ACFCU is now accepting Paycheck Protection Program (PPP) applications from eligible self-employed individuals and businesses that may wish to apply for PPP loans reauthorized under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (the “Act”). Current ACFCU members and those who qualify for new membership will be eligible to apply.
PPP Applications should be emailed to firstname.lastname@example.org and a member of our business lending team will follow up with you. Applications are in the PPP Resources section below.
These forms are the most up-to-date drafts available from the SBA but may be subject to change.
Eligible self-employed individuals and businesses with 500 or fewer employees who did not previously receive a PPP loan may apply for a PPP loan (subject to all other applicable application requirements and program rules).
Previous recipients of PPP loans will be eligible for a second loan if, among other requirements, they:
ACFCU is asking applicants who already received a PPP loan in 2020 to take part in the forgiveness application process for that loan as they apply for a second PPP loan. This may help ensure forgiveness of both PPP loans by the SBA.
Our members with PPP Loans have received an email with a link to the Loan Forgiveness Application. Please let us know if you have not received it. This email includes a step-by-step guide to help you navigate the system. It is recommended that you access the portal using the Google Chrome browser.
If you do not wish to start the forgiveness process now, please contact us. Some members are choosing to wait in hopes that Congress will approve the bill to automatically forgive all balances below $150,000. You may also let us know if you are only requesting forgiveness on a portion of your balance.
You can contact us at email@example.com with questions.
When going through the portal, please keep in mind the following: