Need Financial Support Now? No-Cost Technical Support and Lending Opportunity Available for WA Non-Profits Serving Rural and Underserved Communities Interested in the SBA’s PPP
Does your non-profit need funding now?
The US Congress just passed an additional $484 billion in emergency coronavirus aid, replenishing the Paycheck Protection Program (PPP) loans/grants for small businesses and nonprofits. The Congressional deal includes $321 billion in additional funding for the PPP. The bill has been signed into law and the US Small Business Administration (SBA) re-opened the PPP loan application portal on Monday morning, April 27. Given the demand for these funds, we expect the new funding will be exhausted just a few days.
It’s not too late to pursue this funding to support your organization. Free technical assistance is available to nonprofits which serve underserved and rural communities through 501 Commons, a nonprofit focused on sustaining and growing strong nonprofit organizations across Washington. 501 Commons can help you with pursuing a loan from your local financial institution, or there is also a special opportunity for your PPP application to be prioritized through the National Development Council (NDC), a national nonprofit focused on increasing the flow of capital to underserved communities. Please note that applications supported by 501 Commons or submitted through the NDC don’t guarantee funding, but your application will be well-positioned in the process.
Here’s information about the US Small Business Administration’s Paycheck Protection Program, which provides loan forgiveness to approved applicants for retaining employees.
Did you already apply to the PPP program, and have a stalled loan, or do want to apply? If so, please fill out this brief survey so 501 Commons can match you with:
- available lenders including the nonprofit National Development Council (NDC), an approved SBA lender
- application assistance to get stalled loans through the process
These services are free, but you need to act immediately to be in the queue to receive funds.
The survey will take from 1-5 minutes of your time, and will help 501 Commons serve you quickly. Depending on your responses, 501 Commons will email you information about how we can help you start an application with a lender or get one successfully submitted.
Should you experience a problem, email [email protected]
Information and Resources:
- Visit 501 Commons’ federal funding resources page for resources and advice to help optimize your chances of converting the PPP loan partially or totally to a grant. You will also find free tools to monitor your cash position and cash flow.
- 501 Commons also provides free advice and information on a wide range of topics and referrals to the approved consultants and service providers listed in the Nonprofit Resource Directory.
We wish you health and success in navigating these challenging times.