On March 27, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This law provides unprecedented support for nonprofit organizations.
One of the most significant potential benefits is the Paycheck Protection Program, a forgivable loan that could help you retain staff through the pandemic. After the initial $349 billion allocated was exhausted, Congress just approved additional funds for this program. You need to submit your organization’s application quickly to benefit before the money runs out again.
The Paycheck Protection Program has proven challenging to navigate. Understanding the details will enable you to increase your organization’s chance of approval. Government funding can allow your organization to survive COVID-19 and tackle your mission with newfound resources and vigor.
- Does your nonprofit qualify for the Paycheck Protection Program (PPP)?
- How should you apply for PPP funding?
- What other loan options are available to nonprofits?
- What should you do if you applied for a loan and have not heard back?
- What support exists for nonprofits of all sizes?
- How has the CARES Act radically changed the philanthropy environment?
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