Nonprofits in Financial Distress: Coronavirus-Relief Loans Might Help
The Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) which was signed into law on March 27, 2020, allocated a record $2 trillion in various forms of relief to businesses, individuals, various government agencies, and yes, nonprofit organizations. The idea is to smooth the financial disruption caused by the COVID-19 pandemic. Specifically what’s in it that can help nonprofits in financial trouble? In brief, you might be able to access loans to: Help meeting payroll, rent, mortgage, or…