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.
A global pandemic has taken the world by storm. The U.S. government has issued a $2 trillion stimulus bill, also called the CARES Act, to respond to the pandemic. Of that, $377 billion is set to aid small businesses and non profits that need help leveling out their revenue to meet payroll during this tumultuous times.
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 and phone number for organizations to ask questions about the program, application or process. We can be reached at the contacts below.
- Created a webinar, and will happily re-host the webinar for any interested organizations detailing the program, and answering frequently asked questions. You can watch the webinar on our blog here.
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 firstname.lastname@example.org or call us at 202.495.1657