Is a 501c6 eligible for microsoft non profit pricing

The importance of Microsoft for Non-profit in any organization вЂ“ WeвЂ™ve also put together a COVID-19 resource center to help organizations navigate COVID-19вЂ™s impact.In this article, we will see how Microsoft for non-profits is essential for your organization and whether your organization is eligible for Microsoft Office 365 non-profit plan. If you need assistance going over EIDL requirements or considering whether the PPP is a better option for your organization, contact Wipfli. If your organization is considering applying, you can do so at.

If the EIDL is denied, the $10,000 grant does not have to be returned, but it does need to be spent on EIDL purposes. EIDLs are not forgivable except for the $10,000 advance grant. If, after applying for an EIDL, the applicant subsequently applies for a Paycheck Protection Program (PPP) loan, the EIDL will be refinanced into its PPP loan, and the advance will reduce the forgivable portion of the PPP. How does the Paycheck Protection Program factor into EIDLs?

Payments on the loan may be deferred for one year however, interest still accrues during this time period.

The loan interest rate for nonprofit organizations is 2.75%, and loans have maturities up to 30 years.The advance must be used for EIDL purposes and should be disbursed within three days of requesting the advance. If requesting the advance, the applicant must self-certify on penalty of perjury that it is eligible for an EIDL.Applicants can be approved for loans up to $200,000 without a personal guarantee.For loans from $25,000-$200,000 a general security interest in business assets maybe used. There is no collateral necessary for loans less than $25,000.There is no need to submit a tax return.The loans are available based on the applicantвЂ™s credit score.The CARES Act waives the requirement to seek credit elsewhere before applying for EIDLs.Getting into the nitty-gritty EIDL detailsД«efore your organization decides to apply, there are some details to be aware of: 31(b)(2)(c) of Small Business Act) with under 500 employees, that have suffered substantial economic injury as of result of the crisis.ДЄn additional requirement to apply for the emergency grant and loans is that the organization must have been in business as of January 31, 2020. Who can apply for an EIDL?ДЄ wide range of organizations can benefit from this opportunity, including most private non-profits, 501(c)(19) veterans organizations, faith-based organizations and tribal businesses (sec. The loans and advances are intended to be used for payroll, rent and mortgage payments, as well as cover increased costs from supply chain disruptions and other expenses arising due to the crisis. The CARES Act also provides advances on these loans in the form of a grant of up to $10,000.Д®IDLs are available to small businesses and nonprofit organizations that have suffered a substantial economic injury as of result of COVID-19. Signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contains relief in the form of a loan called the Economic Injury Disaster Loan (EIDL). EIDL applicants who have already submitted their applications will continue to be processed on a first-come, first-served basis. As of April 16, the SBA reported that it has exhausted Economic Injury Disaster Loan funding.

Is a 501c6 eligible for microsoft non profit pricing