Church Resource Available For SBA Loan

President Donald Trump signed the Small Business Administration “Paycheck Program” Loan/Grants as described in the CARES Act into law March 27, 2020 to become effective April 1, 2020.  Churches affiliated with the State Convention of Baptists in Ohio are eligible recipients.  Per Baptist polity of autonomy, each local church decides whether to participate or not.

The administration of the “Paycheck Program” Loans/Grants resides with Small Business Administration lending institutions.  To apply for such a loan requires an application with a Small Business Administration lending institution.  Hopefully, local financial institutions or an internet search can provide a list of Small Business Administration lending institutions near the location of each church affiliated with the State Convention of Baptists in Ohio.

Some Small Business Administration lending institutions may require a 501c3 status determination letter.  The State Convention of Baptists in Ohio covers all affiliated churches with the SCBO 501c3 group exemption number except those churches who have obtained their own individual 501c3 tax-emption status as a non-profit organization.  Affiliated churches in the SCBO 501c3 group exemption number may access a form to present to an authorized Small Business Administration lending institution from the SCBO website: www.scbo.org/tax.  For additional information church leaders may contact Kevin Heaton at kheaton@scbo.org.

Please visit the website of the State Convention of Baptists in Ohio www.scbo.org for additional information regarding the COVID-19 Pandemic.  Your Mission Ohio Resource Team remains available to assist churches and associations obey the Great Commission.  The mission to Reach Ohio and the world with the Gospel of Jesus Christ remains.  Let’s press toward that mark.  May our Lord bless you as you serve Him.

In Him,

Jack Kwok