While most federal COVID-19 relief programs are available to both for-profit and nonprofit entities, the road to securing that relief can look very different for a nonprofit organization.
On Tuesday, February 9, Grassi’s Nonprofit advisors and Emergency Loan Consultants provided a special COVID-19 relief update to help nonprofit leaders identify and maximize all available avenues of relief. Topics of discussion included:
- New eligibility rules for Paycheck Protection Program (PPP) second draw loans
- Calculating a nonprofit’s gross receipts to determine PPP revenue reduction requirements
- Best practices for PPP loan forgiveness applications
- Expanded availability of employee retention credits
- Update on employer requirements under the Families First Coronavirus Response Act (FFCRA)
- Economic Injury Disaster Loan (EIDL) program and other sources of COVID-19 relief