Jeff joins host Steve Boland to discuss the federal government response to the Coronavirus economic impact, and in particular the relief programs funded in the CARES Act: The Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program. Nonprofits organizations are eligible to apply in both programs, and Jeff discusses what we know of the programs so far, and what nonprofits should consider in applying for these loans, what is forgivable (essentially converting to grants) and what needs to be repaid. As of this recording (April 21, 2020) additional funding was still pending in the Congress, but PPP funds had already been oversubscribed.
The Community Justice Clinic has resources available, as does the National Council of Nonprofits. All charities are urged to stay in contact with their representation in Congress, telling them how relief efforts to date are impacting your mission.