A Message from Mario: Some important (and urgent) advice

Dear APAP Members and Colleagues,

As we mentioned in yesterday's email, a pplications 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've gotten some important (and urgent) advice from our colleagues at 20 Degrees that we want to share with you.

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 potentially disadvantaged. 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.

Have your different scenarios ready for cost containment and new revenue generation. Here is the 20 Degrees Nonprofit COVID-19 toolkit that can help with that.

We encourage you visit APAP's COVID-19 government relief page to understand the different relief programs that are available and for which you are eligible. We will continue to update this page as we learn more.

We are with you every step of the way. Please don't hesitate to reach out to us.

Mario Garcia Durham

President and CEO, APAP