Now that the Coronavirus Aid, Relief and Economic Security (CARES) Act has been signed into law, Independent Sector has teamed with Washington Council Ernst & Young, a DC-based lobbying firm, to aid nonprofit organizations scrambling to determine how the act will apply to their organizations and how to proceed with filing for assistance.
Below is a resource that will help individuals, small nonprofits (less than 500 employees) and large nonprofits (over 500 employees) understand the eligibility criteria, timelines as we know them, and application information. Things are evolving and changing every day, so please check back regularly as we update this page.
A Tip: Nonprofits should reach out to their primary banking partner as they will be the agents for administering the Small Business Administration (SBA) 7(A) loans. Keep in mind, it could be up to a week before the SBA has finalized all necessary details and protocols that allow banks to move forward.
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