Coronavirus Emergency Loans Guide and Checklist for Small Businesses and Nonprofits
01/14/2021 Paycheck Protection Program 2.0: Everything Associations and Other Nonprofts Need to Know - Powerpoint
Jeffrey S. Tenenbaum, Esq., Managing Partner Nisha G. Thakker, Esq., Counsel Tenenbaum Law Group PLLC Washington, DC (Webinar-January 27)
12/21/2020 ASAE Action Alert: PPP expansion is in Jeopardy
07/10/2020 ASAE: New Covid Relief Legislation
04/21//2020 ASAE: Association Advocacy in COVID-19: The CARES Act and Future Legistlation - SLIDE DECK
Coronavirus Aid, Relief and Economic Security (CARES) Act
The Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL) were passed as part of the CARES Act. President Trump signed these loans and grant programs, which amounted to $360 billion and were part of the $2.2 trillion CARES Act on March 27.
The Paycheck Protection Program (PPP), which enables businesses to obtain up to $10 million in loans that are 100 percent forgivable if they do not lay off any employees or if they rehire employees they’ve already laid off. These loans are through your lender and the application can be found HERE.
Employee Retention Tax Credit, is designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19, with an employee retention tax credit (Employee Retention Credit).
Economic Injury Disaster Loan & Grant (EIDL), which includes a $10,000 grant that businesses can apply for and which they do not need to pay back. The rest of the EIDL loan, which caps out at $2 million, is not forgivable but can be more flexible than PPP in the types of expenses it covers. These loans are through the Small Business Administration and the application can be found HERE.