CARES ACT: Financial Relief For Nonprofit Organizations

By Nicole Stezar Kaylor and Alexandra Snell, McNees Wallace & Nurick LLC

As employers continue to navigate the uncertainty of COVID-19’s financial impact on their organizations, many eligible business owners are taking advantage of emergency loan opportunities made available by the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). We previously published summary guidance on the Paycheck Protection Program and Disaster Relief Loans which can be found here. Specifically, this article highlights: (i) the loan opportunities available under the CARES Act for nonprofit organizations, (ii) specific guidance on the Small Business Administration’s (the “SBA”) affiliation . . .