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Stories tagged with: cares act

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  • RESOURCE: Unemployment benefits for ministry workers
    by Staff, posted Thursday, May 07, 2020 (4 years ago)

    NASHVILLE (BP) -- GuideStone Financial Resources has created a resource to answer questions that churches and other non-profit organizations -- and their employees -- may have about how the recently passed CARES Act affects those employed in a ministry setting. Read More

  • TRUSTEES: Gateway board approves slight budget cuts, participation in Paycheck Protection Program
    by Staff reports, posted Thursday, April 30, 2020 (4 years ago)

    ONTARIO, Calif. (BP) -- In its spring meeting, Gateway Seminary's Board of Trustees approved a 2020-21 budget of $11,500,000 -- 2.1 percent less than in 2019-20 -- and authorized the seminary's participation in the federal Paycheck Protection Program.

    The budget, approved during the virtual meeting Tuesday (April 28), reflects a $250,000 reduction from the 2019-20 operating budget of $11,750,000 and a 3.8 percent reduction from the original budget proposal for 2020-21 ($11,950,000). Read More

  • Loan program depleted as Congress stalls
    by Tom Strode, posted Friday, April 17, 2020 (4 years ago)

    iStock
    WASHINGTON (BP) -- Money for a small business loan program that many churches applied for has been exhausted while Congress remains in a deadlock over more funding.

    The U.S. Small Business Administration (SBA) announced April 15 it could no longer accept applications for the Paycheck Protection Program (PPP) because the $349 billion designated in a coronavirus (COVID-19) relief package enacted in late March is depleted. Read More

  • Paycheck Protection Plan draws feedback from pastors, ethicists
    by Diana Chandler, posted Wednesday, April 08, 2020 (4 years ago)

    SEATTLE (BP) -- As pastor of Epic Life Church in Seattle with only five employees, Keith Carpenter sees the Paycheck Protection Plan loan as a godsend during a devastating economic downturn prompted by the COVID-19 pandemic. So does pastor A.B. Vines, whose multisite New Seasons Church in Spring Valley, Calif., employs about 50.

    But some pastors have theological and ethical concerns with the loan, which is administered by the U.S. Small Business Administration. Read More