News

Resources to Help With Federal COVID-19 Emergency Loans

Share

Updates & New Information

Nonprofits are eligible for emergency federal loan funding in response to the COVID-19 crisis. Congress has provided more than $600 billion in two rounds for the Paycheck Protection Program (PPP), created by the CARES act passed in March.

The PPP loans were available on a first-come, first-served basis. They will be forgiven and turned into grants, under certain conditions, if the applicant maintains or rehires its staff. They are administered by the Small Business Administration.

Individual states, cities and philanthropic organizations also are offering emergency funding programs.

For the latest on the PPP loans process, click here for an application toolkit and updates from FMA, a financial services firm that works with nonprofits.

Forefront, an Illinois statewide association of nonprofits, foundations, and advisors, offers updates on the CARES Act and COVID policy and resources here.

Click here for an updated SBA frequently-asked-questions page. Click here for FMA guidance on certifying need.

Click here for an SBA website with information on PPP. Click here for a loan application form from the U.S. Treasury Department.

Click here for an SBA tool to search for a local lender who will process a loan application.

Congress also is providing assistance through the SBA’s Economic Injury Disaster Loans (EIDL) program. Information on that program is available at this SBA website. The U.S. Chamber of Commerce offers step-by-step advice here on how to apply for the EIDL loans.

Helpful Resources

Here is a list of additional resources to help you understand the programs and apply:

Independent Sector, a national organization of nonprofits, foundations and corporations, provides advice on how to apply for relief funds here. It includes a “chatbot” that answers questions and helps navigate the application process.

The Council on Foundations offers updates on the CARES act here, and a COVID-19 resource hub here.

The Jewish Federations of North America offers loan details and updates here.

The U.S. Chamber of Commerce offers another loan calculator tool here.

The National Council on Nonprofits provides a chart here detailing and comparing the three loan programs in the CARES legislation, including eligibility criteria, terms and application information.

The National Law Review provides a breakdown of the different elements in the CARES act here.

About The Joyce Foundation

Joyce is a nonpartisan, private foundation that invests in evidence-informed public policies and strategies to advance racial equity and economic mobility for the next generation in the Great Lakes region.

Related Content

News

The Joyce Foundation received the 2022 CGLR Great Lakes Changemaker Award

The Joyce Foundation received the 2022 Great Lakes Changemaker Award from the Council of the Great Lakes Region.

News

Joyce Foundation Statement on Supreme Court Ruling in West Virginia v. Environmental Protection Agency

The Supreme Court ruling in West Virginia v. EPA is a step backward in protecting the environment and public health. It limits the federal government’s ability to use the Clean Air Act to drive reductions in global warming pollution.

Research Report

Toward a Fair and Just Response to Gun Violence: Recommendations to Advance Policy, Practice and Research

Report with recommendations to advance policy, practice and research by a group of experts convened by the Joyce Foundation beginning in 2019 under the banner “Toward a Fair and Just Response to Gun Violence.”

News

Landmark Bipartisan Safer Communities Act to reduce gun violence

The Joyce Foundation applauds the bipartisan effort to pass the Safer Communities Act, which brings us closer to the safer America we all seek and deserve. 

News

The Foundation's statement on the Bruen case ruling

The Supreme Court’s ruling today in the Bruen case will make communities across America less safe. A large and growing body of evidence demonstrates that the mere presence of a firearm increases the risk of injury and death.

News

Checking the facts on “red flag laws”

The latest research into “red flag laws” and other gun safety measures was highlighted at a recent webinar series for journalists produced by the Poynter Institute for Media Studies and its PolitiFact fact-checking arm.

News

2022 Joyce Awards Announcement

Five innovative new projects by pioneering artists of color spanning the visual, performing, and multidisciplinary arts that engage diverse communities in Chicago, Detroit, Indianapolis, and Minneapolis-St. Paul will receive this year’s annual awards.

News

The “Full-Circle” Moment of Nick Cave and Forothermore

Recent work by Internationally acclaimed, Chicago-based artist and Joyce Awards winner Nick Cave.