SBA PPP & FFCRA Updates
SBA PPP & FFCRA Updates
Dear Treasurers and Finance Chairs (copy to Pastors),
As you probably know, the Consolidated Appropriations Act passed by Congress at the end of last year revived and revised the Paycheck Protection Program. The UMC legal teams have collaborated on guidance covering pertinent information about Second Draw Loans, plus some changes that also apply to initial loans. That document is available on their Covid-19 resources website, which you can access by clicking here.
The appropriations act also contained provisions addressing the Employee Retention Credit and the paid leave provided by the FAMILIES FIRST CORONAVIRUS RESPONSE ACT (FFCRA). The UMC legal teams have updated their FFCRA guidance which can also be accessed at the link above.
I know how challenging a time this is for all of us. I hope and pray that you and your congregations are staying safe and healthy.
Sincerely,
Ross
