Last updated: November 23, 2020
David Heinen, Vice President for Public Policy and Advocacy
We extend our heartfelt support to the communities impacted by Hurricane Helene in western North Carolina. We'll continue to share resources for nonprofits and how to help.
For over 30 years our experts have been posting about issues critical to North Carolina nonprofits, including public policy.
David Heinen, Vice President for Public Policy and Advocacy
David Heinen, Vice President for Public Policy and Advocacy
Earlier this summer, Senator Thom Tillis (R-NC) and three other U.S. Senators introduced the Paycheck Protection Small Business Forgiveness Act (S. 4117), which would forgive PPP loans of up to $150,000 with the filing of a one-page attestation form. According to the Center’s recent survey, nearly half of North Carolina nonprofits received PPP loans, and the vast majority of these organizations received $150,000 or less in PPP funding and would benefit from this proposal.
The Federal Reserve is proposing a new loan program for charitable nonprofits that may help a few organizations as its currently written, but could help all of us if improved. The Fed’s proposed Nonprofit Loan Program would enable nonprofits with between 50 and 15,000 employees to borrow between $250,000 and $300 million. The proposal is based on the Main Street loan program for for-profit employers and, as written, includes arbitrary terms that will disqualify most nonprofit organizations.
On May 14, 2020, the Center submitted public comments to the Small Business Administration (SBA) on its interim rulemaking on the Paycheck Protection Program (PPP).
On May 4, 2020, Governor Roy Cooper signed into law two COVID-19 relief bills that unanimously passed the NC Senate and NC House of Representatives on May 2. One bill (H.B. 1043) appropriates $1.5 billion in funding for immediate state needs related to the COVID-19 crisis. The other bill (S.704) makes a variety of policy changes to help North Carolina respond to and recover from the pandemic.
David Heinen, Vice President for Public Policy and Advocacy
As Congress works on additional relief for individuals, businesses, and nonprofits affected by the COVID-19 crisis, North Carolina nonprofits are asking for four specific improvements to the nonprofit relief in the CARES Act: