The CARES Act and Paycheck Protection Plan
April 3, 2020 / By Bob Flask and the Rev. Susan Ranous
Editor's Note: The following message eas sent to the Upper New York Conference on Friday April 3 on behalf of Conference Treasurer, Bob Flask, and CF&A Chair, the Rev. Susan Ranous.
We hope you are caring for yourselves, your churches, congregations, and community during this difficult and unusual time. As you know, the Conference has a COVID-19 resource section on its website. As things have changed so dramatically and frequently, we wanted to advise you of an additional resource that is available.
There are many programs and funds available, both at the state and federal levels, many of which apply to the local churches and not-for-profits. We have summarized some of this information to make you aware of what is available under the new federal CARES Act, which was recently passed, including the loan program, known as the Paycheck Protection Plan (PPP).
The information that is available will help guide you through the loan process, unemployment issues, etc. There is also information available to help guide you in determining if the PPP is appropriate for your church, or if one of the other state or federal programs would provide a better benefit. Click here to learn more.