Resources for COVID-19 CARES ACT

Forgiveness Process:

Now that you have gotten the loan, you most likely will want to consider loan forgiveness.  That process will begin after your 8-week period ends.  Remember that period begins on the day your loan was deposited into your bank account.  

SBA 3508 Paycheck Protection Program Loan Forgiveness Application

Request for Amounts Paid on Clergy Benefits for PPP Loan Documentation

There will be much guidance coming out on the following:

1. Accounting for your loan

2. How to measure your need and effectiveness of the Paycheck Protection Plan

3. How to document your expenditures that are eligible for forgiveness and your acceptable expenditures that can be a part        of the loan you will pay back

Table of Contents

  1. Session 1 PowerPoint CARES Act: Payroll Protection Program
  2. Excel Spreadsheet illustrating how to calculate your FTE’s for the base period; calculate your FTE’s actual 8-week period and track your expenditures for forgiveness reporting for the 8-week period
  3. Wespath/UMC Support COVID 19 Update
  4. CapinCrouse CARES Act:  Paycheck Protection Program Best Practices for Accountability and Maximizing Your Loan Forgiveness
  5. BKD CPAs & Advisors PPP Updates-Restrictions, Eligibility, Loan Amount, Calculations & Penalty-Free Repayment Option
  6. BKD CPAs & Advisors Borrower Certifications
  7. PPP Loan Good Faith Certification: Now What?
  8. CapinCrouse Treasury Dept Says PPP Loan Amounts Over $2m Will Be Audited
  9. Hancock Bank: What We Know Today About PPP Loan Forgiveness
  10. Ted Batson: Navigating the Next Steps with a PPP Loan
  11. SBA Releases Promised Guidance Regarding Good Faith Certification of the Necessity of a PPP Loan
  12. Q & A from the PPP Zoom Meetings
  13. Zoom Video PPE Powerpoint Presentation and Spreadsheet Video ** David will refer to line E on the compensation package. Please know that it should be LIne D. The PowerPoint has been corrected but not the recording. Business expenses are not paid as compensation to the pastor, thus not includable.
  14. CARES ACT Forgiveness Session 2 Powerpoint Presentation                                                                                                    (NOTE: On video under non-payroll costs May 15, 2020 was stated, but should have been February 15, 2020) 
  15. Zoom Video Forgiveness Session 2
  16. Capin Crouse: Unpacking the PPP Flexibility Act
  17. BKD CPAs: Congress Passes PPP Fixes
  18. 6/24/2020 PPP Excel Forgiveness Calculator 
  19. Session 3 Powerpoint PPP Loan Forgiveness 

Application Process:

There is much guidance and information on the CARES Act and other subsidies coming out. I will attempt to archive the information here for your review. Click on each item to review the contents.

  1. Blast email of 3-31-2020 Letter from the Conference Treasurer
  2. Letter to Pastor and Treasurer included in the March 2020 Mission Shares Report
  3. PowerPoint Explanation of the SBA Assistance Available  
  4. PayCheck Protection Program "PPP" Checklist for Loan Application Process
  5. Marked up PPP Application Resource Sample
  6. PayCheck Protection Program SBA Form 2483
  7. Suggested Excel format for SBA Loan Amount  and Excel Spreadsheet
  8. ECFA CARES Act article and presentation outline
  9. UMC Support CARES Act Q and A
  10. UMC Support Families First Coronavirus Response ACT
  11. FAQ on non-profit provisions in the CARES Act
  12. Comparison of Two Federal Disaster Relief and Stimulus Package Options
  13. IRS Guidance on Group Exemptions
  14. Business Loan Program Temporary Changes: Paycheck Protection Program Interim Final Rule
  15. Wespath/GCFA Guidance for UM Local Churches on the Paycheck Protection Program Borrower Application Form 
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