New and Vital Faith Church COVID-19 Loan/Grants $500,000 for loans has been set aside from the New Faith Endowment. The loan is forgiven if apportionments are contributed in full through the end of the year. Re-payment begins only if apportionment giving is less than 100% for 2020. Alternatively, loan payments can be structured in monthly payments and payments could be re-evaluated by the appointive cabinet if apportionment giving is less than 100%. Loans will be at 60 monthly payments at 0% interest. Each applicant must complete the following before applying in order to be eligible for this grant/loan: • The church wasn’t in financial crisis before COVID-19 pandemic • Solicited congregation for extra mile giving • Created a plan for congregational care, engagement, and generosity during the pandemic. (and plan approved by church leadership) • Cut non-critical non-employee expenses • Attempted to negotiate modified payment terms with the landlord or bank (if rent or mortgage) You might benefit from applying for the CARES ACT loan. Here is a link regarding the government process: dscumc.org/worship-online/#Web-Off Oversight: • Provide a monthly report to your District Superintendent and to the Director of New & Vital Faith Communities (*protected email*). You will receive a blank form if your request is granted. . • Loan amounts up to $10,000 per applicant church. If funds remain after the first round of applications, then a second round for applications can be opened. • The fund expires at the end of 2020 but could be renewed. Remaining funds go back to New Faith endowment. • Money can be used to pay employees, rent/mortgage/utilities, and can also be used to purchase tech support and equipment for digital worship. • Loan/Grant requests will be evaluated by the New Faith Team and the applicant’s District Superintendent. Church Name*Please include the city name in the church name if needed. Church City Applicant's Name* First Last Applicant's Email* Applicant's Preferred Phone*Amount Requested*(Up to $10,000)List the church leadership teams that have approved the request.*(Press the plus (+) symbol to add additional rows.) When was a second-mile offering taken and how much was received?* Date Amount This section is for churches with a rental agreement or mortgage.(Please skip this section if the church does NOT have a mortgage or rental agreement.)If the church is renting or paying a mortgage, has there been an attempt to renegotiate?YesNoIf so, what was the result?Cost SavingsList the non-essentials that were cut from the budget and the amounts saved.*(Press the plus (+) symbol to add additional rows.)Item CutSavings Did your church apply for the Cares-Act loan, and if so what was the outcome?*YesNoWhen did the church apply for the Cares-Act loan and what was the outcome?››Click here to find out more about the Cares-Act.‹‹Provide the date of the application and describe the outcome.*During the COVID-19 pandemic, what is the church's plan to:Care for the needs of the congregation?*Stay engaged with the congregation?*Give opportunities to express generosity?*PhoneThis field is for validation purposes and should be left unchanged.
