Liberty Church is the recipient of federal PPP funds!
As many of you know, the “Payroll Protection Program” is an initiative of the Small Business Administration designed to support business payrolls during this time of economic shock as a result of the COVID-19 pandemic. Due to the extent of the crisis, non-profit groups are also eligible to receive assistance. PPP funds are given as an interest-free loan—the principal of which will be completely forgiven—if they are used to continue to pay employees in the eight weeks following receipt of the loan.
Here are the details:
Liberty received $171,740 into our bank account on May 1st — the maximum amount for which the church was eligible according to the SBA guidelines.
The funds are currently being used to cover payroll for both the church and preschool staff in May and June. If there are PPP funds left over, the Program permits the church to use these funds to pay utility bills.
The Session has already been paying our staff since the lockdown phase of the pandemic, even those who have been unable to work because their church programs have been cancelled. However, offerings have been behind budget since March 15 — due to the lack of live Sunday services and since some members have lost income or even jobs because of the crisis. In response, the Session has identified $80,000 in 2020 budget cuts and instituted a “non-essential spending” freeze. The PPP funds will help Liberty cover the ongoing shortfall in 2020 offerings.
The Session will continue to keep you up to date on Liberty’s finances. In the meantime, we are so thankful for all of you who have been faithful in your financial support of Liberty during this emergency time. And we look forward to your continued support since we know you believe that Liberty is a good investment because “God is changing lives at Liberty.”
May God’s blessing cover you, your loved ones, our church, and our world.
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