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Celebrity pastor Joel Osteen’s giant church is paying back millions of dollars Receive COVID-19 disaster fund This caused strong opposition last year.
Lakewood Church, headquartered in Houston, received approximately $4.4 million through the Payroll Protection Program (PPP) to cover wages and other expenses, and closed for 7 months of on-site services last year. Houston Chronicle.
The church has received widespread opposition, and critics have called for the church to be separated from the state, especially considering that most churches in the United States are tax-exempt. Lakewood defended his decision, claiming that the money was not given to Osteen and his wife.
Lakewood said that PPP loans are crucial to them “at this time of need.”
The church said in a statement: “Like many organizations temporarily closed due to the pandemic, this loan provides Lakewood Church with short-term financial assistance in 2020, ensuring that its approximately 350 employees and their families will continue to receive salaries. And full medical benefits.”.
According to reports, Lakewood provided a statement from the bank stating that it has paid millions of dollars in loans since January.
According to data released by the Small Business Administration, Lakewood is one of at least 60 religious institutions in Texas. They have obtained more than $1 million in loans through the federal CARES Act. The first stimulus plan passed in bondage.
The plan has been controversial because it is the first time that the federal government has provided direct financial assistance to tax-exempt religious and non-profit organizations.
According to the legislation, churches and non-profit organizations with fewer than 500 employees are eligible for exempt loans if they are used to pay basic expenses (including wages and utilities). Those criticizing the plan argued that because loans are waived, they are technically a grant, which means that the government is subsidizing religious activities.
Although Lakewood chose to repay the money, it is not clear whether other churches will follow suit. We will inform you in time.
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