SBA Paycheck Protection Program
Help for Small BusinessesApr. 24, 2020
PNWFCU has been working hard to help our small business members through the COVID-19 crisis. We fought to get funding during the first and now second round of the Small Business Administration’s Paycheck Protection Program, helping our members stay in business.
What This Means for Local Businesses
Our lending team pulled an all-nighter to get 23 small businesses into the first round of the Paycheck Protection Program. Because of this, 23 local businesses can now pay their employees and cover the bills while we fight this pandemic together.
Here’s how two of our small business members responded:
“We have always been appreciative and grateful for the relationship we have built together over the many years that PNWFCU has served us as our only financial institution. PNWFCU has always gone above and beyond to service our banking needs. Now, as we face this world-wide health and economic crisis you step up, once again, to take care of us and prove just how valuable you are, not only to our business, but our community as well. Thank you!” – Kathy
“Dear Ryan, that is such good news, it will make a huge difference to my farming operation and my employees, some of which have been with me for 30 years! They are like family to me, and you have given us a great deal of hope – at least for this year producing apples, cherries, and pears in the Pacific Northwest. After reading the news lately about the PPP, I really did not hold much hope for being funded, so you and your team have done an amazing job.” – Karen
Second Round of Funding for Paycheck Protection Program
PPP resumes Monday, April 27. We are taking applications from existing members now. Since the first round of funds was claimed within two weeks, we expect this second round to go quickly, too. Please apply as soon as possible.
PNWFCU members can find the PPP application and instructions here to apply for these new stimulus funds. We will work hard to help as many small business members get into the program as possible.
As always, our goal is to be your financial partner for life.