Charter Currents: Coronavirus Update #15: Feds Issue Helpful Paycheck Protection Guidance and CSDC’s Operations Update Tips
Published May 14, 2020 09:57
Sacramento, CA—The Small Business Administration (SBA) on Wednesday issued very helpful guidance regarding Paycheck Protection Program (PPP) loans that offers considerable comfort to charter schools.
As noted in one of our prior updates, organizations applying for these popular and forgivable loans are required to certify that “current economic uncertainty makes the loan request necessary to support the ongoing operations of the Applicant.” There was no guidance as to what this meant in practice and our prior update articulated some suggested considerations on point.
Editor’s Note: CSDC is offering these Coronavirus-19 updates for public viewing, to members and non-members alike, and in front of our usual member’s only “paywall” as a service to the larger charter school community. We hope nonmembers will consider joining CSDC.