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Navigating the CARES Act + Small Business Administration Loans during COVID-19

Federal Grant Opportunities
The CARES Act includes appropriations for Federal Grants – and your organization may be eligible!

Byrne Pelofsky is uniquely positioned to work with your organization to apply for federal grants. Our grant writing team has secured millions of dollars in federal funds for our clients, and is well placed to navigate the complex world of the public sector. As an organization invests critical resources in the pursuit of federal funds, working with a professional with a deep understanding of the priorities and deliverables of various federal departments, is a critical asset. The support of an entire team with federal grant writing expertise can mean the difference between “scored well but unfunded” and a successful award that saves critically needed programs.

The CARES Act includes appropriations for federal grants to the following agencies:

  • Labor, Health and Human Services, Education
  • Agriculture, Rural Development, FDA
  • Commerce, Justice, Science, National Science Foundation
  • Department of Homeland Security
  • Interior, Environment
  • Military Construction, Veteran Affairs
  • Department of Housing and Urban Development

If you are interested in determining your agency’s eligibility for one of these grants or partnering with Byrne Pelofsky to apply for a federal grant, please Click Here to contact Suzanne Dicken, Vice President of Strategic Development.

SBA Loans: Economic Injury Disaster Loans (EIDL)
Working capital loans to help you meet financial obligations that cannot be met due to the disaster.

  • Private nonprofits are eligible (excluding religious institutions)2.75% interest rate for nonprofits
  • Loans up to $2 million available
  • IMPORTANT: Advances of $10,000 are paid to you, the agency, within 3 days! This $10,000 advance will be forgiven even if the borrower is denied the EIDL. Essentially, this is a $10,000 grant.
  • DEADLINE TO APPLY: December 21, 2020

SBA Loans: Paycheck Protection Program (PPP)
Unique emergency loan program intended to pay staff and operating costs for two months, and secure full loan forgiveness under certain circumstances.

  • For nonprofits with 500 or fewer employees
  • Loans can be up to 2.5 x the borrower’s average monthly payroll costs, not to exceed $10 million
  • Borrowers are eligible to have their loans forgiven
  • The amount of loan forgiveness can be reduced if there is a reduction in the number of employees or a reduction of greater than 25% in wages paid to employees
  • IMPORTANT DATES: April 3, 2020: small businesses and nonprofits may begin applying; April 10 2020: independent contractors and self employed individuals may begin applying; June 30, 2020: PPP application and required documentation must be processed by an approved lender by this date

Byrne Pelofsky is offering free, 15-minute consultations on how to navigate the SBA Loan (EIDL + PPP) application process. To schedule your consultation, please Click Here to contact Suzanne Dicken, Vice President of Strategic Development.

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