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Applications are now being accepted for the many forms of relief associated with the historic $2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) that was signed into law on March 27, 2020 and other federal relief programs.

We would like to share some important (and urgent) advice from 20 Degrees:

• Time is of the essence to prepare and submit your application for the SBA Paycheck Protection COVID-19 relief loan program, as these dollars will go quickly and nonprofits are eligible but the competition for these funds will be fierce. Getting your application in as early as possible is one of the best things you can do.
  
  
• Small businesses and sole proprietorships can begin applying for loans on April 3, 2020. 
  
  
• Independent contractors and those who are self-employed can begin applying on April 10, 2020.
  
  
• Talk to a lender who already knows you. They need to be approved to do 7a loans in order to process this loan. Here is a list of the top most active 100 SBA lenders. As you are applying for these new loans, be sure to read current loan documents and keep in touch with current lenders.
  
  
• Need guidance on small business relief, including applying for SBA loans? This is a very useful article.
  
  
• Here is the 20 Degrees Nonprofit COVID-19 toolkit that can help with scenario planning.
  
  
• This Small Business Owner’s Guide to the CARES Act from the US Senate may answer many questions.
  
  
• The US Chamber of Commerce has also posted a Coronavirus Emergency Loans/Small Business Guide and Checklist.

We encourage you visit TCG’s COVID-19 Prepare, Mitigate, Recover Circle Group page to understand the different relief programs that are available and for which you are eligible. The Circle Group Library has some amazing resources. And, you can continue to find Advocacy Updates on this Blog Page. We will continue to update the Circle as we learn more.