Hi there - just your friendly neighborhood MBA/ former banker/freelancer/writer here. I& #39;ve seen tweets about freelancers & PPP loans. While this could be a good option if you& #39;re in need of funds, there are a lot of financial implications to consider. A thread w/ resourceshttps://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
PPP loans aren& #39;t free gov& #39;t $ w/ no strings attached. There& #39;s a cap on the forgiveness amount & you must apply to be forgiven. There are implications to your credit score for applying & the rules are changing constantly. More info from @freelancersu: https://blog.freelancersunion.org/2020/05/05/to-get-a-ppp-loan-forgiven-youll-need-to-ask/">https://blog.freelancersunion.org/2020/05/0...
I also worry about some banks approving PPP loans in a predatory way. I was in banking during the last financial crisis & saw so many people lose everything to unethical banks. Banks are notorious for not explaining the fine print & I don& #39;t want you to be hurt by that!
After researching, you may decide this is a good option for you. If so, terrific! I just don& #39;t want anyone to set themselves up for future difficulties. We& #39;re all facing enough hardship as it is in so many ways. I hope this thread & the links are helpful.https://abs.twimg.com/emoji/v2/... draggable="false" alt="❤️" title="Rotes Herz" aria-label="Emoji: Rotes Herz">
You can follow @christanyc.
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