20% of Catholic Entities that Applied Benefited from COVID-19 Relief Bill.
Most churches are struggling due to the decrease in their weekly collections since shutting their doors in mid-March. Couple this with the limited adoption of online giving within the Catholic Church and it’s easy to see why so many are currently facing a tremendous financial burden.
Nevertheless, there is hope. Twenty percent of the Catholic entities that applied nationwide during the initial phase of The Coronavirus Aid, Relief, and Economic Security (CARES) Act received funding* intended to enable churches to keep their employees on staff for up to eight weeks. An additional $310 billion was allocated last week for the Paycheck Protection Program to further the bill’s impact.
This funding has been a blessing for many struggling churches. In addition, if at least 75 percent of the funds are used toward retaining employees, the loans will be forgiven. Separate funds have also been allocated for small business emergency loans and grant programs. These funds are limited so visit the U.S. Small Business Administration website for more information and to apply.
God is good ALL THE TIME; All the time GOD IS GOOD. So continue to have faith and take advantage of the resources that are available to your church.
*according to a Diocesan Fiscal Management Conference survey