Make Sense of Federal Relief Funding Here
SBA, in consultation with the U.S. Treasury Department, will open the Paycheck Protection Program loan portal on Monday, January 11, 2021, at 9 am ET. When the PPP loan portal system opens, it will initially accept First Draw PPP loan applications from participating CFIs, which include Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. See full information here.
The CARES Act
Update June 19, 2020
The U.S. Small Business Administration announced they have reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program portal to all eligible applicants, including U.S. small businesses and nonprofits. After funds for the program were replenished in April, the SBA limited access to these funds to agricultural businesses only, and we are pleased that they have decided to open applications back up to other industries in need of relief. For more information on EIDL programs, please reference US Travel Association's fact sheet.
Update June 15, 2020
The Federal Reserve Board announced it will be seeking public feedback on a proposal to expand its Main Street Lending Program to provide access to credit for nonprofit organizations. As with the existing Main Street Lending Program, which targets small and medium-sized businesses, the proposed expansion would offer loans to small and medium-sized nonprofits that were in sound financial condition before the coronavirus pandemic and could benefit from additional liquidity to manage through this challenging period. Find more info HERE.
Families First Coronavirus Economic Disaster Injury Loans (EDIL)
Paycheck Protection Program (PPP)
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