Loan Program for Non-Profit Payroll During COVID19

Friday, April 3rd, is the opening of the Small Business Administrationopens a new window’s (SBA) Paycheck Protection Program. These loans cover expenses incurred from February 15th, 2020 to June 30th, 2020. Additionally, this loan program offers a 74% forgiveness of the loan so long as funds are used for payroll and employees are kept over a specific time period ending June 30th, 2020. 

This is the first-time non-profits can also get involved in this type of economic tool.

You can download a sample application hereopens a new window as well as look for full information with the SBAopens a new window.

As always, you can contact ASK KCLSopens a new window for reference questions around this and other economic tools. You can also call KCLS at (425) 462-9600 or (800) 462-9600 (in Washington State) Monday - Sunday 12pm - 5pm.