April 27, 2020
As you may know, nonprofit organizations with 500 or fewer employees are eligible under the Small Business Administration’s Paycheck Protection Program (PPP) for potentially forgivable loans. The first round of PPP funding was exhausted quickly, but additional funding has been authorized and is now available. Funding in the current round will be limited. If you have not already completed a PPP application, your nonprofit can apply now through Florida Community Loan Fund.
We are pleased to announce that nonprofits can now apply for an SBA Paycheck Protection Program loan through Florida Community Loan Fund’s nonprofit SBA lending partner, Community Reinvestment Fund, USA (CRF). FCLF Staff is on hand and ready to answer your questions about the program and coach you through the process to ensure your application is complete. We are committed to making sure our Florida nonprofit organizations understand the requirements of the PPP and are ready to apply.
CRF is a fellow nonprofit CDFI (Community Development Financial Institution). This new partnership brings together FCLF’s knowledge and experience with lending to Florida nonprofits, and CRF’s experience as an SBA-qualified lender. We anticipate high demand, and we’re doing everything we can to be ready to respond. Important to note:
• You do not need to be an existing FCLF borrower to apply (spread the word!)
• Loan applications of any size are welcome
• We serve the entire state and our program is open to any nonprofit organization based in Florida
FCLF’s core purpose is to maximize opportunities for people and places outside the economic mainstream. Since our beginning FCLF has supported the nonprofit sector, and we are working with CRF to make sure that nonprofits can access this unique federal program. You can take the first step by clicking on this link to start your PPP application.
Thank you for all your work in and commitment to Florida’s communities.