COVID-19 Business Assistance
The Paycheck Protection Program is a loan designed under the CARES Act to provide a direct incentive for small businesses to keep their workers on the payroll. As a SBA approved lender, Community Financial Credit Union is able to assist our business members in applying for the Paycheck Protection Program.
What you will need:
A detailed statement of ALL the intended uses for the loan (note: no more than 40% can be used for non-payroll related items.) You must detail the amount that will be used for payroll, rent, interest and utilities.
Payroll records for all employees for the last year (This must be a detailed register so we can determine if any individual makes over $100,000. This can be for the period 1/1/2019 – 12/31/2019.)
The last 5 quarters of payroll (941) tax forms (January 1, 2019 – 3/31/2020)
Completed Beneficial Ownership Certification
Completed Request for Transcript of Tax Return (Form 4506-T)
Completed Paycheck Protection Program Application
Completed Payroll Calculation for the period 4/1/2019 – 3/31/2020
If you own additional entities, please complete Addendum A
Please gather/complete the above information and then give us a call at (877) 937-2328, and press 8. Team members are available Monday – Friday from 8:30 a.m. – 5:00 p.m.
In addition, an Economic Injury Disaster Loan Emergency Advance is available through the SBA. This loan advance will provide up to $10,000 of economic relief to businesses that are currently experiencing temporary difficulties. Applications can be made directly through the SBA.
Business Loan Options:
- Commercial Real Estate Mortgages
- Commercial Auto Loans
- Equipment Loans
- Business Lines of Credit
- Business Mastercard® with Easy Savings