An Update from Church Treasurer Wade Huseth
Recently, the Small Business Administration introduced a new program known as the Payroll Protection Program that allows organizations negatively affected by the COVID-19 crisis, including churches, to borrow money at favorable terms. If the loan is used primarily to for payroll costs, the loan is forgiven and no repayment will need to occur. To protect our ability to retain and pay our church staff, Good Shepherd applied and was approved for this program.
We expect that the majority, if not all, of the loan received will be forgiven based on its intended use. We continue to monitor all relief available to the church and will continue to be diligent in managing our finances. Your support continues to be very important and very appreciated as we all manage our way through this crisis.