Self-employed Now Eligible for Idaho COVID-19 Grants
Idahoans who are self-employed now have access to small business grants if they've been impacted by the novel coronavirus (COVID-19) pandemic. The Governor's Coronavirus Financial Advisory Committee expanded eligibility to self-employed people to get up to $7,500 in grants from the Idaho Rebound cash funds totaling $300 million.
Self-employed people will be able to apply on May 27 for the grants through a Taxpayer Access Point (TAP) account and should set it up (if they don't already have one) before the application phase opens. According to Gov. Brad Little's Office, more than 2,600 applications have been approved worth $26 million in grants to small businesses with 19 or less employees.
According to rebound.idaho.gov, The self-employed grants are targeted to those individuals who have not gotten U.S. Small Business Administration-backed (SBA) Paycheck Protection Program loan or received Pandemic Unemployment Assistance payments. The business must also provide 50 percent of the income for the individual to qualify, among other things.