Latest Financial Updates:
Finance Update - PPP (April 13, 2021)
The Diocese of Maine on behalf of the churches and church-related organizations of the Diocese applied for and received a Paycheck Protection Program ("PPP") Second Draw loan of $1,271,192.
Fifteen churches and the Bishop and diocesan staff chose to not take their allocation or to take a reduced amount. The amounts to be distributed are shown on the linked table. (Click here to see the table
Disbursement of funds will take place by Electronic Funds Transfer on Friday, April 16, 2021 and should be in church and Diocese-related entity checking accounts on Monday, April 19, 2021. Funds are to be used for payroll costs for the April 22, 2021 through October 7, 2021 pays. Application for SBA forgiveness will be submitted after this "covered period". It is anticipated that, as was true for PPP First Draw, the loan will be forgiven. If you have questions or concerns, please contact Canon Terry Reimer.
PPP First Draw Update - Great News!
The diocesan office was notified on March 2, 2021 by the SBA that last year's PPP loan has been forgiven!
Thank you to Canon Terry Reimer, Fred Lynk, Dick Rozene, and Tom Sumner for their work in compiling the necessary information for both the loan application and the forgiveness application. Thank you to all members of the Finance Committee for working with diocesan churches and organizations to gather the necessary information.