Frequently Asked Questions regarding the participation of faith-based organizations in the Paycheck Protection Program and the Economic Injury Disaster Loan Program. The following questions are answered:
Are faith-based organizations, including houses of worship, eligible to receive SBA loans under the PPP and EIDL programs?
Are there any limitations on how faith-based organizations can use the PPP and EIDL loan money they receive?
How will churches qualify if have not been informed of tax-exempt status by the IRS? Do organizations have to request and receive tax exempt status or just meet the requirements of 501(c)(3) status to be eligible?
Will my organization be sacrificing its autonomy or its First Amendment or statutory rights if it requests and receives a loan?
What legal requirements will be imposed on my organization as a result of our receipt of this Federal financial assistance? Will those requirements cease to apply when the loan is either repaid in full or forgiven?