You might have heard that the Payment Protection Program ran out of funds in just under two weeks. It is discouraging, but we’re here to provide our suggestions for how you can pivot your efforts with other programs and fundraising opportunities.
A Little About the Paycheck Protection Program
A few weeks ago, the CARES Act was approved and included the Paycheck Protection Program, which was for small business and nonprofit organizations in the U.S. If you want more information on the PPP and nonprofits, read about it in our last related article.
Since that time, all the funds have been designated to those who applied and were approved. That was somewhat predicted, as we mentioned in the previous article. The math just didn’t add up for enough small businesses and nonprofits to all benefit from this program.
It’s possible that the US Government will give more funds to this program, but we wouldn’t count on it for now. Now we’re wondering:
We’re also conducting a survey of nonprofits to see how the COVID-19 Pandemic is affecting the charity sector overall. Please take a moment to fill out this anonymous survey to help everyone gain a better understanding of what’s going on right now.
What’s Plan “B” for Funding Now?
While the Paycheck Protection Program has run dry, there are still other funds available. For example, the SBA still has the “Debt Relief” program. If your organization is suffering now because of debt, consider applying there.
There’s also a wide variety of private companies that are stepping in to assist right now:
- Bank of America
- Amazon’s Neighborhood Small Business Relief Fund is providing $5M “intended for small businesses with fewer than 50 employees or less than $7 million in annual revenue.”
- Relief for Amazon Merchants
- Many banks are offering assistance. Search for yours here.
- Your city might have a local program. Forbes has a well-updated list of local programs here.
Participate in Giving Tuesday Now
Another excellent opportunity nonprofits have right now is to participate in a global giving day called “Giving Tuesday Now.” If you’ve read many of our articles in the past, you’ll know we’re big fans of Giving Tuesday. So, we were particularly excited to see them initiate this new day of giving.
“Giving Tuesday Now” was created in response to the current pandemic. The Giving Tuesday Organization’s large, global network is an excellent tool for getting attention on your nonprofit organization’s immediate needs.
The best way to get involved is to set up a new dedicated donation landing page for Giving Tuesday and join in the online conversation.
To help further, we have the following free resources for you:
- Webinar: Create a Landing Page for Giving Tuesday
- 3 Steps to Plan Your Giving Tuesday Now Campaign
- The Giving Tuesday Resource Hub
Our Generosity is More Important than Ever Before
At times like these, when we are all sharing this collective crisis and we are all in need in different ways, our generosity becomes more important than ever before. Now is not the time to hoard or cling to our possessions. Now is the time to GIVE.
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