Existing Paycheck protection program applicants 

1/11/2021

SBA Application Deadline to apply: May 31, 2021

Chaffey FCU Application submission Deadline: May 12,2021

Eligibility:

  • 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

  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters

  • Operational before February 15, 2020 and remains operational

Visit www.sba.gov or www.treasury.gov for more information and details, including the comprehensive program rules.

How To Submit Your Application

Once you have filled out the form below, we will be sending you an email to securely send your documents to our team.

Full Forgiveness Terms:

Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan;

  • The loan proceeds are spent on payroll costs and other eligible expenses; and

  • At least 60 percent of the proceeds are spent on payroll costs.