CARES Act: How to Apply for Nonprofit Relief Funds
Independent Sector teamed up with Washington Council Ernst & Young, a DC-based lobbying firm with deep expertise in the nonprofit sector, and Sheppard Mullin, a national full-service law firm with a dedicated Nonprofit Team to provide a resource on how the CARES Act will apply to your nonprofit and how to move forward filing for assistance. Click here for more.
Paycheck Protection Program
The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses (including nonprofits!!) to pay their employees during the COVID-19 crisis. Applications are now closed for PPP, but information regarding the requirements for those who received a PPP loan is included below.
Click here for a PPP Borrower Information Sheet
Click here for a list of active SBA Lenders in Arizona
Free CARES Act Training from the Arizona Chamber of Commerce
The CARES Act Readiness Program for Small Businesses is a free training program that helps both novice and experienced borrowers navigate the CARES Act and get access to the capital they need to sustain their business.
The Arizona Small Business Association and Arizona Chamber of Commerce have joined forces to bring you the CARES Act Readiness Program for Small Businesses. This training program – which is offered at no cost to you – helps both novice and experienced borrowers successfully access relief funds. Click here to sign up.
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (S. 748) provides significant funding for businesses, hospitals, schools, and social support programs, among many other things. Click here to read an initial analysis of the nearly 900-page bill by the National Council of Nonprofits.
Loans for Nonprofits
Business Development Finance Corporation, a nonprofit SBA Certified Development Company, is offering affordable working capital loans for small businesses and nonprofits impacted by COVID-19 through its SBA Community Advantage Loan Program. Please contact BDFC at (520) 623-3377 ext. 128.
Community Investment Corporation (CIC) is offering loans through a nonprofit partnership with “enhanced community benefit” rates which can be as low as 1.5% depending upon qualification. Loan terms will be extended out to 5 years as needed. CIC will also be offering a loan product with interest-only payments for up to 6 months to allow small businesses to recover from the economic challenges caused by COVID-19. You can also contact Community Investment Corporation 520-529-1766 to learn more about their current loan offerings.
Growth Partners Arizona also offers affordable and flexible Nonprofit Loans . Traditionally, GPAz has supported 1) program expansion, 2) social enterprises, and 3) cash flow gaps while nonprofits await, for example: donations, membership/subscription fees, conclusion of major fundraising campaigns, grants or other reimbursements.
The CARES Act gives eligible nonprofits choices for securing cash needed to maintain staff and operations. Use this chart to decide which loan is right for your organization; this chart is regularly updated as resources become available so check back often.
Grant Opportunities through CFSA
The Community Foundation for Southern Arizona has established two funds to support our nonprofit partners during this difficult time. Please click here to learn more and apply.
CFSA’s COVID-19 Community Support Fund
The COVID-19 Community Support Fund provides flexible resources to southern Arizona nonprofit organizations that are serving individuals and families impacted by this outbreak. The COVID-19 crisis will be felt throughout our community for months to come and this fund offers long-term assistance to vulnerable populations disproportionately stressed by the outbreak.
Funds will be distributed to nonprofit organizations serving Arizona’s most vulnerable with a focus on providing basic human needs and access to healthcare to affected populations, including low-income individuals, residents without access to healthcare, older adults, health care workers, first responders, LGBTQ+ individuals, disabled residents and communities of color. Funds may be available for other populations and needs as they emerge.
Additional Grant Opportunities
- The Arizona COVID-19 Community Response Fund was established by the Arizona Community Foundation, in partnership with a growing list of local corporations and foundations, to support nonprofit organizations across the state as they respond to the impact of COVID-19 within our community.
- $5 Million in grants available to address children’s mental health and hunger through Cigna. Learn more here.