Because of the coronavirus/COVID 19 pandemic, many large and small businesses are turning to a remote workplace. For many people, this means rearranging their spaces to include a home office. If you need emergency cash to pay for a home office, you may be considering your best options.
Well, the good news is that there are ways to get the cash assistance you need to create your office space at home. Additionally, things like talking to your employer about the things you need, from assistance programs to all kinds of emergency loans, there are ways out there, so you can get the tools you need to work from home.
Talking to Your Employer About Your Home Office
When you are an employee to a business, they should provide you with the tools you need to work from home. Things like a computer/laptop and the accessories that come with subscriptions to the software you need to work with, an office chair, printers, and really anything else you need to successfully do your job from home.
In some cases, you may even receive the funds to get new home office equipment. Additionally, you can receive reimbursement for the funds. Talk to your employer about setting up your home office and let your IT department know about any connection related work issues.
How Can the Cares Act Help Individuals and Small Businesses and Those Who Are Self Employed?
Due to the pandemic, many small businesses, larger companies, self employed individuals, and those who are contract or freelance workers may be struggling. To combat this, The U.S government passed the CARES ACT, which provides all kinds of aid to a variety of workers.
Here are a few of the different coronavirus aid packages. These are meant to provide economic security, or at the very least, emergency money for the American people to get by during the pandemic:
Stimulus packages for Individuals and Families
In addition to the first stimulus package, another stimulus check package may be sent out soon. These checks are to help get money in the hands of individuals and needy families so they can take care of their financial needs. Keep in mind there is an income cap, and so those with low income up to a moderate-income can apply. Below are the requirement details:
U.S. citizens and U.S. resident aliens would get $1,200 or $2,400 if they filed married filing jointly. If they are not a dependent of another taxpayer and have a work-eligible Social Security number with adjusted gross income up to:
$150,000 for married couples filing joint returns
$112,500 for the head of household filers and
$75,000 for all other eligible individuals
Taxpayers will receive a 5% reduction in their payment for the amount their AGI is above these amounts.
If you filed your taxes online, then you should be able to have the stimulus funds sent straight to your bank account.
Additional Programs to Consider
Small Business Administration Paycheck Protection Program (PPP)
The PPP program would provide cash flow assistance through guaranteed federally funded loans to employers who maintain their payroll during COVID 19.
SBA Economic Injury Emergency Grant Program
These grants provide an emergency advance of up to $10,000 to small businesses and private non profits who are negatively impacted by COVID 19. In order to get these grants, you must first apply for an EIDL and then request the advance.
Tax Deferment Programs
Certain taxes will be deferred, depending on the type of employment you have.
Federal Loan Programs
There are a variety of loan options through the federal government because of the CARES ACT. Look into additional information to find out if these federal government loans could help you, your businesses, or your employees.
How a Loan May be Able to Help you Get the Emergency Cash to Pay for a Home Office
A loan may be another place to get the financial assistance that you are looking for in order to build your home office. Here are a few loan options that may work well for the different unexpected expenses that can come with working with a home office:
Loans for Those with Good Credit
Here are a few loans/lending that is well suited for those who have good credit and need some extra cash:
- Credit Cards. A credit card can be a good way to cover a large expense or small expenses. For those with good credit, the interest on the money spent can be low, and sometimes could even be zero. Also, a cash advance from a credit card could be an option to consider.
- Personal Loans. Personal loans can be used for a variety of reasons, including for moving expenses. For those who have good credit, they may be able to find a personal loan that comes with a good interest rate and flexible repayment terms.
Loans that May Work for Those with Bad Credit:
Here are a few loans out there, which may be a good option for those who have bad credit:
- Title Loans. Title loans are loans that use the equity of a vehicle to make funding available for the borrower. These loans are available to those who have a low credit score and can make funding available fairly quickly. Just make sure to look at several lenders, as interest can be fairly high with these loans.
- Payday Loans. These loans are secure using the borrower’s paycheck. Additionally, these loans are meant to be paid back when the borrower gets paid. These loans are short-term and are available to a wide range of credit histories, and come with pretty high-interest rates, so look around before committing.
- Home Equity Loans. If you are a homeowner, you may be able to use the equity in your home for funding.
When looking at any loan with a high-interest rate, it is important to really think twice about taking out the loan, and the urgency, before choosing to take on the responsibility of having to pay it back.
Loan Options Open to Various Credit Scores
- Borrowing from Family Members or Friends. If possible, another loan option to consider is to ask family members or friends for some funds.
- Business Loans. Business loans can sometimes work even with low or fair credit. These loans can cover all sorts of costs, like supplies, expenses to expand, employee pay, and benefits like healthcare. And even setting up home offices for remote workers.
- Student Loans. If your work involves academia (Ph.D., graduate, or pre-graduate), you may be able to use the funds from a student loan t
Applying for a Title Loan with Max Cash Title Loans
If you are thinking of a title loan for extra cash, start with the experts at Max Cash Title Loans. At Max Cash Title Loans, we are the #1 nationwide title loan marketplace. No matter what we do, we put our clients before everything. Here is what the title loan process will look like:
1) Apply for a Title Loan. The first step will require you to reach out to us, send us a text or call us with your cell phone AT 855 561 5626, or head to our website to apply for a title loan.
2) Talk to a Loan Agent. After you reach out to us, a friendly loan agent will call you back and ask a few questions about the kind of loan that you are looking for. From here, they will begin the search for title loan lenders from our network across the United States. Once a lender is found, you can apply with them, while we help. 5
3) Find Out Final Approval with a Lender. You’ll have to send in some documents, and you’ll find approval shortly. Once approved for a title loan, you can get your funds, sometimes in as little as one business day! 1 2
4) Get Your Title Loan Funds. The funds can be sent straight to a checking account or debit card, sent to you via a check, or picked up at a local MoneyGram. 1 2
If you need more information, check out our FAQ page or give a loan agent a call and talk to them about the temporary assistance that you need.
Apply for the Financial Assistance that You Need
Ready to get started on your home office? Getting emergency cash that you need can be easier than you may think. There are several options you can consider, like talking to your employer, looking into financial assistance programs, or taking out a loan.
If you think a title loan is a right place to begin, then start with Max Cash Title Loans. To apply, head to our website and fill out an online title loan application.