Ind. Contractors and Self-Employed Now Eligible for Payroll Loans/Grants

Mike Seals - April 10, 2020 11:26 am

Starting April 10, 2020, independent contractors and self-employed individuals can apply for and receive loans to cover their payroll and other certain expenses.

Program Highlights:

  • Potential 100% loan forgiveness for 8 weeks of qualified loan uses.
  • Fixed low interest rate at 1.00%
  • No collateral required
  • 2-year terms

Who Can Apply

Independent contractors receiving 1099-MISC forms and self-employed individuals are eligible to apply for these potentially 100% forgivable loans beginning on April 10, 2020.

The requirements are straightforward. You must have been in operation on February 15, 2020, your business must have been harmed by the COVID-19 pandemic, and you must submit the required documentation along with your loan application.

For more details, click here.

For additional resources and information for Oklahoma businesses affected by Coronavirus, visit our COVID-19 resources page

The State of Oklahoma has developed a webpage with important links and information for Oklahomans affected by COVID-19.
Subscribe on the webpage to receive updates.


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