Staying Afloat: What You Need To Know

Your Part-Time Controller, LLC is dedicated to providing up-to-date information and resources that will help nonprofits stay financially afloat through these times of uncertainty caused by Coronavirus. Follow the links below to access information that could help you.

Staying Afloat: Completing the Paycheck Protection Program (PPP) Loan Forgiveness Application

The long awaited Paycheck Protection Program Loan Forgiveness Application and Calculation Form was issued late on Friday May 15 by the Small Business Administration (SBA).
On Thursday, May 21 at 1pm EDT, YPTC presented our fourth webinar in our Staying Afloat series: Completing the Paycheck Protection Program (PPP) Loan Forgiveness Application.

 

Topics Covered:

• Calculating and estimating PPP loan forgiveness based on the SBA Guidance issued Friday, May 15
• Supporting documentation a borrower should maintain to support loan forgiveness calculations

Updated 5/21/2020

Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020 provides opportunities for financial relief for nonprofits in many ways. Two of the most significant are loans available under the Economic Injury Disaster Loan (EIDL) and the Paycheck Protection Program Loan (PPPL) programs. Under the EIDL program, applicants can request an emergency grant advance up to $10K.  And, PPP loans have the capability to be wholly or partially forgiven.  Visit the Small Business Administration (SBA) for additional information or click on the links below.

IMPORTANT

The CARES Act provided millions of dollars in additional grant appropriations. Nonprofits can go to grants.gov to search for the latest grants postings. Time is of the essence- many of these close before the end of April!

Economic Injury Disaster Loan (EIDL) and $10,000 Emergency Advance Application

Economic Injury Disaster Loan (EIDL) and $10,000 Emergency Advance Application

Paycheck Protection Program Loan (PPPL)

Treasury.gov

Find a Lender

Borrower Application Form

Interim Final Rule

FAQs for Faith Based Organizations

SBA: Paycheck Protection Program Loans Frequestly Asked Questions

YPTC Resources

Access our webinar materials:

5/21/2020 Staying Afloat: Completing the PPP Loan Forgiveness Application for Nonprofit Organizations

5/1/2020 Staying Afloat: PPP Loan Forgiveness, Accounting, Tracking & Reporting 

4/29/2020 QuickBooks + Network For Good 101: How to Convert from Desktop to Online

YPTC: CARES Act Updates as of 4/24/2020

Kerri Padgett, YPTC National Training Director is interviewed by MPT News!

Catch YPTC Managing Partner Jennifer Alleva on The American Nonprofit Academy’s The Corona Chronicles

View the April 17th webinar recording – Staying Afloat: Financial Scenario Planning During a Crisis.

Download the April 17th webinar slides – Staying Afloat: Financial Scenario Planning During a Crisis.

Download our latest whitepaper: COVID-19 Legislation and Nonprofit Funding Opportunities

View the recording and materials from our 4/10 webinar in partnership with Network For Good- The CARES Act: What Every Nonprofit Should Know

View the recording of our 4/3 webinar, Staying Afloat**

4/3/2020- Staying Afloat: Webinar Slides

4/3/2020- Staying Afloat: Webinar Recording

**Please note- the webinar presentation was based on information released prior to April 3, 2020. Since then, some information may have changed.

Blog Post: Staying Afloat – Updated April 7, 2020

Blog Post: Covid Resources – Updated April 3, 2020

National Council of Nonprofits COVID-19 Resources

Network For Good COVID-19 Resources

Would you mind taking a brief survey to share your experiences in applying for PPPL and EIDL?

 

 

 

 

 

Disclaimer: Every situation and every nonprofit are different. The materials provided are not a substitute for accounting, consulting, financial or legal advice, but are for educational purposes only and should not be relied on. If you have any specific questions or want any further guidance, please reach out to your accountant, financial advisor, banker, or attorney for more information. YPTC does not accept responsibility for the accuracy of the information, nor any interpretation or application by the reader of the information contained herein.

Access our Staying Afloat Resources Page & View Our On-Demand Webinars!