Latest: Navigating the Next Steps with a Paycheck Protection Program Loan
UPDATE: APRIL 7, 2020
As Small Business Administration (SBA) lenders have started to process Paycheck Protection Program applications, INUMC has received a number of common questions. The Conference has shared a list of questions and answers as of Tuesday, April 7, 2020.
UPDATE: April 3, 2020
The Paycheck Protection Program Application Form is problematic when it comes to Non-Profit applicants. There is no “Owner.” So please leave this section blank. The treasury website posted an updated application overnight and there is no longer an “owner” signature line. Please be sure you are using the updated application.
Dear Friends in Ministry,
Please find below a link to a video that outlines INUMC’s current understanding of the Paycheck Protection Program section of the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
It is our understanding that the application process for this Small Business Administration (SBA) loan program opens for small businesses, including not-for-profit organizations, and sole proprietorships this Friday, April 3, 2020. Applications will be accepted on a first come, first served basis. I encourage you to apply as quickly as you can because there is a funding cap.
Please share this information with your congregation’s finance team.
Video Link: Paycheck Protection Program Made Simple
Note: During the recording of this video, I refer to a “Church Conference.” Please note that this was an error on my part, and I should have instead referenced “Charge Conference.”
For detailed information and an application form, please visit:
Director of Administration & Financial Services