During this moment of self-containment, households are doing what they can to remain calm and stable. Keeping some sense of normalcy requires resources, and a large number of North Carolinians laid off due to COVID-19 (170K) gives cause for economic concern. Unemployment is not only a concern of the business sector of our state but churches as well.
We appreciate that the CARES Act Payment Protection Plan did not exclude most non-profit organizations (including churches) from protecting their employee payroll. Please find attached a press release from Church Extension, providing us with user-friendly resources as we apply for the PPP funds available to our churches.
We are thankful that our Regional and General leaders are working to provide us with assistance and resources as we navigate these uncertain times.
May God’s Resurrection Power Sustain Us All,
+Valerie J. Melvin
DCEF offers assistance in applying for CARES Act
Paycheck Protection Program loans
The federal government has allocated more than $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. Each Disciples congregation or organization is required to apply directly with a bank, preferably one that has their deposit accounts. The assistance will be very helpful in gathering all of the correct information and fully completing the application form. This service is provided at no cost to Disciples congregations, Regions, General Ministries and recognized ministries. DCEF does not benefit financially in any way from this service.
To learn more about this service, click on the link below.