Paycheck Protection Program
Greetings to all you in the name of our Lord Jesus Christ. We are thinking and praying for your church, members and families during these difficult times. We would like to make you aware of information that could assist you in navigating the financial burden caused by the COVID-19 pandemic. Recent legislation, that was part of the CARES ACT, included the SBA’s (Small Business Administration’s) Paycheck Protection Program (PPP). This program has been opened to non-profit entities to apply for Federal assistance with payroll expenses. This does include churches. Please see the corresponding documents to help you in the application process. You must apply through an FDIC Bank that is registered with the SBA. Please call your local bank to find one offering this service.
PPP loan calculation worksheet – this will help the bank confirm the amount requested for your loan
Applications can be submitted beginning April 3 for small businesses and churches/non-profits. Once you have the application and worksheet completed and your information gathered, please contact a local bank to submit the application to.
With God’s help we will all get through this pandemic. If you have further questions, please contact our office.
David B Parker
Resources for Online Giving Options
Visit the Nuts and Bolts Leadership Page to see several options which churches are utilizing.
Visit the IPHC Resources
In response to the coronavirus (COVID-19) pandemic we are experiencing on a global scale, The Extension Loan Fund Staff and Board of Directors are working diligently to insure we can protect our staff, maintain our day to day operations and serve our churches and investors with great care.
Beginning March 23, 2020 our staff will begin working remotely and implementing split-shifts to make sure our day to day operations are not interrupted and to comply with governmental authorities to practice social distancing.
We will continue to process investment and loan activity in a way that is in the best interest of our investors and maintains the Fiduciary Responsibility of the Fund. We will continue to respond responsibly as we monitor our investment and loan rates and to the overall economic environment.
We understand the concerns our churches are experiencing and recognize the impact this will place on our communities and we encourage our churches and investors to communicate with us if you have any questions or concerns. Please know we are committed to being responsive and sensitive as we work through the coming months.
By the grace of God and His continued presence with us, we will endure.
“The Lord bless you and keep you; the Lord make his face shine on you and be gracious to you; the Lord turn his face toward you and give you peace.” - Numbers 6:24-26