PAYCHECK PROTECTION ADVISORY SERVICES
These are hard times for nonprofits and mission driven small businesses, but the Praxia Partners team is digging in to the policies and providing support to help our community survive.
Update: The second round of the government’s Paycheck Protection Program opened the week of January 19th at a critical time for many businesses in our community. Praxia Partners is again teaming up with Commodore Bank to facilitate the closing and forgiveness of loans for small businesses and nonprofits that need this support to stay in business and meet their mission.
Commodore and Praxia Partners are accepting applications for Round 2 of the Paycheck Protection Program. If you’re familiar with Round 1, read our blog post here to review new eligibility requirements for Round 2. We will be updating this page with a link to submit an application shortly.
We are also accepting applications for Round 1, if you didn’t receive a loan. E-mail us directly at firstname.lastname@example.org for an application, and read here for the most up to date requirements for receiving a Round 1 loan.
In normal times, Community Building Partners, as an enterprise of Praxia Partners, builds local capacity and shares knowledge and expertise that supports local nonprofit growth. And in times of global pandemic, that includes sharing as much financial expertise, business experience and policy information as possible to make sure every nonprofit and mission driven organization in Central Ohio has access to the information they need.
In order to help the stimulus money find its way to our communities, we have taken the following steps to make both the information and program accessible to our community:
- Providing pro bono guidance to organizations during the application process.
- Worked with local community bank Commodore, to streamline and build up capacity for an expedited process for applications. We know that banks are generally prioritizing their long term relationships in processing these applications, and since its first come first serve, we wanted to make sure local organizations weren’t left out! If you already bank somewhere that is doing these applications, our advice is to go through them, but if you are not banked, insufficiently banked, or your bank of choice is not processing Paycheck Protection applications, you are welcome to go through local community bank, Commodore Bank.
- Opened up an email for organizations to ask questions about the program, application or process. We can be reached at the contacts below.
- Created a webinar/slide show for the PPP Round 1, and will happily re-host the webinar for any interested organizations detailing the program, and answering frequently asked questions.
We know the program is a little confusing, and new guidance keeps getting issued by the SBA and IRS, but we are staying on top of it, to support you.
We are determined to make sure that no local org is left without access to the stimulus money intended to keep us all afloat right now!
If your organization could use some help navigating the process, we are here to help.
Email us at email@example.com.