Join the Scholz Nonprofit Law team for more updates and tips as we focus on PPP loan forgiveness and workplace reentry. This Thursday, May 21st at 10am, we will host another session of the COVID-19 Response Q&A to review and troubleshoot the forgiveness application, give tips on policies for reopening nonprofit workplaces and programs, and be available to answer other questions. Register here. Feel free to email questions in advance to Melissa, Jeff, or Sarah.
Find the application here: PPP Loan Forgiveness Application
Additional Q&A webinar opportunity tomorrow, Wednesday May 20th at 2pm. You also are invited to a Q&A hosted by the Timpano Group with another panel of HR, financial and legal (Melissa Scholz) experts. Register here to attend!
Important Update for organizations that received both a PPP loan and an EIDL: with the release of the Loan Forgiveness Application by the SBA, it is now clear that if your organization received both a PPP and an EIDL (regardless of when that EIDL was funded), you are going to need to subtract the EIDL grant amount from the PPP forgiveness. Tune in on Thursday for more details.
The Wisconsin Economic Development Corporation (WEDC) has funded the Ethnic Minority Emergency Grant (EMEG) initiative as part of the Minority Business Development Program. The EMEG initiative will award grants of $2,000 per company to ethnic minority-owned businesses with five or fewer full-time equivalent employees (including the owner) in the retail, service or hospitality sectors that have not received assistance through the Small Business 20/20 Program, or the federal CARES Act, and/or Paycheck Protection Program.
This one-time, temporary initiative will accept applications from May 18-24, 2020. Companies that meet the program criteria can apply through one of Wisconsin’s Collective Ethnic and Diverse Organizations during the application window. If the applications received exceed the funds available, companies will be selected at random from the pool of pre-qualified applicants that meet all program criteria.
Read more about the EMEG initiative, including answers to frequently asked questions about this program and how to apply.