The Catalyst

Senior Services News
Tuesday, May 4, 2021

Announcement

NEW Application Forms and Extended Deadline for Paycheck Protection Program and Further Expanded Eligibility for Second Draw Loans

Thanks in part to advocacy from our network and the broader nonprofit community, today, March 31, 2021, President Biden signed into law the PPP Extension Act, which extends the deadline for Paycheck Protection Program forgivable loan applications to May 31.  The program had been set to expire on March 31. 

The Small Business Administration (SBA) has also released the NEW application forms Paycheck Protection Program (PPP) borrowers must submit to apply for first-time loans or “second draw” loans, as well as indicating expanded eligibility for those second draw loans.  

First Draw loan information

  • Loans are now available for nonprofit organizations:
    • with fewer than 500 employees total who have not already received funding
    • with 500 or more employees across multiple locations, but with no more than 500 employees at a single one of those locations. This group of nonprofits only became eligible to apply when the American Rescue Plan became law on March 11, 2021.
  • Application form

Second Draw loan information

  • Loans are now available for nonprofit organizations that:
    • have already received and spent an initial PPP loan AND
    • can demonstrate a 25% reduction in gross receipts AND
    • have one location with fewer than 300 employees, OR more than 300 employees across multiple locations BUT NO MORE THAN 300 IN ANY ONE LOCATION (this is new information per the updated application form for this type of loan)
  • Application form

More information is available on our website and on the SBA website, and from your lender. 

For further information, please contact Sarah Dobson, Director of Public Policy and Advocacy, at sdobson@lutheranservices.org or 202-499-5832.

Upcoming Strength & Service Series Webinar

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Preserving the Not-for-profit Legacy in Senior Living

Date: May 12, 2021
Time: 1:00 -2:00 p.m. EDT

A new wave of complexity is hitting the senior living & care sector. More Americans are entering retirement than ever before, but economic pressures from the pandemic and increasing complexity of the care for seniors are driving many nonprofit senior services providers to either affiliate or undergo acquisition with private sector companies. Many not-for-profits are taking a hard look at their long-term viability as they reconcile their extensive history of caregiving, vast industry knowledge, deep connection to the community, and mission-driven culture with the goals of remaining competitive, relevant and financially sound. During this webinar, Ziegler will talk about trends in the not-for-profit senior living & care sector and will highlight what providers need to consider as they look to preserve their Lutheran heritage and not-for-profit spirit.

Register here

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Advocacy Update

President Biden on Wednesday unveiled the American Families Plan, a $1.8 trillion package, that he wants Congress to pass together with his $2 trillion infrastructure package, the American Jobs Plan, laid out a month ago.  Whether enacted together or separately, the packages are aimed at pulling the nation out of the COVID-19 pandemic and revitalizing the economy.  The new proposal lacks health care provisions but would extend or make permanent key tax credits initially enacted as part of COVID-19 pandemic relief packages last year to help working families through the pandemic.  The proposal would also provide for universal paid family and sick leave.  The American Jobs Plan would make a major $400 billion investment in home and community-based services for aging adults and persons with disabilities and would extend the Money Follows the Person program.  The plan also proposes to create jobs and raise wages for essential home care workers and invest in high-speed broadband, housing, and workforce development infrastructure.

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The purpose of this digest is to provide current news and resources to Lutheran Senior Services organizations. The Catalyst is disseminated every other week and includes relevant reports, educational opportunities, policy updates and other announcements. To add colleagues to the distribution list or to unsubscribe from the Catalyst, send an email to awashington@lutheranservices.org.