If you’re a small business owner, sole proprietor, or an independent contractor, you , or PPP loan. The purpose of this loan is to help keep your business operating, especially if it means being able to keep paying your employees (yes, yourself too!). Many people don’t realize they might qualify for these loans, particularly immigrants to the United States.
At Remitly, we know that a fair number of our customers are business owners or independent contractors. Immigrant-owned businesses help keep the economy afloat. According to New American Economy, a bipartisan research and immigration advocacy organization, 3.2 million immigrants in the United States ran their own businesses in 2019.
The PPP loans are designed to help during the COVID pandemic, similar to the stimulus check program; these loans, however, work a little differently.