With the second round of funding coming available through the Paycheck Protection Program (PPP) of the CARES Act, churches continue to apply for assistance while some have already received funding. Recent guidance from the US Secretary of the Treasury emphasized the importance of the applicant’s certification that “[c]urrent economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” If you are uncertain how this applies in your situation, please contact your lender to discuss your application.
If you have received funding and are putting these funds to use, it is time to consider best practices for maximizing loan forgiveness through the PPP. Horizons Stewardship hosted a one-hour webinar on the PPP and loan forgiveness that provides some practical steps to put in place now that might help maximize these resources. We recommend every church participating in the PPP review this webinar and implement the best practices applicable to your context to be prepared for the next step in assisting your church through the PPP. A one-page summary of best practices is also available to help in sharing this information with your church leaders.