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Coronavirus Aid, Relief, and Economic Security (CARES) Act Signed into Law
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on Friday, March 27, 2020, by President Trump and outlines a number of programs that charitable nonprofits will be eligible to apply for. 

Our team is working through the Act to decipher the specific implications this legislation will have on local nonprofit organizations and will release additional information as soon as possible to help you navigate this economic stimulus bill. Additionally, the National Council of Nonprofits has begun compiling a chart that outlines the loan options available to nonprofit organizations through the CARES Act.
CARES Act Nonprofit Loans:
Minnesota Disaster Recovery Fund (MDRF)
The Minnesota Council on Foundations and Saint Paul & Minnesota Foundation convened to discuss the impact of a potential coronavirus (COVID-19) outbreak in the state of Minnesota. 

The outcome of the discussion led to the inception of the Minnesota Disaster Recovery Fund (MDRF) for coronavirus, which was created to support community needs as a direct result of the coronavirus pandemic. 

About the MDRF:
Funds both short and long-term needs that arise within communities due to coronavirus or future disasters that occur within the state of Minnesota. Funds will be raised through philanthropic entities.
Learn More:
Minnesota Council for Nonprofits offers their Special Edition Grants Directory
The MCN has made its Special Edition Grants Directory – which is an evolving list of funding opportunities for nonprofits – available digitally and for free. Those nonprofits looking for grants to support them during these challenging times are encouraged to visit www.minnesotanonprofits.org for more information or click here for the Minnesota Grants Directory 2020 (remember to visit their website occasionally as they continue to update the list).
WEBINAR: Grantmaking in Response to the Coronavirus
Recorded March 23, 2020
Recorded by: Minnesota Council on Foundations and Minnesota Council for Nonprofits
  • This webinar shares four new special response funds specifically meant for community recovery (MN Disaster Recovery Fund, Otto Bremmer Trust Fund, Headwaters Foundation for Justice, and Minneapolis Foundation – OneMPLS Fund) 
  • Entities that will be recipients are Community Foundations, Minnesota Imitative Foundations, and other intermediaries that have existing grant-making or fund distribution processes that could redistribute funds quickly to nonprofits, small businesses, individuals and families.
  • Nonprofit organizations are encouraged to reach out to intermediaries who are serving your community and ask them to apply. 
For optimal experience, please view the webinar in Google Chrome
The Small Business Administration (SBA) Disaster Assistance Loans are available to nonprofit organizations suffering negative economic conditions as a result of the Coronavirus (COVID-19).  
  • Federal Disaster Loans are offered at up to $2 million at a low-interest rate of 2.75% may be used to pay interest expenses, payroll, rent and utilities.
  • SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. 
  • Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
Helpful Links for Nonprofits


Propel Nonprofits - Experts in lending to nonprofits  

LifeLabs - Excellent Remote Work Playbook to help you and your team adapt to a remote work environment
Additional Resources for Clients:
Abdo, Eick & Meyers, LLP

We are a progressive certified public accounting firm that utilizes our people and processes to assist our clients in solving their challenges. Established in 1963 in Mankato, MN, the firm has established itself as a mid-sized leader in the Mankato and Twin Cities accounting arena. Abdo, Eick & Meyers is ranked as number 10 on the Minneapolis/St. Paul Business Journal's "Top 25 Accounting Firms" in Minnesota. 

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