Nonprofits & the Paycheck Protection Program: You can now apply through us

Nonprofits & the Paycheck Protection Program: You can now apply through us

P3 applications accepted through 7/31

UPDATE: July 24, 2020

The federal government has extended the deadline for P3 applications to August 8th. Our internal deadline to accept new applications is July 31st.

If you’re interested in pursuing a P3 loan through IFF and our partners at CRF, please complete this basic intake form ASAP and someone will get back to you in less than 24 hours.

  • You do not have to be a current IFF borrower to apply through us, and no loan size is too small.
  • You do have to be a nonprofit located in IFF’s 10-state Midwest region (IL, IA, IN, KS, KY, MI, MN, MO, OH, and WI)

 

UPDATE: June 26, 2020

Thank you to everyone who reached out to IFF for assistance with a Paycheck Protection Program (P3) loan. While the final numbers are still coming in from the SBA, so far we have confirmed that 151 nonprofits in the Midwest received more than $15.3 million in critical and forgivable financing. Many of those loans are under $30,000 — demonstrating, once again, that even the smallest nonprofits need and deserve access to the same resources as larger organizations.

We know many of the P3 recipients that worked with our staff are new to IFF, and we hope to get to know you more in the months and years ahead. IFF has a 32-year track record of being a backstop for nonprofit financing and real estate needs. We’re here to help. Start by contacting us at gro.ffi@3p, and someone will get back to you very soon.

 

Thank You to Our P3 Program Partner

Getting P3 loans in the hands of Midwest nonprofits was made possible through a partnership between IFF and our fellow CDFI, Community Reinvestment Fund, USA (CRF). We brought together a powerful combination of expertise in nonprofits and in SBA systems to help ensure that agencies had equitable access to this financial tool. We knew that whatever their size, nonprofit status, or banking relationships, they deserved access to the same help offered to other small businesses throughout the country.

At our core, IFF exists to strengthen nonprofits and the communities they serve. That’s why we leaned in – as IFF and other CDFIs always have – to ensure critical dollars flowed to the people who needed it most. Now, we are committed to making sure our nonprofit partners understand the requirements of the loan forgiveness program and feel empowered to make the best decisions possible toward their long-term resiliency.

 

Help with Loan Forgiveness

For help with loan forgiveness, please visit our new webpage: www.iff.org/p3forgiveness.

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