The CARES Act and other Grant/Loan Funding Opportunities
CARES Act and Paycheck Protection Program
We are receiving a great deal of information related to The CARES Act, a 2 trillion dollar stimulus package that was passed by Congress. Included in the legislation is the availability of funds for non-profits and churches.
This CARES Act website provides the following:
- For a top-line overview of the program click here
- If you’re a lender, more information can be found here
- If you’re a borrower, more information can be found here
- Interim Final Rules from the SBA available here
- The application for borrowers can be found here
Click here for a spreadsheet designed to help congregations calculate a total loan amount.
Some resources to better understand the PPP and CARES Act are available here:
Administrators across The Episcopal Church are reporting that lenders are insistent that non-profits, especially churches are not eligible to apply for The Cares Act funding. It may be helpful to provide your bank with the following related to the program.
Paycheck Protection Program FAQs for Small Businesses
"You are eligible for a loan if you are a small business that employs 500 employees or fewer, or if your business is in an industry that has an employee-based size standard through SBA that is higher than 500 employees. In addition, if you are a restaurant, hotel, or a business that falls within the North American Industry Classification System (NAICS) code 72, “Accommodation and Food Services,” and each of your locations has 500 employees or fewer, you are eligible. Tribal businesses, 501(c)(19) veteran organizations, and 501(c)(3) nonprofits, including religious organizations, will be eligible for the program. Nonprofit organizations are subject to SBA’s affiliation standards.".
If you continue to have trouble please contact Canon Hazel.
Diocesan Support for Institutions
- The Bishop’s Emergency Clergy Support Discretionary Fund, to provide emergency support to clergy and families and,
- The Emergency Congregational Support Fund, to provide emergency support for congregations in critical need
This document details the purpose and criteria for the Emergency Congregational Support Fund and provide an application for these funds. Bishop Waldo has been empowered by DEC to administer (audited) the Emergency Clergy Discretionary Fund, and the Executive Committee of DEC and Chair of the Commission for Congregations will process applications for Emergency Congregational Support.
Potential Support from Church Pension Group
If applying to the Church Pension Group for waivers for Health Insurance, Pension or Property Insurance. you will need the Bishop’s signature in order to complete the application. Information related to that process can be found below.
Please contact Canon Hazel should you have further questions about these opportunities.
A Note For Congregations Seeking Outside Support
Please know that when making applications for loans that do not require collateral, i.e., unsecured loans, there is not a requirement to submit an encumbrance application with the Standing Committee. However, it is highly recommended that you notify the Bishop and President of the Standing Committee, Stephen Rhoades if your congregation applies for a loan (and subsequently receives a loan). Being the one tasked to keep a record of all applications submitted, it will be very helpful if you copy Canon Hazel on that notification. That will assist us in preparing an accurate report for the Bishop and Standing Committee. Please use the following email addresses:
It is our understanding that the application process for The CARES Act will open Friday, April 3, 2020. There are two important things you can be doing to prepare for an application. The first is to participate in a webinar to learn more. We keeping a list of opportunities that can be found here. Know this list will be updated regularly.
The second thing you can do is ensure your financial records are up-to-date and you have a copy of your last audit. This financial information will be required for any application process.
Below is a playlist of webinar recordings related to the CARES Act.
You can click the three lines in the top right of the video to access the full playlist.