Depending on the nature of your work and company, owners of home-based business may be eligible for the following business and individual supports. A home-based business is a business operated out of a residential property where commercial activity is not zoned to take place.
- Financial Assistance is available from the U.S. Small Business Administration, via Economic Injury Disaster Loans (EIDL) or the new Paycheck Protection Program (PPP). Technical assistance is also available to help businesses apply for these federal programs.
- You can apply for financing from a private bank.
- If you are eligible for unemployment, you may benefit from Enhanced Pandemic Emergency Unemployment Compensation.
- You may receive an Economic Impact/Stimulus Payment from the IRS.
- If you are an employer, you may be able to make use of New Employee Retention Tax Credit and Potential Deferral of Employer Federal Payroll Taxes under the CARES Act.
Updated: April 7, 2020