SBA Loan Programs: What Nonprofits Need to Know

Audio: use your device speakers or call: 669 900-6833 enter webinar ID: 738 639 995

Lucy Salcido CarterCalNonprofits Policy Director

Jan MasaokaCalNonprofits CEO

Terri L. BillupsAssistant District Director, Economic Development

LA District Office, U.S. Small Business Administration

Susheel KumarPublic Information Officer, Office of Disaster Assistance

FOC-West, U.S. Small Business Administration

SBA Loan Programs

For each program:• What benefits does it provide?• Who is eligible?• How do nonprofits apply?• What information does the application require?

Q and AAdditional Resources

PPPPaycheck Protection

Program /7A loans

EIDLEconomic Injury Disaster Loans /

Advance Program

Paycheck Protection Plan

Source: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources

• Personal Guarantees : • Under $200,000.00 None required• Over $200,000.00 Required

Maximum Loan Amount : Statutory Maximum of $2 million.

• 3.75 percent for small businesses and • 2.75 percent for nonprofit organizations Fixed interest rates for this disaster are

• Maximum amortization for 30 yearsTerms: with terms up to 30 years.

• To check size standards, visit https://www.sba.gov/document/support--table-size-standards.

Eligibility for these working capital loans are based on the definition of size (must be a small business) and type of business & it’s financial

resources.

• Funding Directly from the U.S. TreasuryProceeds

SBA’s Economic Injury Disaster Loan Terms

Office of Disaster Assistance

Apply: www.covid19relief.sba.gov

•NO Real estate collateral for under $500,000.00Collateral

•General UCC-1 filing on business assetsCollateral

• $100 UCC -1 fees There is No cost to apply,

NO points, NO Closing Costs, NO Prepayment Penalty

1st payment due in 12 months.

There is no obligation to take the loan if offered.

Applicants can have an existing SBA Disaster Loan and still qualify for an EIDL for this disaster, but the loans

cannot be consolidated.

SBA’s Working Capital Loans

Additional ResourcesGeneral Information about COVID-19 Federal Loan Programs U.S. Treasury Department: https://home.treasury.gov/

U.S. Small Business Administrationhttps://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-0

National Council of Nonprofits – Loans Available through the CARES Acthttps://www.councilofnonprofits.org/sites/default/files/documents/cares-act-loan-options-for-nonprofits.pdf

US Chamber of Commerce – Coronavirus Emergency Loans Guide for Small Businesses and Nonprofitshttps://www.uschamberfoundation.org/sites/default/files/C3_COVID_EmergencyLoanGuide.pdf

Paycheck Protection Program (PPP) InformationGeneral informationhttps://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

PPP Application Formhttps://www.sba.gov/sites/default/files/2020-04/PPP%20Borrower%20Application%20Form.pdf

Economic Injury Disaster Loan (EIDL) Advance Program Informationhttps://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance

These resources will be emailed to you later

We're glad you could join us today! For additional questions and concerns on policies for nonprofits during the COVID-19 crisis, please email us at

COVID19@calnonprofits.org

Thank you Susheel, Terri, and SBA!

Jan Masaoka, CEOCalNonprofits

Lucy Salcido Carter, Public Policy Director

CalNonprofits