Learn about the latest information nonprofits need to know regarding the Paycheck Protection Program (PPP) and how to apply for PPP as a first time or second time borrower.
Join the National Partnership for New Americans (NPNA) and Self-Help Federal Credit Union (SHFCU) for an upcoming webinar, Thursday, April 22nd at 12pm CT. Through our partnership with Cook County Recovery Initiative we are committed to bringing you the latest information nonprofits need to know regarding the Paycheck Protection Program (PPP). We will cover the latest PPP updates for non-profits and how you can apply for PPP as first time or second time borrowers. Our experts will be ready to answer any questions. REGISTER HERE
PPP continues to be open for first time loan applicants and allows some businesses to apply for a second loan if they meet the following qualifications:
- Current economic uncertainty makes the PPP loan necessary to support ongoing operations
- The loan you request is $2 million or less
- The business has 300 or fewer employees
- The business used or will use the full amount of their first PPP loan
- The business can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019
- PPP 2nd Round applications can be found here.
Applications for a first or second Paycheck Protection Program (PPP) loan have been extended until May 31st, 2021. Applications will be accepted until May 31st or until funds in the program have been depleted. The SBA will continue to post updated information around guidance and eligibility here.
NPNA also created PPP 2nd Round Infographics in English here and Spanish here and you can watch the Paycheck Protection Program Round 2: Updates for Non-Profit Organizations & Small Business Borrowers: Here