PLUS1
Help PLUS1 apply for the Paycheck Protection Program
This will allow PLUS1 to stay open and continue to unlock an average of 2.5M in novel funding for our nonprofit partners.
Posted April 3, 2020
We are looking for help in navigating the Paycheck Protection Program and making sure that we meet all of the requirements to have the loan forgiven. Our first hurdle is finding someone to accept our application.
We have contacted our bank as the SBA suggested and they are only accepting applications from banking customers with current loan relationships. We’ve never had a loan with them, so unfortunately they will not allow us to apply. I’ve spoken with two other banks that have similar requirements in place. We’re looking for guidance on if there are any lenders that would allow us to apply, and how we could find them Any assistance would be extremely appreciated.
Preparation Phase
- Intro call with CEO and COO to explain situation
Collaboration Phase
- Complete research on Payroll Protection Program
- Assist in finding banks that will take new clients and do not require a previous loan
- Verify that PLUS1's application and calculations meet the criteria for forgiveness prior to filing
Wrap Up
- If loan is approved, verify forgiveness application calculations meet criteria set forth in the act
PLUS1
PLUS1 is a leading non-profit organization that mobilizes cultural leaders and their fans to bring visibility, awareness and funding for social and environmental justice. To date, they have engaged over 150 artists and festivals, including Arcade Fire, Beck, Cage The Elephant, Macklemore, One Republic, St. Vincent, Chrvches, Flume, Zedd, Lykke Li, and The National, unlocked $9Million for 250 spectacularly effective organizations, and catalyzed millions of fans to take action - registering to vote, volunteering locally, advocating for change with local representatives, and directly funding highly effective and worthy organizations.
PLUS1
PLUS1 is a leading non-profit organization that mobilizes cultural leaders and their fans to bring visibility, awareness and funding for social and environmental justice. To date, they have engaged over 150 artists and festivals, including Arcade Fire, Beck, Cage The Elephant, Macklemore, One Republic, St. Vincent, Chrvches, Flume, Zedd, Lykke Li, and The National, unlocked $9Million for 250 spectacularly effective organizations, and catalyzed millions of fans to take action - registering to vote, volunteering locally, advocating for change with local representatives, and directly funding highly effective and worthy organizations.