CNA Staff, May 8, 2020 / 15:15 pm
As parishes and dioceses across the country deal with a drop in collections and the prospects of layoffs amid the pandemic, many parishes have managed to avail themselves of government loans designed to cover eight weeks of payroll expenses.
CBS News reported Friday that an estimated 12,000-13,000 of the 17,000 Catholic parishes in the U.S. had applied for Paycheck Protection Program (PPP) payroll loans from the Small Business Administration (SBA), and 9,000 so far had received them.
Guidance from the SBA on eligibility for the loans states that "no otherwise eligible organization will be disqualified from receiving a loan because of the religious nature, religious identity, or religious speech of the organization."
Religious organizations are eligible for the loans as long as they meet the requirements of Section 501(c)(3) nonprofit and employ 500 or fewer people, the SBA said.