(CARES) Act FAQ from GCFA
Resources and links are being updated
The Coronavirus Aid, Relief, and Economic Security (CARES) Act includes relief measures that apply to local churches. Among the Act’s provisions is the Paycheck Protection Program (PPP).
The CARES Act sets aside funds to offer loans to small businesses, including churches and non-profits. The loans are 100% forgivable (if you meet all requirements).
We are encouraging all of our churches to apply. Below are some resources we've gathered to help you with the application process.
The PDF of a PowerPoint below offers an overview of how this works for churches with some info specific to our Conference (click the image):
Wespath shares the following “IRS Guidance on Social Security Payroll Tax Delay”
Read a May 6, 2020 letter from CCFA regarding this new info from SBA
PPP loan forgiveness update – Oct. 8, 2020
The U.S. Small Business Administration, in consultation with the Treasury Department, has released a simpler loan forgiveness application for Paycheck Protection Program (PPP) loans of $50,000 or less.
PPP Loan Forgiveness Application - for loans exceeding $50,000
May 21, 2020: First Look at PPP Loan Forgiveness Application Process from Horizons Stewardship
May 15, 2020: Paycheck Protection Program borrowers get more flexibility Click the link to read the story from Dan Primack, a business editor at the Axios news and technology website