CARES Act explained for churches, pastors, employees
NASHVILLE (BP) -- Pastors, church members and religious organizations concerned about the financial repercussions of the COVID-19 global pandemic have multiple options for relief with the passage of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
Featuring individual payouts, enhanced unemployment benefits and government-backed payroll protection loans, the CARES Act offers economic stimuli in a variety of applications, many of which are available to ministries and ministers.
Harold Loftin, chief legal counsel and GuideStone Financial Resources, joined Jonathan Howe, vice president for communications at the SBC Executive Committee, to discuss the CARES Act and how churches, pastors, and ministries might be able to benefit from it.
Reprinted from Baptist Press (www.baptistpress.com), news service of the Southern Baptist Convention.