Paycheck Protection Program Update – Exclusive Application Period Announced For Small Non-Profits
The Small Business Administration (SBA) has announced an exclusive application window of 14 days for small non-profits with less than 20 employees. Upgrades to the pool of funding available include:
-For businesses with fewer than ten employees, the share of funding is up nearly 60%
-For businesses in rural communities, the share of funding is up nearly 30%
-The share of funding distributed through Community Development Financial Institutions and Minority Depository Institutions is up more than 40%
The application period was effective February 24th and runs through March 10th. For more information on updates to the program and links to the first and second draw applications here, click here.
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