The process of applying for a grant or loan from for Covid-19 emergency relief funds begins here.
Our Chief Financial Officer and our Vice-Chancellor for Human Resources recently gave a presentation for Wardens and Treasurers regarding the implications of our current situation. This meeting was recorded, and may be viewed here. A number of questions were asked in the accompanying chat; please scroll through that sidebar and see if your question has been answered.
- Immediately convene their leadership, agree that a loan is appropriate, and identify who will be responsible for the application and management process.
- Contact the local bank(s) with whom they have existing relationships, confirm they will be processing PPP loan applications immediately, and identify which bank officer will be primarily responsible for this lending program.
- Notify the responsible bank officer that an application will be forthcoming.
- Assemble the records documenting the monthly payroll for 2019 and/or January – March 2020.
- Complete the 2-page application. A template for the required consent is here.
- Submit the application and payroll records to the local bank on April 3, or as soon as possible after that date.
- Expect prompt loan approval and immediate payment.
- Keep careful payroll, utilities, rent, and mortgage records spanning the 8 weeks after the loan was issued.
Regarding the Small Business Loans recently made available there is a great deal of information available here: https://www.sba.gov/page/coronavirus-covid-19-small-business-guidance-loan-resources, or https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses. Also, the Diocese of Indianapolis has great information available.
For Diocesan grants and loans, complete the form at the link below, and your request will be forwarded to the appropriate committee. They will contact you with their application requirements.
Click here to apply.
CFO Dennis Burton is offering half-hour consultations with parishes that have specific questions and concerns.