Applications For Contractor & Freelancer PPP Loans Are Open: Here’s What The Self-Employed Should Know

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The PPP loans are capped at a 4% interest rate (but will start commonly with a half-percent interest rate) and have a 10-year loan term with no prepayment penalty, and a 6-month payment deferral. As an independent professional or freelancer, you will require to collect the essential documentation required to get your loan moving. The loan needs your returns for processing and determining your loan amount. As a next resource, examine out the SBA Preferred Lending Partners. Hyperlinks to apply for PPP Loans are available on their site.

The PPP loans are topped at a 4% interest rate (but will start extensively with a half-percent interest rate) and have a 10-year loan term with no prepayment charge, and a 6-month payment deferment. As an independent contractor or freelancer, you will require to collect the needed paperwork needed to get your loan moving. Links to apply for PPP Loans are offered on their website.

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