This includes 501(c)6s

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) amends the SBA's Emergency Economic Injury Disaster Loan (EIDL) program.

Non-profits, including 501(c)6s, are eligible for loans under the EIDl program.

Specifically, under the CARES Act,

Applications are streamlined:

• Waives requirement fo,r a personal guarantee o,n advances and loans less than $200,000,
• Waives the requirement that an applicant be unable to obtain credit elsewhere;
• Authorizes approval based on a simple check of borrower's credit score or alternative method.

The SBA can provide $10,000 cash advance (available within three days of application) to serve as a grant if the money is used to maintain payroll, mortgage or lease payments, increased costs due to supply chain disruption, or the repayment of obligations that cannot be met due to revenue losses from the COVI D-19 pandemic.

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