Important Update: Please submit your SBA PPP application and supporting documentation no later than June 19, 2020. ECU will accept SBA PPP applications through June 19, 2020 if SBA funding remains available.
You may have heard about the Paycheck Protection Program (PPP), a loan backed by the U.S. Small Business Administration (SBA) and designed to help small businesses impacted by the COVID-19 pandemic. This loan can be used to cover costs including payroll, rent, and utilities.
ECU has been approved by the SBA to offer PPP loans to members. Although the first round of funding was depleted on April 16 before ECU’s participation, an additional $310B was appropriated in legislation finalized on April 24, 2020. ECU expects the SBA will resume approving PPP loan guarantees on April 27, 2020 or soon thereafter.
If you would like to participate in this program, please complete this form to let us know you are interested.
For business who have yet to contact ECU, we encourage you to do so immediately. ECU is experiencing high demand for PPP loans and experiencing delays in scheduling appointment times to accept PPP applications. Due to the popularity of this program, there is no guarantee that applicants will receive an SBA PPP loan because demand for the program is so high.
Take a moment to review the information below. You can familiarize yourself with the application, requirements, and other documentation required to apply for the program:
ECU Loan Amount Worksheet
PPP Information Sheet
FAQ for Faith-Based Organizations
For additional information on the Payment Protection Program from the Small Business Administration, click here.
We appreciate your patience and look forward to accepting applications soon. Once you have completed this form, you will be notified when ECU can begin taking applications.