PPP Loan Applications
P1FCU values your membership and understands the hardships you have endured during the past year. As your community and financial partner, we are here for you. We are an SBA (Small Business Administration) approved lender for the Paycheck Protection Program (PPP) and are here to assist you through the process.
The SBA is not currently accepting 2nd Draw PPP Loan Applications for borrowers that received a 1st Draw PPP Loan in 2021. P1FCU will monitor this situation and post updates as they become available.
On December 27, 2020, the Economic Aid Act became law. This act extended authority to make Paycheck Protection Program (PPP) loans through March 31, 2021. Your business must meet specific eligibility requirements for approval, and you must be able to support and certify all claims made during the application process. To expedite the handling of your application, please have your 2019 tax records (Sch C, 1065, Sch F, 941, etc.), as well as those same forms for 2020 even if you have not filed your taxes yet for 2020. If you are applying for a second Draw PPP Loan, you will also need to provide financials showing a reduction in revenue (gross receipts) of at least 25% from any quarter in 2020, relative to the corresponding quarter in 2019, or a reduction in revenue (gross receipts) of at least 25% in all of 2020 relative to 2019.
Once you have the proper documentation, you may start your application by following the link provided below:
Once your application is received, a PPP Specialist at P1FCU will contact you to complete the process. If you have any questions along the way, please email firstname.lastname@example.org, and a team member will be happy to assist.
For additional resources related to the PPP, please visit www.sba.gov or www.treasury.gov for more information, including the comprehensive program rules.
PPP First Draw Loans – Overview
PPP Second Draw Loans - Overview
During economic uncertainties, it is essential to have someone on your side. P1FCU is here for you every step of the way because we are stronger together.
For more information email email@example.com or call us at 208-746-8900.
Non-Members, please check here for membership eligibility.
For more information about PPP Loan Forgiveness click here.