Government Programs

  • Government Programs

The Small Business Administration is currently implementing the American Rescue Plan Act signed into law by President Biden on March 11, 2021. The American Rescue Plan Act provides additional relief for nonprofits through the following updates:

  • $7.25 billion additional for the Paycheck Protection Program, including to expand eligibility to additional nonprofits and digital news services
  • Additional funds allocated for the Shuttered Venue Operators Grant (SVOG)program, and now allows businesses to apply for both a PPP loan after Dec. 27, 2020 and the SVOG
  • $15 billion additional for Targeted Economic Injury Disaster Loan (EIDL) Advance payments, including NEW $5 billion for supplemental Targeted EIDL Advance payments for those hardest hit
  • NEW:$100 million to establish a Community Navigator pilot program; grants will go to eligible organizations supporting efforts to improve access to COVID–19 pandemic assistance programs and resources.

COVID-19 Relief Options

SBA offers several relief options to help nonprofits, and faith-based organizations recover from the impacts of COVID-19.

In addition to programs offered by the SBA, nonprofits can take advantage of the

  • Employee Retention Credit– The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

Webinar Recordings

Have you felt hesitant to apply for PPP loans or other COVID-19 related stimulus programs due to their complexity, or because of unfavorable experiences during the first PPP round? You’re not the only one!

Watch this recording where our panel will demystify the process of applying for PPP loans and other stimulus programs available to nonprofits. Learn about how and why these programs could be strategic opportunities for your organization. You’ll also hear from nonprofit leaders of various sizes or sub-sectors who have successfully applied for and received PPP loans, and from lenders currently accepting nonprofit applications.

Technical Assistance & Support

MNA and Co.act Detroit are offering technical assistance to guide your organization through the labyrinth of application and reporting requirement for the: (i) First and Second-Draw PPP borrowing applications; (ii) PPP loan forgiveness applications; (iii) Employee Retention Credit qualification; and, (iv) Targeted EIDL Advance application preparation. Don’t hesitate to ask for assistance.

Visit here to learn more and make an appointment.

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