UPDATE CARES Act: Churches Need to Apply Now
March 31, 2020
UPDATED APRIL 29, 2020
Learn about the CARES Act and two loans for which ministries may be eligible, since Congress authorized additional funding April 23.
FAQs: Faith-Based Organizations and CARES Act Loans
Economic Injury Disaster Loans
Brotherhood Mutual has also posted updated articles to its Safety Library after the recent authorization of additional funding. Check out these articles to learn more:
Paycheck Protection Program: Top 7 Takeaways for Ministries
Social Security Recipients to Automatically Receive Stimulus Payments
Take Advantage of Giving Incentive During the COVID-19 Crisis
Coronavirus: Ministries Eligible for CARES Act Funding
Coronavirus: Emergency Sick Leave and Ministry Payroll
Original Article Posted March 30, 2020:
Some significant strides were made last week in the passing of the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” which has specific relief outlays for 501(c)3 organizations. We are hopeful that this Act will provide much needed relief for the churches, schools, day cares, camps and other related ministries we serve.
Sutton Turner, with The Vanderbloemen Network, is encouraging churches to move quickly in preparing their applications.
Some great organizations we know and trust have already come out with some great information about the Act and how it will impact your ministry.
Vanderbloemen: Details of CARES Act: The Financial Bridge that Ministries Need
ECFA: March 31 Webinar, 1:00 ET: CARES Act - Key Impacts on Churches and Non Profits
Church Law & Tax: April 2 Webinar, Noon ET: Churches and the CARES Act: Helping Congregations and Employees Weather the Cash Crunch.
Brotherhood Mutual: COVID-19 Resources for Ministries: Apply for a Small Business Loan – CARES Act for COVID-19 Relief