Announcements and News

NHCDA COVID-19 Funding Information

Jillian Lynch

COVID‐19 Funding Information

Economic Injury Disaster Loan (EIDL) Emergency Advance

  • Part of the CARES Act through SBA
  • $10,000 paid within 3 days
  • $10,000 advance is treated as a grant (complete loan forgiveness if you do not apply for Paycheck Protection Program)
  •  Paid directly from SBA
  •  Apply: https://covid19relief.sba.gov/#/

Paycheck Protection Program (PPP)

Current application: https://home.treasury.gov/system/files/136/Paycheck‐Protection‐Program‐ Application‐3‐30‐2020‐v3.pdf

We do know that certain documents will be required to apply, including:

  • Payroll tax filings reported to the IRS
  •  State income, payroll, and unemployment insurance filings
  •  Documentation verifying average monthly payroll amounts from prior periods
  •  Documentation verifying payroll costs, mortgage interest, rent and utility payments you expect to incur over the 2 month period after you receive funding

Economic Injury Disaster Loan (EIDL)

General Info

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