Nonprofit entities, including religious organizations and veteran organizations, suffering from the impact of the COVID-19 crisis, are eligible to apply for financial assistance in the form of Coronavirus Aid, Relief, and Economic Security Act (“CARES”) Paycheck Protection Program loans and SBA Economic Injury Disaster loans. In addition to these loan programs, CARES has deemed nonprofit entities eligible to defer payment of its share of social security taxes and possibly receive an employee-retention tax credit. Moreover, CARES expanded unemployment benefits to employees of nonprofit and religious organizations that were laid off as a result of the COVID-19 crisis.
If your nonprofit or religious organization has questions about CARES or needs assistance in considering and/or applying for these loan programs and/or other relief efforts, Rosenn Jenkins & Greenwald LLP is available to promptly assist you. Please contact Paul T. Rushton (firstname.lastname@example.org), Lee S. Piatt (email@example.com) or Christyan Telech (firstname.lastname@example.org) of our Business & Finance Department to discuss the available options.