Often asked: Can A Rapper Use His Name For A Loan?

What is a rap loan?

The Repayment Assistance Program (RAP) is designed to provide payment relief when all parties to the loan are facing financial hardship. Borrowers with eligible loans can enroll in RAP for up to two years (730 days).

Do rappers qualify for PPP loan?

The SBA later confirmed that independent contractors and other self-employed individuals without employees are just as qualified for this program. As an actor, musician, artist, or other performer in the entertainment industry, you earn a paycheck and have financial needs just like anyone else.

What rapper went to jail for the PPP loan?

According to an unsealed complaint, Florida recording artist Diamond Blue Smith and others were arrested on federal charges for their alleged involvement in a fraudulent scheme to obtain forgivable loans through the Paycheck Protection Program (PPP). Unfortunately, the program has been plagued by assertions of misuse.

What is rap OSAP?

Purpose. Both the Province of Ontario and the Government of Canada offer repayment assistance that helps borrowers who are having difficulty repaying their loans. The Repayment Assistance Plan (RAP) is available for all of the following loans: Canada-Ontario Integrated Student Loans.

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Do student loans get forgiven after 10 years?

The Public Service Loan Forgiveness program discharges any remaining debt after 10 years of full-time employment in public service. Term: The forgiveness occurs after 120 monthly payments made on an eligible Federal Direct Loan. Periods of deferment and forbearance are not counted toward the 120 payments.

Can an artist get a PPP loan?

HC: Yes, they qualify if this is their first PPP loan. So long as you had gross income (line 7 on your Schedule C) in either 2019 or 2020, you are eligible. You don’t even need to have had a profit.

Can freelancers get a PPP loan?

In order to apply for a PPP loan as a self-employed individual or independent contractor, you have to meet the following criteria: Must be in operation before February 15, 2020. Must have income from self- employment, sole proprietorship, or as an independent contractor. Must live in the United States.

What is Womply PPP?

Womply is a registered loan agent, helping small businesses streamline the application process and connect with verified SBA 7(a) PPP lenders. We aren’t a lender, but we care about helping small businesses stay solvent amid the COVID-19 outbreak.

Who is not eligible for a PPP loan?

In general, if the applicant or the owner of the applicant is the debtor in a bankruptcy proceeding, either at the time it submits the application or at any time before the loan is disbursed, the applicant is ineligible to receive a PPP loan.

How fast do you get PPP money?

Once a PPP loan application is approved by the SBA, by law you are supposed to receive the disbursement from your lender within 10 calendar days.

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Can OSAP loans be forgiven?

After 15 years since full-time studies, any remaining student loan debt is forgiven. For students with disabilities, any remaining debt is forgiven after 10 years.

What happens if you don’t pay student loans Canada?

If you don’t make payments for 9 months (270 days) on your Canada Student Loans or related provincial student loans you are in default. Once this happens, your student loans are sent to the Canada Revenue Agency for collection. The CRA has broader collection powers including freezing bank accounts and garnishing wages.

Is there any student loan forgiveness programs?

Public Service Loan Forgiveness PSLF forgives the remaining balance on your Direct Loans after you have made 120 qualifying monthly payments under a qualifying repayment plan while working full-time for a qualifying employer. Learn more about the PSLF Program to see whether you might qualify.

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