COVID-19 Resources for Parishes and Individuals

Information Type: Financial

Paycheck Protection Program Flexibility Act Extends Time for Using Funds from 8 to 24 Weeks; Reduces % of Funds That Must Be Used for Payroll; Extends Loan Repayment Period

On June 5, the President signed the Paycheck Protection Program Flexibility Act. This legislation makes some important positive changes to the Paycheck Protection Program: It extends the time period to use PPP loan funds and still qualify for loan forgiveness from 8 to 24 weeks. It reduces the amount of PPP loan funds that must …

Paycheck Protection Program Flexibility Act Extends Time for Using Funds from 8 to 24 Weeks; Reduces % of Funds That Must Be Used for Payroll; Extends Loan Repayment Period Read More »

Parishes Advised to Apply/Re-Apply Quickly for Newly Voted Additional PPP Funds

On April 21, 2020, the US Senate passed the “Paycheck Protection Program and Health Care Enhancement Act.” This relief measure, which is expected to be approved by the House of Representatives and signed by the President later this week, authorizes an additional $321 billion for the Paycheck Protection Program (“PPP”), which provides forgivable loans to …

Parishes Advised to Apply/Re-Apply Quickly for Newly Voted Additional PPP Funds Read More »

Emergency Grants for Congregations

Information regarding the emergency grants program for parishes announced by the Bishop on April 14 and intended to cover financial shortfalls in pledge and plate income and rental income, with priority given to protecting payroll, and up to 20% to sustaining outreach ministries.

Paycheck Protection Program

April 3 communication urging parishes to move expeditiously to apply for Federal CARES Act Paycheck Protection Program loans.

COVID-19 Resources for Parishes and Individuals

Resources that had been made available by Federal, State and New York City programs as of March 30, 2020, and a summary of key Coronavirus Aid, Relief, and Economic Security (“CARES”) Act provisions prepared by the Church Alliance.