why churches should not take the ppp loan

Best answer


Why Churches Should NOT Take The PPP Loan From The Government!Many charities are suffering significant falls in income as a result of coronavirusand are therefore not in a position to compensate employees for any additional costs incurred by them from having to work at home.

People also ask


  • How does the Paycheck Protection Program (PPP) affect churches?

  • Under the PPP, a church is eligible to receive funds covering up to 2.5 times their average monthly payroll, with a cap of $10 million per loan. 75% of this loan must be allocated to direct payroll costs. This loan is forgivable if certain conditions are met.

  • What is the prevalence of churches that accept PPP loans?

  • The prevalence of churches that accepted PPP loans is probably starling. As a matter of public record, all loans over $150,000 are public record, and the largest churches in the United States partook.

  • How much can a church borrow under the PPP and EIDL?

  • Under the PPP, a church is eligible to receive funds covering up to 2.5 times their average monthly payroll, with a cap of $10 million per loan. 75% of this loan must be allocated to direct payroll costs. This loan is forgivable if certain conditions are met. Under the EIDL, a church may ask for an emergency grant advance of $10,000.

  • How many employees does a church need to qualify for PPP?

  • The primary requirement is that the applicant must have 500 or fewer employees, which is likely to include the majority of churches. If your church has more than 500 employees, you may wish to seek legal counsel to determine whether or not your church is eligible. How can a church use PPP/EIDL funds?

    Related Posts

    Leave a Reply

    Your email address will not be published.