If you are in leadership or on the finance team of a faith-based not-for-profit organization, you really, really need to read the Faith-Based Organizations FAQ From The Small Business Administration:
- FREQUENTLY ASKED QUESTIONS REGARDING PARTICIPATION OF FAITH-BASED ORGANIZATIONS IN THE PAYCHECK PROTECTION PROGRAM (PPP) AND THE ECONOMIC INJURY DISASTER LOAN PROGRAM (EIDL)
The document is dated 4/3/20.
Read this document if you have applied or are thinking about applying for a loan under the Paycheck Protection Program.
An issue in the back of many people’s mind is whether any federal assistance under this program will infringe on religious freedom. I think you will be quite pleasantly surprised by reading the FAQ.
Please read the article. You might want to make a copy for your file.