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This interim guidance is intended for administrators and leaders of CFBOs – congregations and places of worship, voluntary social service agencies and other nonprofit organizations, and community organizations. This guidance is intended to help CFBOs prevent the transmission of COVID-19 within their facilities and communities. CFBOs need to be able to react quickly if there is a confirmed COVID-19 case among staff, volunteers, the people they serve, or visitors. The guidance includes considerations to help administrators and leaders plan for the continuity of services depending on level of community spread of COVID-19.
This program is for any small business with less than 500 employees (including sole proprietorships, independent contractors and self-employed person), private non-profit organization or 501(c)(19) veterans organizations affected by COVID-19.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance
The Families First Coronavirus Response Act imposes new job protections for workers, paid leave mandates on employers, and a generous reimbursement scheme for employers that are designed to hold nonprofit and for-profit employers..
https://www.councilofnonprofits.org/trends-policy-issues/what-the-families-first-coronavirus-response-act-means-nonprofits
SBA EIDL loans are low-interest loans provided through the SBA disaster loan program to help businesses and homeowners recover from declared disasters. The CARES Act expands eligibility for access to EIDL loans and provides upfront grants.
Allows employers to defer payment of the employer share of Social Security taxes, 6.2% on employee wages.
Provides a refundable payroll tax credit for 50% of wages paid by employers to employees during the COVID-19 crisis.
The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest or utilities.
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program
If you need help applying for the Paycheck Protection Program Loan, the links below will provide additional guidance:
https://communityworkscarolina.org/covid-19-resources/
Provides up to $454 billion (of the $500 billion total fund) in financial assistance to businesses, including nonprofits.
https://www.federalreserve.gov/newsevents/pressreleases/monetary20200409a.htm
SC Community Loan Fund created a working capital program to help alleviate some of the financial strain created by this uncertain time. For more information please click the link below to complete a screening questionnaire and inquiry form:
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