The goal of the stimulus package is to ensure that you can financially stay afloat and help support the local economy during these uncertain times.
How do you apply?
To apply for unemployment benefits, go through your state’s unemployment website. There are some instructions for applying in Texas here. If you aren’t in the Lone Star state, you can find information about your state here.
Don’t give up!
You may find that your local unemployment insurance website is down or the phone lines are jammed when trying to contact the workforce commission. Don’t give up! Record millions of Americans are currently filing for unemployment. That doesn’t mean the funds aren’t there. It just means that the queue is exceptionally long. Persistence overcomes resistance.
Comprehensive articles that delve deep into the unemployment benefits for Americans have been published by both the New York Times and NPR.
“You should apply for benefits as soon as you are unemployed or underemployed because the claim will start the week you complete the application. The state does not pay benefits for the weeks before you applied.”
How much will I get?
The amount of financial aid you receive will vary based on your previous earnings and your state. According to the American Department of Labor, “The new law also increases weekly benefits for all unemployed workers by $600 a week for up to six months, and 13 weeks of benefits on to the number of weeks a state currently pays benefits.”
Work may be slow, but opportunity still abounds! Stay tuned as we discuss enrichment opportunities to invest in our futures.
*according to the U.S. Small Business Administration
