Resources for Non-Profits
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses and nonprofits stay afloat amid the pandemic and economic downturn.
The Small Business Administration resumed accepting Paycheck Protection Program (PPP) applications on Monday, April 27 at 10:30AM EDT (6:30AM AKST) from approved lenders on behalf of any eligible borrower. Loan applications already submitted will continue to be processed on a first-come, first-served basis.
Visit the Alaska Small Business Development Center’s PPP section on their COVID-19 Resource Page for more information.
We encourage small business owners to prepare the documents they will need to access these federal relief programs, reduce operating costs, and take advantage of any existing financial programs they qualify for.
PAYCHECK PROTECTION PROGRAM
Provides non-profits with zero-fee, forgivable loans of up to $10 million to cover payroll and other operating expenses. Non-profits can apply for loans to pay for payroll, rent, mortgage interest, or utilities, and if used for those purposes, loans will be forgiven. This means non-profits can keep employees on staff and pay rent without taking on further debt.
ECONOMIC INJURY DISASTER LOAN AND DISASTER LOAN ADVANCE
Loans up to $2 million for small businesses with less than 500 employees (including sole proprietorships, independent contractors and self-employed persons). In addition to the loan, applicants can receive $1,000/employee for a maximum of $10,000 cash advance that does not need to be repaid, regardless of whether the applicant is approved for the loan itself.
The SBA is now accepting new Economic Injury Disaster Loan (EIDL) applications from eligible U.S. agricultural businesses with 500 or fewer employees. Eligible agricultural businesses may apply for the SBA EIDL and Emergency Advance here.
Applicants who have already submitted will continue to be processed on a first-come, first-served basis. To follow-up on an application, connect with the SBA Disaster Assistance Customer Service Center directly at 1-800-659-2955 (TTY: 1-800-877-8339) or by e-mail at firstname.lastname@example.org.
The Small Business Development Center is holding daily briefings M-F at 2PM with their business advisors to answer questions about this or other aid programs
COVID-19 EMERGENCY RELIEF GRANTS
As Alaska’s state humanities council, the Alaska Humanities Forum is responsible for the distribution and administration of funds allocated to the National Endowment for the Humanities (NEH) as part of the CARES Act.
NON-PROFIT RESOURCES VIA THE FORAKER GROUP
Our partners at the Foraker Group have assembled a number of resources to assist Anchorage nonprofits, including:
- Human Resources
- Budget & Finances
- Local Funds
- Public Policy
- Working Remotely