TACU Credit Union is a Preferred SBA Lender
Paycheck Protection Program – Round 2
At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods.
Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.
Who May Qualify
A borrower is generally eligible for a Second Draw PPP Loan if the borrower:
- Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
- Has no more than 300 employees; and
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
Applying for the Paycheck Protection Program (PPP)
You can apply for a Second Draw PPP Loan from January 13, 2021, until May 31, 2021.
We know you may have questions as you navigate through the details of this program. Please know our team is working diligently to serve our members. Please contact Todd at 608.372.4736 for assistance with any questions or concerns.
To learn more about the Paycheck Protection Program, click here.
All loans are subject to other requirements and availability of funds under the SBA program. Funds are limited.
Call 608-372-4736 to talk to Todd to get started.