Congress is expected to release a second round of Paycheck Protection Program (PPP) funds soon. In anticipation of the new funding round, Reinvestment Fund is sharing information on how you can prepare to submit an application. With this round of funding, Reinvestment Fund will be processing PPP applications.
Reinvestment Fund's PPP program will focus on supporting small businesses and nonprofits that are aligned with their mission-driven financing. They will provide up to $25 million in total loans, with a maximum of $200,000 per loan. Through their PPP program, they hope to serve communities in their primary geographic footprint that are overlooked by mainstream markets. Click here for more on the focus of their program.
They expect to release their online application as early as April 27, 2020. They will announce the availability via email as well as on their website. They will also be hosting an informational webinar on April 27, 2020 at 2 pm EST. Click here to join.
To help prepare for the application, they have put together resources as well as frequently asked questions. Their online submission will request all the information required for the Form 2483 application. Please review the information and begin compiling the supporting documents required for a submission. If you need help or have questions, please send an email to PPPHelp@reinvestment.com.