Major Nonprofits Seek Small Business Loans During Pandemic

Some large nonprofits want Congress to let them access funds available through a new small business relief program as they face the impact of the new coronavirus.

Eligible companies could receive up to $10 million in loans under a stimulus package (Public Law 116-136) that became law late last month, but the benefit is limited to businesses with 500 employees or fewer. The nonprofit sector hopes some large organizations with more than 500 employees will be given access, as they struggle with closures and revenue dropoffs just like for-profit businesses while the pandemic continues.

These nonprofits ...