Ultimately, this is a congregational decision and should be determined according to your congregation’s governing documents.  Considering the unique circumstances, some congregations are having to make decisions by church councils or governing boards and have the Voters Assembly ratify or affirm the action taken at a future date when a Voters Assembly can meet.


SBA Paycheck Protection Program Loan Interim Final Rule


  • First Step, if you choose to apply for these funds to Call your primary depository institution
    • These Loans will be provided through SBA Preferred Lenders, if your Bank isn’t a SBA Preferred Lender or is not participated you can search for SBA Lenders here:
    • SBA Lender Search
    • Listen to your Bank and take their recommendations on calculations and forms to fill out.




  • IRS Guidance on calculation FTE: IRS Tax Credit and SBA Reference Questions
  • Payroll Calculations: Vanderbloemen has developed a spreadsheetto help you perform the calculations, and has other guidance available.
    • Ask your Bank if they have a specific spreadsheet for the Average Payroll Calculation
  • Documentation Requirements: Your Bank will require was is to be provided and will vary from Bank to Bank: Use the following list as a reference to assist in gathering information:
    • W-2s and quarterly 941 reports are a good source for this information.
      • Note that there is a maximum salary of $100,000 per employee written into the Act, so cap all salaries over that amount at $100,000 for these purposes
    • Amounts excluded as housing allowance (we do not yet know if this will be part of the calculation, but it may be helpful to have it on hand in case those amounts need to be excluded)
    • Documentation of benefits costs during the same 12-month period, including the CHP, CRP, and CRSP 403(b) employer match, as these count in computing average monthly payroll.
      • Note that there is a maximum salary of $100,000 per employee written into the Act, so deduct any CRSP match amount or CRP contribution amount associated a salary amount over $100,000.
    • Have Year End Balance Sheet and Income Statement Ready
    • Have Year to Date Statements Ready
    • For seasonal businesses, please provide payroll report for the 12-week period beginning 2/15/2019 or 3/1/2019 (decided by loan applicant) and ending 6/30/2019.
    • Current Debt Schedule
    • Ask them for a template (Outstanding, rate, Payment, Maturity Date)
    • Documentation showing Employer paid Retirement and Insurance Premiums
    • Bank Required forms
    • Corporate Documents: Constitution and By-Laws


  • Consult your Bank, CPA, and/or attorney on any advice concerning:
    • Impact on SBA Interim Final Ruling (first link above)
    • Payroll Calculations
    • FTE Calculations
    • Employees to Include or exclude, i.e. seasonal employees, employees income no longer employed (outside of let go in light of COVID-19 crisis)
    • Application Questions




God’s continued blessings with you as you discern this option for short term funding and with the process if you choose to apply