On April 3, 2020 the Nonprofit Center of Northeast Florida hosted our third COVID-19 weekly wrap-up featuring experts in human resources and SBA loans. Each week we promise to bring you the most update information available about various relief options. The speakers today included experts on workforce management and Paycheck Protection Program loan options.
Our featured Human Resources expert was Lisa Wright Ponce of Nonprofit HR. Our featured SBA loan experts were Tyrus Sanders, Regions Bank SBA Director/EVP, and our sector’s own Kimberly Hyatt, CEO of the Cathedral Arts Project and recent PPP loan applicant. View the full call recording here. View the slides here. All previous calls are archived on our COVID-19 page.
Lisa covered several aspects of workforce planning and offered an additional free resource for those who are seeking more information about furloughs and layoffs.
Tyrus and Kimberly discussed various aspects of the PPP loan process. As both Tyrus and Kimberly mentioned, there are several factors to consider when choosing whether or not to apply for one of the loans including intent, eligibility, risk assessment, Board approval, and terms of the loan.
Additional PPP Resources and Guidance:
- Consult your Board now! Seek Executive Committee input to be formalized at your next meeting. The SBA and your lender will ask for proof of Board approval as part of your application package.
- All loans must be processed through an SBA-approved lender, and all applications must be submitted directly to your lender. The SBA is not accepting PPP loan applications directly from the general public. You can see a list of SBA lenders in NE Florida here.
- Gather the information and documentation you’ll need to apply. Visit the SBA PPP webpage for updated treasury guidance and a sample application.