Re: OMF Operations Report for April 2021 & PPP Loan Options

[Cathie Mayo <cathie.mayo@oasis-open.org>]

Hi MIchael,Â

Yes, that is correct. No action needed. I will keep you posted should additional fundingÂ

become available.Â

Best,Â
CathieÂ

On Tue, May 25, 2021 at 11:07 AM Michael Schnuerle <michael@openmobilityfoundation.org> wrote:

I have a call with Jascha on Wed afternoonÂand we will discuss theÂPPP. Though are you saying now this is not available anymore so we don't need to take action on it before the May 31 deadline?

Thanks,

Michael Schnuerle

Director of Open Source Operations

@MichaelMobilityÂÂÂ@OpenMobilityFnd

On Mon, May 24, 2021 at 4:13 PM Cathie Mayo <cathie.mayo@oasis-open.org> wrote:

Hi Folks,Â

I am sorry to report that the SBA is no longer accepting PPP applications due to funding constraints.Â

However, I will keep the paperwork ready to go should they decide to reopen the program in the future.Â

Luckily the ERC credit will continue thru the end of the year and provide approx $21k/qtr to help offsetÂ

payroll costs.Â

Best,Â
CathieÂ

On Mon, May 24, 2021 at 3:44 PM Cathie Mayo <cathie.mayo@oasis-open.org> wrote:

Hi Scott and Jascha,Â

Please see the attached report for OMF for April 2021. I included some notes on the report detailing more informationÂ

on new and renewing members for the month as well as the ERC credit information. Please let me know if you haveÂ

any questions or comments. Â

On another note, new regulations announced in January allows for 501c6 non profit organizations to apply for funding under theÂ

Paycheck Protection Program (PPP). The loan program is backed by the SBA to help organizations retain their employees during the COVID-19 crisis.Â

SBA will forgive loans if all employee retention criteria are met, and the funds are used for eligible expenses. Other information on theÂ

loan, should it not meet eligibility for forgiveness are: interest rate is 1%, maturity 60 months, and loan payments are deferred for 10 monthsÂ

after the "covered period". ÂThe amount that OMF is eligible for based on 2019 payroll information is $26,217. Please review the draftÂ

PPP application for further terms and conditions. ÂThis should be discussed with the Board of Directors. The program ends on MAY 31, 2021.Â

Â

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CathieÂMayo

Controller

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	+1 781-425-5073Â(main)Â Â +1 781-569-5113 (direct)
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CathieÂMayo

Controller

OASIS Open

NEW ADDRESS

400 Tradecenter

Suite 5900

Woburn, MA 01801

Â

Â

Â

	+1 781-425-5073Â(main)Â Â +1 781-569-5113 (direct)
	cathie.mayo@oasis-open.org
	www.oasis-open.org

--

CathieÂMayo

Controller

OASIS Open

NEW ADDRESS

400 Tradecenter

Suite 5900

Woburn, MA 01801

Â

Â

Â

	+1 781-425-5073Â(main)Â Â +1 781-569-5113 (direct)
	cathie.mayo@oasis-open.org
	www.oasis-open.org