Paycheck Protection Program Update – Exclusive Application Period Announced For Small Non-Profits
The Small Business Administration (SBA) has announced an exclusive application window of 14 days for small non-profits with less than 20 employees. Upgrades to the pool of funding available include:
-For businesses with fewer than ten employees, the share of funding is up nearly 60%
-For businesses in rural communities, the share of funding is up nearly 30%
-The share of funding distributed through Community Development Financial Institutions and Minority Depository Institutions is up more than 40%
The application period was effective February 24th and runs through March 10th.
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