Starting April 3, 2020, churches can apply for the  "Paycheck Protection Program", which is part of the government's coronavirus stimulus package.

If your donations have fallen off in recent weeks, and you are struggling to pay your staff either now or in the near future, you really need to look into this program TODAY, because a portion of the loan won't have to be paid back if you continue to pay your staff.

In short...based on the latest info as-of April 2, 2020...

• The program is designed to help small businesses (and churches) keep their employees without reducing pay.
• Any church affected by coronavirus can apply starting April 3rd.
• Apply through your bank, or "any federally insured depository institution"
• SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
• For portions of the loans not forgiven, the interest rate will be 1/%, with 6 months before having to start making payments.

Here are some links so you can read up on this important program for churches and small businesses:

U.S. Treasury Paycheck Protection Program - overview and details

Here is a good article from Forbes comparing PPP with the other stimulus programs for small businesses and churches...

Forbes article on Paycheck Protection Loans

Another good comparison article.

Please do NOT contact us at ChurchFinder about this program.  We are providing this information in hopes that it is helpful, but it may not be right for all churches.  Please consult with your CPA and banker (and of course ask the Lord!!!) regarding whether this is right for your church.

We hope this information is helpful for your church!  We are praying for you during this challenging time!

ChurchFinder COVID-19 Update

ChurchFinder has seen a huge increase in traffic in recent weeks as more people are looking for churches to attend on-line.  To better meet this need, we are preparing to launch a full directory of Online Churches!  All of our Pro and Premium partner churches will receive an email next week on how they can promote their Online Campus for Easter Sunday.

Now more than every it is critical that churches have the best possible on-line presence, and are connecting on-line with people in need.  Thank you for partnering with us to reach people in your city and nationwide!