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Posted on 4/9/20 at 2:47 pm to TSLG
quote:
Is it normal for churches to get sba loans?
SBA Disaster Loans, yes.
SBA 7(a) Working Capital Loans, no.
The former is what's being received.
Posted on 4/9/20 at 2:47 pm to OceanMan
quote:
Churches have employees just like any other business, and these loans are specific to retaining employees (particularly the PPP loan).
Ok so how have they been getting paid throughout their employment history?
And cannot parishoners/congregation still donate as usual? We haven't had floods or hurricanes here.
Posted on 4/9/20 at 2:48 pm to TSLG
quote:
Is it normal for churches to get sba loans?
Churches, and other non-profits, are generally ineligible for your normal 7(a) SBA loans.
Churches, and other non-profits, are generally eligible for Disaster SBA loans that are made available after hurricanes, etc.
Bear in mind, your normal 7(a) SBA loan is a pretty crappy product. It's generally only available if you are having trouble getting more traditional credit options, and the rates and terms kinda suck.
This post was edited on 4/9/20 at 2:50 pm
Posted on 4/9/20 at 2:49 pm to PiscesTiger
quote:
And cannot parishoners/congregation still donate as usual? We haven't had floods or hurricanes here.
I guess they could mail in a check or donate online. No one is passing a plate right now.
Look... the PPP loans have NOTHING to do with a loss of revenue, which is why so many businesses of all shades are grabbing them right now.
Posted on 4/9/20 at 2:49 pm to PiscesTiger
quote:
Ok so how have they been getting paid throughout their employment history?
From whatever revenue sources the Church is receiving.
quote:
And cannot parishoners/congregation still donate as usual? We haven't had floods or hurricanes here.
Take about 2 seconds to think about why/how this might have been impacted by the shutdown.
Posted on 4/9/20 at 2:52 pm to LSUFanHouston
Ok. I'm not saying you're wrong. I am all eard and am reading this thread and both sides of the argument make sense.
Would under PPP regulations, a church be a "tribal business"? Or Indy franchise?
Would under PPP regulations, a church be a "tribal business"? Or Indy franchise?
Posted on 4/9/20 at 2:52 pm to TSLG
quote:I don't think normal, but not novel, either.
Is it normal for churches to get sba loans?
quote:ok, fill me in if you do. It looked like you were relying on your foia experience to drop a bit of a gotcha, but were also making a pretty flimsy argument that the typical exemptions that would protect the specific financial information wouldn't apply to churches the way it would other businesses.
I'm being a hypocrite. I hate people that want to be spoon fed, and that's exactly what I was looking for, because I'm not willing to put in the work right now. If I find the right spoon feeder, or decide to spend a few hours researching the topic, I'll let you know. But, we are just spinning our wheels at this point
This post was edited on 4/9/20 at 2:54 pm
Posted on 4/9/20 at 2:57 pm to PiscesTiger
quote:
Would under PPP regulations, a church be a "tribal business"? Or Indy franchise?
There is an Other box, but you knew that and wanted the gotcha.
Posted on 4/9/20 at 2:58 pm to Golfer
quote:There is a 501c3 box.
There is an Other box, but you knew that and wanted the gotcha.
Posted on 4/9/20 at 3:00 pm to Golfer
Excellent and logical points, but the collective intelligence here is pretty low.
These past few weeks have been eye-opening.
These past few weeks have been eye-opening.
Posted on 4/9/20 at 3:01 pm to PearlJam
quote:
There is a 501c3 box.
Duh. I forgot their classified as that for payroll tax purposes, but don't have to file 990's.
Posted on 4/9/20 at 3:04 pm to Golfer
quote:
but you knew that and wanted the gotcha.
You're giving me too much credit, Rev.
Posted on 4/9/20 at 3:04 pm to LSUFanHouston
quote:
but I'm really curious what you do with this information. Are you some kind of a media member or a watchdog? And what are you trying to accomplish by getting access to a church financials?
The system is rigged against the little guy. I hate greedy people doing what greedy people do, while not caring about the consequences to others.
A couple of examples:
Forcing a newly elected tax assessor to change a homestead exemption policy, which was fricking poor people, by having a bomb that the previous assessor had email conversations about an ag's opinion on the issue years before.
Forcing a mid-sized municipality to quit letting an official's family member continually get a license to operate a local taxi company without the necessary commercial policies.
I don't like to stir up shite for people, and the right information can help fix things without destroying the perpetrators. Generally, I can understand a lot of the shadiness that goes on in our corrupt system. It's tough to do the right thing when nobody is forced to do the right thing.
In our world, being a dirty, shady pos usually pays. It sucks.
Posted on 4/9/20 at 3:07 pm to Bengalbio
quote:
The SBA announced that churches are eligible for stimulus money.
I'm a bit torn on this one; churches taking public money is probably a bad precedent to set and opens the possibility that there will be conflict among faiths that receive public money. The outcry will be fierce when some of this goes to the local Mosque and associated school.
Fox News article
If we're going to prop up anything that employs people in this country, regardless of headquarters, tax status, how much they pay, etc. - then churches also deserve money.
If we were more selective to only companies paying appropriately levels of taxes, then they shouldn't get paid.
Posted on 4/9/20 at 3:07 pm to Golfer
quote:
Golfer
Are you financial professional of some kind? You may be my guy.
Posted on 4/9/20 at 3:12 pm to PearlJam
quote:
but were also making a pretty flimsy argument that the typical exemptions that would protect the specific financial information wouldn't apply to churches the way it would other businesses.
Very flimsy.
I was mainly brainstorming, and throwing shite against the wall, to see if anybody added anything that might be useful in the future.
I'll fricking give you a hug if you start researching the topic. You might not be the right guy right now, but I have a lot of faith that you could definitely be the right guy after a few hours of research.
Posted on 4/9/20 at 3:17 pm to PiscesTiger
quote:
Ok so how have they been getting paid throughout their employment history?
Via the revenue they take in
quote:
And cannot parishoners/congregation still donate as usual? We haven't had floods or hurricanes here.
If the revenue could support it. If it couldn't then no.
What point are you making?
Posted on 4/9/20 at 3:18 pm to N2cars
quote:
Excellent and logical points, but the collective intelligence here is pretty low.
These past few weeks have been eye-opening.
Your "pretty low" was gracious.
It's a vicious cycle, because it even makes the sharp people become intellectually dishonest trolls.
Posted on 4/9/20 at 3:41 pm to TSLG
quote:I'm researching a bunch of other angles related to the relief under the CARES act, but I'll probably leave this one alone at the moment as I won't be getting paid for it. I'll take that hug anyway.
I'll fricking give you a hug if you start researching the topic
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