The House just passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). This bill has significant benefits for churches. Staff expenses, overhead, rent, mortgage interest — it’s all eligible. The “paycheck protection loan” that the government is offering turns into a GRANT if you meet a few requirements. We are going to show you exactly what it means, how to get access to claim your benefits the fastest, if/where they apply to you and your church.
Here are the coronavirus CARES Act links and resources mentioned in the webinar:
GuideStone’s Legal team, led by Chief Legal Officer Harold R. Loftin, created the following Question-and-Answer document to provide general information on the new law signed on Friday, March 27. The answers offered below are based on a reading of the statute and in many areas, additional guidance from the IRS or other administrative agencies may be issued in the future that may cause these answers to change.
Church Fuel Webinar + Downloadable Checklist
Injoy Stewardship Solutions and Church Fuel bring you a detailed resource to help you calculate how the CARES Act impacts you.
Full Article: https://www.injoystewardship.com/cares-act
Overview of Federal Guidelines + a Ton of Resources
Vanderbloemen has compiled “Details of CARES Act: The Financial Bridge that Churches, Schools & Nonprofits Need.” There are resources in this list to connect you directly to the US Treasury resources and forms.
Full Article: https://www.vanderbloemen.com/blog/details-of-care-act
Chaney & Associates
This website links to a few helpful resources. This organization has compiled a few webinars that you can review as well.
Do SBA-backed loans violate the separation of church and state?
Preview: Over the past week, several pastors have asked me the same question: namely, is a church or ministry taking advantage of newly approved government-backed Small Business Administration (SBA) loans wrong to do so? Would such a church be now a government-funded enterprise? I do not think so, and here’s why.
For more: gabapstaging.wpengine.com/covid19
Published April 2, 2020