What’s in the Bill for Nonprofits

What’s in the Bill for Nonprofits

The CARES Act provides significant funding for governments, companies, hospitals, schools, and social help programs, among a number of other things. Here are key conditions of sector-wide interest to charitable nonprofit companies.

Paycheck Protection Program Loans (emergency SBA 7(a) loans): produces an urgent situation loan system providing loans as much as ten dollars million for qualified nonprofits and smaller businesses, permitting them to pay for expenses of payroll, operations, and financial obligation solution, and offers that the loans should be forgiven in entire or in component under specific circumstances. Area 1102.

  • General Eligibility: open to entities that existed on February 15, 2020 and had paid workers or compensated contractors that are independent. Read More …