The CARES Act is new federal legislation that enacts a Paycheck Protection Program that will provide loans for qualifying small businesses (employing fewer than 500 people) to help them with payroll and other specific expenses due to reduced revenue. Churches and other 501 (c) (3) nonprofit organizations can qualify. The Small Business Administration (SBA) will manage the loans through local banks.
Top 10 Questions Non-Profits Are Asking (ECFA) Click here.
How Churches Can Apply for the Paycheck Protection Program: Click here.
Complete the loan application online: Click here.
View Guidestone’s video overview: Click here.
FAQs for Faith-Based Organizations (U.S. Small Business Administration). Click here.
An Overview of the CARES Act for Churches (from Christianity Today): Click here.
Other SBA small business guidance and resources: Click here.