SBA Payroll protection program
The new Coronavirus relief and stimulus package signed on December 27, 2020 provides an additional $284 billion in Paycheck Protection Program (PPP) and the program has been extended to March 31, 2021, or until funding runs out. If you require funding, please follow the steps below:
Step one
Step two
Determine which application you'll need to apply
- If you have not applied or received PPP funding, complete the First-Draw PPP Loan application
- If you previously received a PPP Loan, complete the SBA PPP Second-Draw application
Step three
Gather Required Supporting Documents
Supporting documents are required to verify the following:
- The business or non-profit was operating on February 15, 2020 and remains in operation
- The number of employees
- The average monthly payroll calculation
- Second-Draw applicants must demonstrate at least a 25% reduction in gross receipts in any quarter of 2020 relative to the same quarter in 2019 or annualized.
Examples of the required documents are: payroll records, W3s, IRS 940s or 941s, and Tax Returns
Step four
When you're ready to submit your application, click "apply now" below
Once your application is complete, including all required documentation, it will be added to the queue for processing. First-Draw requests will be prioritized over Second-Draw requests.
Since high volumes are expected, applications will be processed in the following priority order:
- Existing SCU Business Members
- Existing SCU Members
- Non-Members (Opening of an SCU Business Account will be required)
You will be contacted when you application is being processed.
