UCU is here to help small business owners

 

The Paycheck Protection Program (PPP) is a federal relief program that was designed to help small businesses affected by COVID-19 keep their employees on payroll. The Program is available based on SBA funding and applications will be processed as SBA funding is available. UCU is committed to helping our members with small businesses get the help they need.

 

Who is eligible for PPP?

 

First Draw PPP Loans are for those borrowers who have not received a PPP loan before August 8, 2020. Second Draw PPP Loans are for eligible small businesses with 300 employees or less, that previously received a First Draw PPP Loan and will use or have used the full amount only for authorized uses, and that can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. Currently, the SBA program is scheduled to be available through March 31, 2021 or until funding is exhausted.

 

To apply for the PPP, you must be an existing member of UCU in good standing* prior to applying. New UCU Members are not eligible for this program. For questions or problems regarding completing your online PPP application, please email support@loan-street.atlassian.net. Please do not contact UCU for we will be unable to assist you with completion on the LoanStreet web site. For questions, guidance, and information regarding the PPP program, additional resources are available at www.sba.gov/ppp.