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Stories tagged with: paycheck protection program

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  • Churches with PPP loans should benefit from law fix
    by Mark Maynard/Kentucky Today, posted Friday, June 05, 2020 (4 years ago)

    iStock
    WASHINGTON (BP) -- President Donald Trump signed legislation today (June 5) to make it easier for businesses or churches struggling during the coronavirus pandemic to take advantage of a payroll subsidy program that's been a critical part of Washington's response to the economic crisis.

    The legislation gives employers more flexibility to use taxpayer subsidies for other costs and extends the lifespan of the Payroll Protection Program as the economy slowly begins to recover. It passed the House last week on a 417-1 vote and was approved by the Senate on Wednesday (June 3). Read More

  • Planned Parenthood's PPP loans draw pro-life censure
    by Tom Strode, posted Wednesday, May 20, 2020 (4 years ago)

    iStock
    WASHINGTON (BP) -- A report that affiliates of the country's largest abortion provider have received $80 million in loans intended to help small businesses during the coronavirus (COVID-19) pandemic has elicited strong disapproval from pro-life advocates inside and outside Congress. Read More

  • Churches receive good news on PPP loans
    by Tom Strode, posted Thursday, May 14, 2020 (4 years ago)

    iStock
    WASHINGTON (BP) -- Churches that received small loans as part of a coronavirus (COVID-19) relief program learned Wednesday (May 13) they will not face the risk of a federal government challenge to their certification of the loans' necessity.

    The good news for houses of worship and nonprofit organizations came in a new guidance from the U.S. Small Business Administration (SBA) regarding the Paycheck Protection Program (PPP), which is designed to help employee retention by small businesses, a category that includes churches. Congress designated $349 billion for the PPP in a $2 trillion relief package approved in late March in response to the economic fallout from the pandemic and followed with another $310 billion in late April when the earlier funds were depleted. Read More