SBA Loan Programs: What Nonprofits Need to Know Terri L. Billups - - PowerPoint PPT Presentation

▶

Nov 10, 2022 133 likes •222 views

SBA Loan Programs: What Nonprofits Need to Know Terri L. Billups Susheel Kumar Assistant District Director, Economic Development Public Information Officer, Office of Disaster Assistance LA District Office, U.S. Small Business Administration

SLIDE 1

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 Carter CalNonprofits Policy Director Jan Masaoka CalNonprofits CEO Terri L. Billups

Assistant District Director, Economic Development LA District Office, U.S. Small Business Administration

Susheel Kumar

Public Information Officer, Office of Disaster Assistance FOC-West, U.S. Small Business Administration

SLIDE 2

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 A Additional Resources

PPP Paycheck Protection Program / 7A loans EIDL Economic Injury Disaster Loans / Advance Program

SLIDE 3

Paycheck Protection Plan

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

SLIDE 4

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

Maximum Loan Amount : Statutory Maximum

f $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 years

Terms: 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. Treasury

Proceeds

SBA’s Economic Injury Disaster Loan Terms

Office of Disaster Assistance

SLIDE 5

Apply: www.covid19relief.sba.gov

NO Real estate collateral for under $500,000.00

Collateral

General UCC-1 filing on business assets

Collateral

$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

SLIDE 6

Additional Resources

General Information about COVID-19 Federal Loan Programs

U.S. Treasury Department:

https://home.treasury.gov/

U.S. Small Business Administration

https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources#section-header-0

National Council of Nonprofits – Loans Available through the CARES Act

https://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 Nonprofits

https://www.uschamberfoundation.org/sites/default/files/C3_COVID_EmergencyLoanGuide.pdf

Paycheck Protection Program (PPP) Information

General information

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp

PPP Application Form

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

Economic Injury Disaster Loan (EIDL) Advance Program Information

https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/economic-injury-disaster-loan-emergency-advance

These resources will be emailed to you later

SLIDE 7

We're glad you could join us today! For additional questions and concerns

n policies for nonprofits during the

COVID-19 crisis, please email us at COVID19@calnonprofits.org Thank you Susheel, Terri, and SBA! Jan Masaoka, CEO CalNonprofits Lucy Salcido Carter, Public Policy Director CalNonprofits