Summary of PYM program News – Mid-March to Mid-May 2020
- PYM went from business as usual to work from home under Covid 19 distancing restrictions after four intense days of planning in the second week of March. In doing this we safeguarded staff health & wellness, developed a remote accounts payable system, secured necessary laptops and software, and implemented Zoom conferencing systems that served both staff and the Yearly Meeting.
Business and Finances
- PYM was funded for a Paycheck Protection Program (PPP) loan from the Small Business Administration (SBA) in April. The SBA gave specific guidance to faith-based nonprofits, encouraging them to apply. PPP loans cover 2.5x a small business’s average monthly payroll. The loan may be forgiven in full if the organization maintains its staffing and payroll levels for the eight weeks following funding, which PYM intends to do. The loan is welcome support in a time of financial uncertainty.