03-26-2020, 05:16 PM
The Coronavirus Aid, Relief, and Economic Security Act is getting ready to pass in the House. Now is the time to understand what benefits nonprofit organizations will be able to get once this history bill is passed. Small the medium sized nonprofits will be able to take advantage of up to a $10 million 7(a) small business loan that can be used for payroll expenses. Loans must be taken out between 2/15/20 and 6/30/20 and organizations must have 500 or fewer employees. Take a look at the Ultimate Donations blog post on the CARES Act linked above for more information and links to the bill itself. Leave any questions you have in the comments.