In just this past week, the Payment Protection Program (PPP) exhausted funding, the Economic Injury Loan program stopped accepting loan applications and a number of states extended stay at home orders. This volume of changes heightens the uncertainty and leaves us with so many unanswered questions. We want you to know we will continue to be here for your organization. We will continue to disseminate the most current information, answer questions, and be available as your advisors.
If you did not receive funds from the initial PPP allocation, now what? Additional funding is uncertain, but you can be ready by preparing now. Start by contacting your bank to determine if they are an approved participant. Secondly, use the initial information to prepare the calculated eligibility amount and assemble the required supporting documents.
Another important consideration is how you are communicating with donors or potential donors. This is a great time to remind them of the impact you have in the community and reiterate why supporting your continued operations is vital. You might also suggest they take advantage of the above the line tax deduction, or if possible sharing their economic stimulus funds. As part of our ongoing commitment we will continue to offer live webinars and recordings of those webinars.