Like so many non-profit and faith organizations, Disciples congregations still require building and financial support throughout the coronavirus pandemic. Stay connected with the most recent updates from Disciples Church Extension Fund and find the resources you need to take care of your congregation, building, and finances. All in one place.
The U.S. federal government has allocated more than USD $350 billion to assist small businesses, including non-profits such as congregations and other denominational organizations, in keeping employees on the payroll and covering critical expenses through this trying financial time. The CARES Act created the Paycheck Protection Program (PPP), providing loans through the Small Business Administration with provisions for loan forgiveness of up to 100%, depending upon how the loan funds are spent.
Disciples Church Extension Fund is collaborating with an organization we use for some of our employee benefits, Cost Stewardship, Inc., to provide assistance to Disciples congregations and organizations wanting to apply for these loans.
The Small Business Association has now published the PPP Loan Forgiveness application and calculation instructions. As a reminder, all or some portion of your PPP loan principal and accrued interest can be forgiven if you use the loan proceeds for eligible payroll and non-payroll expenses that fully meet the forgiveness requirements issued by the SBA. Entities that have received a PPP loan must apply within 10 months of the last day of their “covered” period. The “covered” period was initially eight weeks from the day the loan is funded, it has recently been extended to 24 weeks.
On June 3, 2020, the Senate passed the Paycheck Protection Program Flexibility Act of 2020. The purpose of the act was to make favorable changes to the PPP program to allow for borrowers to fully use proceeds for qualified purposes and to achieve broader forgiveness. A summary of this legislation is found below as published by the American Institue of Certified Public Accountants (AICPA).
The Small Business Administration recently published guidance regarding applying for Forgiveness of the PPP Loans that have been funded. A link to that document is below, as well as the most recent version of the PPP Frequently Asked Questions document, also published by the Small Business Administration.
The application for Forgiveness of PPP Loans is done through the lending entity that funded the loans. Reach out to your lender if you have questions pertaining to the application for forgiveness process as it relates to that specific entity.
PPP Loan Forgiveness Application
PPP Frequently Asked Questions
The disruption caused by the pandemic extends well beyond its primary health concerns to virtually every aspect of daily life including, but not limited to, economic impacts for individuals and congregations. To assistance them, DCEF will provide a two-month deferral of loan payments.
The CDC conducts critical science and provides health information that protects the United States against health threats, and responds when these arise.
General health and safety tips as congregations begin thinking about moving back into their buildings.
CDC provided information on how to be prepared if there is spread of COVID-19 in the local community, or, if there are confirmed COVID-19 cases within the facility.
Tips on what needs to be cleaned, when it needs to be cleaned, and what to clean it with.
The Public Health Agency of Canada is a federal institution that partners with others to prevent disease and injuries, promote good health, and provide information to support informed decision making.
Through its blog posts, articles, and book reviews, Ministry Matters offers inspiration for pastors, teachers, and worship leaders. This ecumenical collaboration outlines benchmarks for worship together, planning of worship, resuming of worship, sacraments and pastoral rites as congregations begin thinking of moving back into their facilities.