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Important CARES Act updates for nonprofit organizations

April 17, 2020

Enacted late last month, the CARES Act COVID-19 relief bill includes emergency support for individuals, businesses, public health organizations and nonprofits. The Paycheck Protection Program (PPP) created through the CARES Act included up to $349 billion in potentially forgivable loans to eligible small businesses and nonprofits to pay their employees during the COVID-19 crisis. Just this week, the Small Business Administration announced that PPP funding had been depleted as organizations across the country applied for loans.