COVID-19 Resources for Fishermen
Paycheck Protection Program
Economic Injury Disaster Loan
Unemployment Benefits are now available to self-employed workers and sole proprietors if they are not working for a COVID-19 related reason. The application is quick and simple. Click here for more information and the application.
The PPP is a loan based on two and a half months of payroll costs. It is forgivable if at least 75 percent is spent on payroll. Other eligible costs include rent, utilities and mortgage interest. This application is through a bank you have a previous relationship with, such as the MV Savings bank. Their application page can be found here. For more information on the PPP compiled by the Cape Cod Commercial Fishermen's Alliance click here. The Small Business Administration's information page is here.
The EIDL provides funds for working capital. It includes a forgivable $1000 per employee, up to $10,000. This loan cannot be used to cover the same costs as the PPP. For information compiled by the Cape Cod Commercial Fishermen's Alliance on the EIDL click here. The EIDL application is available directly through the Small Business Administration and can be found here.