Update from Your
Board of Directors
We have been busy working to understand the $2 Trillion Stimulus package and how it relates to SunCoast MCC.
We have attended business webinars, spoken with bank representatives, reviewed multiple versions of applications and reached out to other churches and some congregation members to find out what's going on with the Stimulus package. As this is new, there is still alot of confusion on timing, what and who qualifies and whether these dollars are loans, grants or both. We're happy to report that we've made great progress to date.
Here is Where We Stand
We have submitted applications for two loans:
- the Economic Injury Disaster Loan (EIDL) which could potentially provide a one time payment up to $10,000 in relief;
- the Payroll Protection Program Loan (PPP) which could potentially provide a one time payment up to 2.5 times our monthly payroll.
While t
here are many unknowns at this time, w
e will continue to keep you posted on the status of our applications.
Join us in prayer that these ongoing efforts result in some financial relief for the Church from this pandemic crisis.
Thank You. W
e appreciate everyone’s continued financial support during these challenging times. We miss you and are thinking of you. Stay safe.
