PLEASE NOTE: Some information in this post has changed - see our COVID-19 webpage for the most recent guidance >
As a part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) the Small Business Administration's Paycheck Protection Program is a loan option for nonprofits that provides eight weeks of cash-flow assistance through 100 percent federally guaranteed loans to employers with fewer than 500 employees to maintain their payroll during this emergency. The program offers forgivable loans to cover payroll and other eligible costs, up to $10 million, and is retroactive to February 15, 2020, to help bring workers who may have already been laid off back onto payrolls.
Funds are limited so act now.
Applications are accepted on accepted on a first-come, first-served basis beginning Friday, April 3rd.
Applications must be submitted to an eligible 7(a) lender. Contact your local lender to determine application submittal process.
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To access a Stimulus Loan Calculator for use as a template for gathering the necessary application information
CLICK HERE >