(Article by Tony Gorman from Delaware Public Media) Delaware nonprofits that recently missed out on federal COVID-19 relief are getting a second shot. The Delaware Alliance for Nonprofit Advancement said most fell down the application pecking order during the first round of SBA Paycheck Protection program funding.
DANA CEO Shelia Bravo said the National Development Council is providing assistance in preparation for the second phase.
“We wanted to get the news out in advance so that nonprofits can really make sure they have all paperwork together. My understanding is that that was some of the challenge last time. That’s what really slowed things down for their applications," Bravo said. "So, if they’re cued up and they’ve got everything ready, then when the applications are available to apply through NDC, they will be ready to go.”
Bravo said many organizations ran into problems applying during the first round of funding.
“I’m hopeful that the banks have a lot of applications ready. I’m sure. So, they will also be submitting them. So, we do encourage if your applications will be submitted with a bank and you’re understanding that you’re really far down on the waitlist, sort of speak, that you can also apply through NDC,” Bravo said.
The Paycheck Protection Program will relaunch once Congress finishes approving another $310 billion in funding. That includes $60 billion earmarked for small lenders and community-based financial institutions to assist underserved small businesses and nonprofits.
PPP loans have been popular among small businesses during the pandemic. They can turn into grants if properly used. The program’s initial $349 billion dried up last week. SBA reported just over 5,000 loans and counting were approved in Delaware totaling a little more than a billion dollars before that happened.
First State nonprofits are expected to receive $12 million in round two. Those needing assistance with an application are encouraged to visit the National Development Council’s website.
Click here for more information.