On May 15, 2020, the Small Business Administration (SBA) released its PPP loan forgiveness application and instructions providing guidance to PPP loan borrowers. The welcome instructions come more than six weeks after PPP loan applications were first accepted. The guidance strays from the original legislation (the CARES Act) in some parts and clarifies some of …
Nonprofits have been struggling to successfully apply for PPP Loans under the Paycheck Protection Program (PPP). PPP is the government program that provides forgivable loans to small businesses that keep their employees. Whatever the reasons, nonprofits with 500 or fewer employees are encouraged to apply. As of this writing, $125 billion remains to be distributed. …
While the pandemic is hitting the entire nonprofit sector very hard, the Covid-19 impact on arts nonprofits has been particularly acute. In good part this is because the social distancing necessary to combat the virus is so antithetical to the very nature of our cultural gathering spaces. The impact is also being deeply felt by …
Since the recent enactment of legislation providing COVID-19 relief to nonprofit organizations, a flood of information has deluged the Internet and inboxes about how to partake of that relief. Most of that is about the Payroll Protection Program, the forgivable loan available to small businesses including nonprofits. Unfortunately, some of this information has been incorrect, …
Relief is on the way for nonprofits affected by the COVID-19 pandemic, including forgivable loans.
In the wake of the COVID-19 outbreak, federal and state governments have provided the country with several waves of relief for employers, including nonprofits, to help ease the burdens caused by the pandemic. New programs will affect nonprofit employers by imposing upon them new obligations towards their employees and by providing them with benefits to …
