Nonprofit Loans & More

Everything you need to know to access the funds




Small Business Loans Now Available for Your Nonprofit

The application process is now open.

Use this guide to support your efforts.

What is this all about?

  • The CARES Act allocated $349 billion in funding to help keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small business & nonprofits.
  • The loans can be used for operational costs, including:
    • payroll expenses
    • health benefits, paid, sick, medical/family leave and insurance premiums
    • mortgage interest
    • rent payments
    • interest on debt incurred before the covered period
  • Organizations may qualify to have a portion of their loan forgiven if they meet certain requirements.
  • Check out the bottom of this page for additional resources.

Who can access the funding?

  • While there are some exclusions in the bill, most Jewish nonprofit organizations with 500 or fewer employees — Federations, JCCs, synagogues, schools, human services organizations, Jewish summer camps, Hillels, youth organizations, engagement organizations and others can get the necessary funds to help them through the critical months ahead and keep their organization running.
  • Borrowers must also maintain an average monthly number of full-time equivalent employees that is not less than the average number during the periods described in the loan maximum section above.

How much can I receive?

  • The maximum loan amount that businesses can apply for is 2.5 times the average total monthly payroll costs incurred in the one year period before the loan is made, or $10 million – whichever is smaller.
  • In evaluating eligibility, lenders are directed to consider whether the borrower was in operation before February 15, 2020, and had employees for whom they paid salaries and payroll taxes or paid independent contractors. They will also ask:
    • If the uncertainty of current economic conditions makes the loan request necessary to support ongoing operations.
    • If the borrower will use the loan proceeds to retain workers and maintain payroll of make mortgage, lease and utility payments.
    • That the borrower does not have an application pending for a loan duplicative of the purpose and amount applied for here.
  • As part of your application, you need to certify in good faith that:
    • Current economic uncertainty makes the loan necessary to support your ongoing operations.
    • The funds will be used to retain workers and maintain payroll or to make mortgage, lease, and utility payments.
    • You have not and will not receive another loan under this program.
    • You will provide to the lender documentation that verifies the number of full-time equivalent employees on payroll and the dollar amounts of payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities for the eight weeks after getting this loan.
    • Loan forgiveness will be provided for the sum of documented payroll costs, covered mortgage interest payments, covered rent payments, and covered utilities. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.
    • All the information you provided in your application and in all supporting documents and forms is true and accurate. Knowingly making a false statement to get a loan under this program is punishable by law.
    • You acknowledge that the lender will calculate the eligible loan amount using the tax documents you submitted. You affirm that the tax documents are identical to those you submitted to the IRS. And you also understand, acknowledge, and agree that the lender can share the tax information with the SBA’s authorized representatives, including authorized representatives of the SBA Office of Inspector General, for the purpose of compliance with SBA Loan Program Requirements and all SBA reviews.

When can I access these loans?

  • The "covered period" of the loan is:
    • February 15, 2020 to June 30, 2020 
  • You can get in touch with your local lender now to get yourself ready for when everything launches. It’s very likely that the bank that you do business with may have an SBA loan officer.

Where do I go next?

Last Updated: May 27, 2020