PPP update, including forgiveness application | Other resources for local nonprofits
Congress continues to try to address the sagging economy by adding to and modifying the CARES Act. A week ago, the House of Representatives passed the Paycheck Protection Program Flexibility Act nearly unanimously. It eases some of the restrictions imposed on PPP borrowers as they seek forgiveness for those loans by (a) extending the period during which funds must be used from 8 weeks to 24 weeks and (b) reducing the percentage that must be used on compensation from 75% to 60%. Senator McConnell announced on Monday that he is checking with colleagues to try to pass a similar bill as early as this week. Separately, the Treasury Department has issued additional rules on May 20 that clarify some of the vaguer forgiveness rules under the initial PPP act.
And just today, Mark Cuban and Teslar Software launched a free site for computing PPP loan forgiveness in an online form that can be printed and submitted to banks, at ppp.bank.
See our SBA resource page for links to articles that provide details on both the pending legislation, the most recent rule interpretations, and to the forgiveness application tool. New Facebook group for local BBB- Businesses and Charity Seal Holders The BBB serving Louisville, Southern Indiana, and Western Kentucky has a new Facebook group. The BBB invites local Accredited Businesses and Charity Seal Holders to use this page to learn from other professionals, ask questions, educate other companies/organizations on what you’re doing, tell others your adjusted hours and services, and share events/promotions/webinars. HHS National Domestic Violence Hotline The federal Department of Health and Human Services is seeking applications from nonprofits who want to operate a national domestic violence hotline to provide information and assistance to adult and youth victims of family violence, domestic violence, or dating violence; family and household members of such victims; and persons affected by the victimization. Details here. iHeartMedia Louisville offering in-kind media to nonprofits From now through July 31, iHeartMedia is accepting Requests for Proposals from nonprofits to become community partners in the coming year. iHeartMedia will grant $30,000 in in-kind media to 501(c)(3) organizations whose programs address adverse childhood experiences. Media recipients will create a three-month campaign based on their specific needs, ranging from seeking volunteers and raising visibility to increasing donations. Details here; RFP application here. Fee-paid CNPE training on grant writing Need to polish your grant-writing skills? Before CNPE started offering fee webinars featuring COVID-related topics in March, we had a range of in-person training sessions on a broad range of topics on our Events calendar. The next one, a three-hour Grant-Writing Boot Camp, has been split into two webinars – one on this Thursday, June 4 and one on Thursday, June 18. These two sessions constitute the second of three grant-writing boot camps, and some folks have already signed up for it. The fee is $55 for CNPE members and $75 for non-members, but scholarships are available (contact Merv Antonio) The links above have details. Check “The List”: CNPE continually curates its useful COVID-19 Nonprofit Resources List. You will want to check it for updates. New: “Resources for Reopening,” which compiles federal and state guidelines along with other timely resources like a link to office-space management software and a template letter to employees about face coverings. CNPE Self-Care Tip of the Day: Anxiety is a normal reaction to the uncertainty that lies ahead. But staying anxious is hard on both your mind and your body. One way to reduce anxiety is to breathe better – to get more oxygen in and more carbon dioxide out. This article from healthline.com offers eight breathing techniques to reduce anxiety; one may be right for you today. Hang in there. CNPE has your back. I hope that we all emerge from these trying times with the resources we need and stronger sense of belonging to an essential sector of our economy.