MORE than 12,000 Catholic churches applied for PPP loans meant to hold small businesses together in the US. Three in four had them granted as small businesses are forced to make life-changing and devastating decisions over their futures after being denied the money that was specifically meant for them.
9000 Catholic churches were permitted PPP loans as small businesses suffocated around them.
Between 12,000 and 13,000 of the 17,000 US Catholic churches applied for PPP loans, denying the lifeline meant for millions in their communities.
The study found that the larger the church, the more likely it was to have applied for federal aid.
Churches of all faiths have been advised to assess their needs as most technically qualify for PPP, but the move is causing a crisis of morality considering Jesus' teachings and the unregulated wealth held by the Vatican.
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The Jewish Federations of North America reported that 573 Jewish organizations were approved for PPP loans, with a total value of $276 million.
Among that group were 219 synagogues who received just over $50 million in loans.
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Poster Comment:
Those Jewish synagogues received an average of $283,310 each. Those synagogues must employ a lot of people, because that $283k figure works out to an average annual payroll of $1.4 million.
In the first round of PPP funding only 5% of small businesses that applied for a loan got one. But synagogues and churches -- especially Catholic -- did much better than that.
Everybody here knows these aren't really loans, right? The "loan" will be "forgiven" (i.e. you don't have to pay it back) if used for payroll.