As we highlighted in Friday’s eNews, the federal government has just passed major legislation aimed at injecting massive amounts of money into our economy to soften the blow of the COVID‑19 pandemic’s social and economic dislocation. For our members, one of the most salient developments is the possibility of quick access to money through the Small Business Administration: large loans, expedited loans, forgivable loans, and Economic Injury Disaster Loans.
Under the best of circumstances, the Small Business Administration can be a formidable federal agency to navigate. But with all these new loan/grant options, CNPE is getting out front to help you leverage these opportunities. In the coming days, you will see us offer resources to help you sift these options, pick the optimal one(s), and apply for loans that could help you avoid your worst-case scenarios.
Related CEO Roundtable: We have made this topic the focus of our next COVID-19 CEO Roundtable, “Nonprofits and the CARES Act.” Our presenter, Becky Phillips, CPA, CFF, CFE, heads MCM CPAs & Advisors Not-for-Profit Service Team – and serves on CNPE’s board. The webinar will take place on Wednesday, April 1, from 9 to 10:15 AM.
These roundtables are for nonprofit CEOs, Executive Directors, and board chairs. (Leaders are welcome to invite their senior staff to join) If you are one, you can register here.