PPP loan and/or EIDL qualify
Can a non for profit organization qualify for PPP or EIDL help during pandemic?
Terry Says
Yes, but currently I think the SBA is not making EIDL loans. Here are the rules re non-profits applying for PPP loans:
Nonprofits are eligible to apply for a PPP loan if: they are exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code; they were in existence before March 1, 2020; and. they employ no more than 500 full-time and part-time employees whose principal place of residence is in the United States.
