(This was originally posted on March 26, 2020)
One of the areas that I have been praying churches right now is for their financial well-being. While I don’t think that is the greatest need for many churches, I do know that many churches are living offering-to-offering. Even though there may be some outliers, the norm for many churches right now is a decrease in giving. So financial strain is either a current reality or looming on the horizon.
I wanted to pass along some information about the S.3578 CARES Act that was passed by the Senate last night and will be voted on in the House of Representatives tomorrow morning. It appears that 501(c)(3) organizations (including churches) will be able to get loans through this stimulus package.
This post is not necessarily a recommendation to churches to take advantage of these loans offered by the government. There are pros and cons to accepting a loan from anyone, including the government. I also recognize that churches have different views on debt in general, and I respect both sides of that debate.
I’m merely passing along an article that will help church leaders consider what may be available to churches in this stimulus bill.
Click here to read the article.