Payroll Protection Program (PPP) Reopens TODAY
The competitive Paycheck Protection Program has reopened today as of 9:30 a.m. Central Time. Learn about the program and application process at the SBA's Payroll Protection Program webpage. You must apply through an approved Illinois lender. Here is a list of approved lenders in Illinois as of March 2020, provided by the SBA. If you do not have a relationship with a local approved lender, Illinois nonprofits may also apply through IFF.
If you are unfamiliar with the PPP, watch this short webinar by BMWL, Cares Act Overview for Nonprofits and review their handout summarizing the CARES Act as it pertains to nonprofit organizations.
Here is the Application Form for the PPP to help you prepare and gather necessary information. This helpful article has a calculator to help you determine the maximum amount you could apply for under the PPP.