As you have heard, on March 25th, Congress passed a stimulus package called the CARES Act. It is filled with economic relief for individuals, businesses, and non-profits which includes our Minnesota pastors and churches. Below you will find helpful links to an overview of that legislation and details on how it can be used for your church.
The benefits are numerous, but most notably you’ll want to look into the potentially forgivable loans in the Paycheck Protection Program (PPP) through the Small Business Administration (SBA).
We have just heard the application process for PPP begins tomorrow and funds are limited, so we strongly encourage you to contact your local bank right away to see if they are a loan service provider for the PPP. If they aren’t a provider, you can ask for a referral.
2. CARES Act – The PPP Application form to use at a qualified SBA Bank
3. CARES Act – PPP Calculator to compute payroll
4. CARES Act – Guidance from a CPA in our Fellowship
Click on the links above, dig into the details, and you have questions feel free to contact us at the District Office – 612-332-2400.