Relief Funds

• All Together ATX – Austin Community Foundation & United Way for Greater Austin

• Funds for Coronavirus Relief Search by State (Candid) 

• Council on Foundations Relief Funds List 

• City of Austin Economic Injury Bridge Loans

CARES Act

March 20, 2020 – The U.S. Small Business Administration (SBA) has included the entire state of Texas in its Economic Injury Disaster Declaration and granted access to its Economic Injury Disaster Loan (EIDL) program, which will provide long-term, low-interest loans to qualifying businesses across the state. Go to U.S. Small Business Administration page to apply for assistance. 

• Source: National Council of Nonprofits

  • Recording of webinar: “Federal Coronavirus Relief Bills: What Do They Mean for Nonprofits?”

  • Slide deck from webinar: “Federal Coronavirus Relief Bills: What Do They Mean for Nonprofits?”

  • Analysis of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Pub. L. 116-136)

  • Chart: Loans Available for Nonprofits in the CARES Act
    

• Important Tips to Know about the CARES Act & Paycheck Protection Program

  • What we do know is the CARES Act will provide a forgivable loan called the Paycheck Protection Program 7(a). Highlights of this loan program include:

  • Loans to nonprofits with fewer than 500 employees in order to cover basic costs and keep staff employed through the crisis;

  • Loans can be applied to payroll, health benefits, paid sick and family leave, mortgage interest, rent, utilities and debt interest;

  • Loan amount is calculated by a formula based on the average total of monthly payroll in the prior year

  • Loans do NOT cover employees making over $100,000/yr, and with principal residences outside of the United States.

  • This loan will be eligible for “forgiveness,” essentially turning into grants if they are used for the purposes as outlined as long as certain other conditions regarding maintaining employment levels in accordance with the law are met.

  • A sample application is available on the Small Business Administration website.

  • Nonprofits should apply through their local bank.

  • Applications will start being accepted on a first-come, first-served basis starting Friday, April 3.
    

• Source: Jitasa Group COVID-19 Relief Resources

  • Resource page explains the federal programs and specifically how they apply to nonprofits.

  • This contains nonprofit specifics regarding the SBA Emergency Relief fund for nonprofits. https://www.jitasagroup.com/relief/sba/ (Their most developed resource currently.), will contain nonprofits specifics for the FFCRA (Families First Coronavirus Relief Act) and stimulus bill. 

  • Calendar link on each page, https://www.jitasagroup.com/relief/sba/, where nonprofits can sign up for individualized 15 and 30 minute sessions with their task force.  This can ideally be used for people who are already in the application process and want us to review their application or answer specific questions.  The webinar is more helpful as a general overview on the specifics of the various programs if you are debating whether or not to apply. 
    

• Additional Sources of Info & Guidelines for CARES Act Resources

  • Coronavirus Emergency Loans Small Business Guide and Checklist – U.S. Chamber of Commerce

  • CARES Act: How to Apply for Nonprofit Relief Funds – Independent Sector

  • Webinar Financial Relief in CARES Act: Overview for Human Services Organizations (loan programs & other sources of new funds). 

  • Paycheck Protection Program (Emergency SBA 7(a) Loans) Fact Sheet

Mission Capital has collected these resources as general information only. Entries on these pages do not indicate an endorsement or a relationship between Mission Capital and the service provider. Entries listed may not be up to date. Please contact service providers directly to learn more. If you provide a service, or know of a service, you would like to be considered as a resource here, please send an email to info@missioncapital.org.