By Roger Clark, Director Clean Energy, Reinvestment Fund
The most recent round of the Small Business Administration’s Paycheck Protection Program loans and forgivable loans for small businesses includes funding earmarked for distribution by community development investment institutions (such as Reinvestment Fund) and smaller lenders, so the Reinvestment Fund will be taking PPP applications from its borrowers and from its allies, including clean energy companies and organizations starting on Monday, April 27, 2020.
“Clean energy” includes companies and organizations working on renewable energy, energy efficiency and environmental policy. There are eligibility criteria including size and location.
The dollars are awarded on a first-come, first-served basis, so time is of the essence.
But since the most recent legislation earmarks funding for smaller lenders, this pool is not expected to be snatched up quite as quickly as occurred in the earlier PPP rounds and should increase the odds that dollars can go to smaller entities.
For more information, visit the Reinvestment Fund's Paycheck Protection Program webpage. Questions should be directed to PPPHelp@reinvestment.com.
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[Posted: April 27, 2020] PA Environment Digest
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