April 21, 2020
Dear Pastors, Church Treasurers & Other Church Leaders,
Last night, the Executive Board of the Central Valley Baptist Association approved a $230,000 loan proposal presented by its Finance Committee to help CVBA-member churches who are struggling financially specifically because of the COVID-19 pandemic. The program, called Pandemic Assistance Loans (PALS), authorizes the Finance Committee to accept applications for loans up to $25,000 to be used to offset losses of offering that are a direct result of church doors being closed as a response to the pandemic.
Here’s a summary:
PALS are interest free and repayable in 36 monthly installments with repayment beginning the latter of 120 days or after regular services recommence;
PALS are designed to cover fixed costs (costs that exist where the church is open or closed);
PALS are designed to cover salaries for pastoral and non-pastoral employees who would otherwise face layoffs;
PALS are designed to cover the extra costs associated with conducting worship services, discipleship programs, committee meetings, and church business meetings electronically and remotely due to necessary social distancing;
PALS are designed for those member churches who do not have sufficient reserves and savings to offset reductions in offerings; and
PALS are funded through CVBA designated funds maintained by the Baptist Foundation of California.
I have attached the two-page PALS Application along with the two-page REQUIREMENTS FOR PANDEMIC ASSITANCE LOANS (PALS). If, after viewing these materials, you have questions about your church’s eligibility for PALS, or questions about the application and/or approval process, please do not hesitate to contact me at my email address or cell number.
In His service,
CVBA Finance Committee Chair
Attachment: PALS Application with accompanying REQUIREMENTS FOR PANDEMIC ASSISTANCE LOANS (PALS)