{"id":3468,"date":"2020-04-24T12:16:36","date_gmt":"2020-04-24T16:16:36","guid":{"rendered":"https:\/\/www.indianz.com\/covid19\/?p=3468"},"modified":"2020-04-24T12:16:36","modified_gmt":"2020-04-24T16:16:36","slug":"nafoa-native-american-finance-officers-association-9","status":"publish","type":"post","link":"https:\/\/indianz.com\/covid19\/2020\/04\/24\/nafoa-native-american-finance-officers-association-9\/","title":{"rendered":"NAFOA (Native American Finance Officers Association)"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1790\" src=\"https:\/\/indianz.com\/covid19\/wp-content\/uploads\/2020\/03\/unnamed-20.png\" alt=\"\" width=\"600\" height=\"125\" srcset=\"https:\/\/indianz.com\/covid19\/wp-content\/uploads\/2020\/03\/unnamed-20.png 600w, https:\/\/indianz.com\/covid19\/wp-content\/uploads\/2020\/03\/unnamed-20-300x63.png 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/p>\n<h1>Paycheck Protection Program Eligibility Expanded<\/h1>\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\">\n<table class=\"m_6596591362100518902mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"m_6596591362100518902mcnTextContent\" valign=\"top\"><span style=\"color: #000000;\">Today, the Small Business Administration (SBA) <a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=0524524bbb&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3D0524524bbb%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708966000&amp;usg=AFQjCNElqdhwmqUl-1cc3lRtGcH3CVmbFw\">published an interim final rule<\/a> including a change to their guidance regarding the <a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=adcc98282d&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3Dadcc98282d%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708966000&amp;usg=AFQjCNEjCHm8Lps23R_8qmKex5d-ZNkwsA\">Paycheck Protection Program<\/a> (PPP) that would make most tribal gaming operations eligible for the program. <\/span><\/p>\n<p><span style=\"color: #000000;\">The PPP is a loan program within the <a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=6a826a26e1&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3D6a826a26e1%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNENX_D6ZPCl-3Y7zMoTintRAw20Jg\">CARES Act<\/a> that allows businesses with fewer than 500 employees to apply for loans to cover payroll and other operational expenses that have been disrupted due to the COVID-19 pandemic. This loan is forgivable&nbsp;if the awardee ensures that the funds were used for their intended purposes over the covered period.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"m_6596591362100518902mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"m_6596591362100518902mcnTextContent\" valign=\"top\">\n<div>&nbsp;<\/p>\n<h3 dir=\"ltr\"><strong><em>Resources<\/em><\/strong><\/h3>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=1adb027ee8&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3D1adb027ee8%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNFJ72YRD8G6vRm4ndBWYivJRRJOcw\">Interim Final Rule<\/a>&nbsp;&nbsp;<br \/>\n&nbsp;<\/li>\n<li><a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=c77aed5fec&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3Dc77aed5fec%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNFWvwHS7XWReTbnP9GpCulQcIBehA\">The CARES Act: Sec. 1102 &#8211; Paycheck Protection Program<\/a>&nbsp;<br \/>\n&nbsp;<\/li>\n<li><a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=b546e34c40&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3Db546e34c40%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNHPx34E3doAaWbK1WQ5Z4c8_YGAKQ\">SBA Site: The Paycheck Protection Program<\/a><br \/>\n&nbsp;<\/li>\n<li><a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=1021767187&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3D1021767187%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNHISy6yb6h8O13CJLKPfIAwLYPHyg\">Paycheck Protection Program FAQ (4\/23\/20)<\/a><br \/>\n&nbsp;<\/li>\n<li><a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=f23380defe&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3Df23380defe%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNEssOEwI7crJCiABxOxkb_7eN6JKA\">Native Owned Banks<\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td valign=\"top\">\n<table class=\"m_6596591362100518902mcnTextContentContainer\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"m_6596591362100518902mcnTextContent\" valign=\"top\"><span style=\"color: #000000;\">The original guidance suggested that most tribal gaming operations would be ineligible to participate in the program if these businesses derived over 50% of their revenues from gaming. Tribes and states with legal gaming enterprises&nbsp;worked hard to oppose this limited and arbitrary criteria for inclusion within the program.&nbsp;&nbsp;<\/p>\n<p>The new interim final rule removes the criteria and states that &#8220;a&nbsp;business that is otherwise eligible for a PPP Loan is not rendered ineligible due to its receipt of legal gaming revenues, and 13 CFR 120.110(g) is inapplicable to PPP loans.&#8221;&nbsp;<\/span><\/p>\n<p><strong>Paycheck Protection Program Tribal Strategy<\/strong><\/p>\n<ul>\n<li>Seek a financial services provider that is local or seek out a nationally-chartered bank like Native American Bank.&nbsp;<\/li>\n<li>Seek loans through Native owned banks and CDFI\u2019s that are providing SBA 7(a) loans:&nbsp;<a href=\"https:\/\/nafoa.us19.list-manage.com\/track\/click?u=5fdaa92d88375a474b912b0f3&amp;id=a86c967f9f&amp;e=15e6efc718\" target=\"_blank\" rel=\"noopener noreferrer\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/nafoa.us19.list-manage.com\/track\/click?u%3D5fdaa92d88375a474b912b0f3%26id%3Da86c967f9f%26e%3D15e6efc718&amp;source=gmail&amp;ust=1587830708967000&amp;usg=AFQjCNG8cNhWKOGrlPUQFcDJ25piiReySQ\">Native Owned Banks<\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Small Business Administration published an interim final rule including a change to their guidance regarding the Paycheck Protection Program that would make most tribal gaming operations eligible.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[6,1],"tags":[390,205,43,407,304,235],"class_list":["post-3468","post","type-post","status-publish","format-standard","hentry","category-organizations","category-updates","tag-cares-act","tag-h-r-748","tag-nafoa","tag-ppp","tag-sba","tag-treasury"],"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/3468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/comments?post=3468"}],"version-history":[{"count":1,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/3468\/revisions"}],"predecessor-version":[{"id":3469,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/posts\/3468\/revisions\/3469"}],"wp:attachment":[{"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/media?parent=3468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/categories?post=3468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indianz.com\/covid19\/wp-json\/wp\/v2\/tags?post=3468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}