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Information about federal relief funds available to faith-based organizations

Yesterday afternoon, we received the following email from the Center for Nonprofit Excellence in Charlottesville with time-sensitive information regarding federal relief funds available to faith-based organizations, especially those with paid staff.
Good afternoon,
 
You may have heard of the Paycheck Protection Program (PPP), which provides federal dollars to businesses, including nonprofits, struggling to pay staff and some operating expenses due to COVID-19. Congress passed and the President is expected to sign today a new bill that provides an additional $300 billion dollars to replenish the funds in this program, with $60 billion in special set-asides for small businesses and nonprofits. The program starts as a loan but the loan is forgivable if you use it primarily to cover payroll expenses and you meet certain conditions (see here and our summary memo below for more on those conditions).
 
We've been tracking this program closely, and can provide support to help you consider whether it's right for your organization or to navigate the application process. We recommend you act now, though, because the funds are in high demand and will likely run out quickly. Here's how: 
  • If you applied for a PPP but have not yet received it because your bank ran out of funds, check with your bank now to ensure that you have a loan application number and are "in line" if additional funding is received. It's our understanding that you do not need to re-apply.
  • If you have not applied for a PPP but want to - line up a lender now, get your documents in order, and have the application ready to go. 
  • See our summary memo on finding a lender, the PPP application, loan forgiveness (the SBA will be releasing their official guidance on this soon), and additional information on local, state, and federal resources and financial relief, including Economic Injury Disaster Loans & the Emergency Grant/Advance.
  • We're holding a Virtual Town Hall this Tuesday, April 28th from 3-4pm to help answer questions about various relief available.
  • If you'd like help considering whether the PPP is right for your organization or to navigate the process, you can always contact Kadi Davis at kdavis@thecne.org or 661-703-4503 or sign-up for Virtual Office Hours.
Be well,
 
Kadi Davis
Senior Membership Manager
Center for Nonprofit Excellence 
she, her, hers (learn more)
cell: 661.703.4503
office: 434.951.9048
email: kdavis@thecne.org

1701-A Allied Street Charlottesville, Virginia 22903
www.thecne.org
 
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