Information about the SBA Loan in the CARES Act
Knowledge Topics
Finance & Budget, School Policies and Procedures
Date
Network to Learn
Catalyzing Resources
The $2 Trillion CARES (Coronavirus Aid, Relief, and Economic Security ) Act passed last week by the US Congress includes nearly $350 Million for small businesses and non profits. The Paycheck Protection Program will lend nonprofts funds to cover payroll and other costs. Many will qualify for the loans to be forgiven.
The Jewish Federations of North America is providing information on how to apply for these funds and providing guidance for Jewish day schools and other Jewish non profits. More Information
- Application opens April 3, 2020
- Pay check protection program, information from the Small Business Administration
- Pay check protection program information sheet
- Sample loan forgiveness calculations from JFNA
- Sample application
- National listing of banks offering SBA loans by state
- Sample letter to the board to communicate quickly about approval to apply .for loan
- FAQ about the Paycheck Protection Program from JFNA
- Banks that have indicated a willingness to file applications on behalf of Jewish day schools
- Webinar video and slide deck for a Q&A on the SBA loan dated 4/3/20
- FAQ regarding participation of faith-based organizations in the PPP from the SBA
