Organizations that already got a PPP loan can apply for a new loan if they can demonstrate a continuing financial impact from the pandemic. Read this press release from the SBA for more information.
To take advantage of this opportunity, start by having a conversation with your current bank/lender. If that institution is not a PPP lender, use the PPP Lender Match tool or contact 501 Commons. We can help you at no cost in the following ways:
- Any eligible nonprofit can apply for a loan through our lending partner, the National Development Council (NDC). Our Financial Services program can help you with the application process. To request assistance, please fill out the PPP Loan Origination Request.
- If you have a question about the PPP program, email us at email@example.com.
- We can assist you with loan forgiveness. Email firstname.lastname@example.org.
If you are a performing arts or cultural organization that’s been impacted by COVID-19, you should apply for the Shuttered Venue Operators Grant offered by the U.S. Small Business Administration. Eligible organizations with a reduction in revenue due to the pandemic will have the opportunity to receive up to $10 million in grant funding under the program.
Watch this webinar for introductory information about the grants, who can apply, how potential organizations can prepare, and additional details to get started.
- See our guidance on seeking PPP loan forgiveness.
- Read up on a helpful summary of the CARES Act.
- Washington Nonprofits provides a summary of the new COVID relief bill. Subscribe to their Public Policy & Advocacy Updates (and other emails).