The fresh new Coronavirus Support, Save, and you can Monetary Defense Work (“CARES Work”) authorizes banking institutions and you can loan providers to include doing $349 mil in the potentially forgivable financing to help you small businesses within the Small company Administration’s (“SBA”) Income Cover System. So it bulletin establishes forth the new pertinent advice personal schools have to find out about these types of SBA finance.
Who is Qualified to receive SBA Funds? 501(c)(3) nonprofit groups with less than 500 employees, or other types of groups and you may small businesses, meet the requirements to own SBA money.