Additional relief from COVID-19 disruption came at the end of 2020 that may be beneficial for not-for-profit organizations. While much of the attention has been on the updates to the Paycheck Protection Program in the Consolidated Appropriations Act, 2021 a second law brought changes that not-for-profit organizations may want to note as well.
Topics: Grants, COVID-19, PPP, EIDL, SBA, PPP Loan Forgiveness, Consolidated Appropriations Act, PPP2, The Act, gross revenue, SVO, relief, Shuttered Venue Operator
In response to the financial damage related to the COVID-19 pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among its other provisions, the CARES Act enhanced lending programs and offerings for not-for-profit organizations, which have particularly been affected by the stay-at-home orders and financial uncertainty caused by the coronavirus disease.
There are several loan programs available that may benefit your organization. We have compiled some frequently asked questions to help capture information on how your not-for-profit can take advantage of the relief provisions.
Topics: Bernard Kaplan, nonprofit, Coronavirus, COVID-19, Main Street Lending Program, Economic Injury Disaster Loan Funding, EIDL, disaster relief, loan