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First Alliance Credit Union is currently accepting and processing Paycheck Protection Program first draw and second draw applications for our members. To begin the application process for this program complete the form on this page and your application documents will be emailed to you immediately, along with any additional instructions. Applications for the program will be accepted through May 31, 2021.
The 2021 Consolidated Appropriations Act (CAA) was signed into law on December 27, 2020. The CAA provided the funding needed reopened the Paycheck Protection Program (PPP). This $284-billion program is intended to provide small businesses with 8 to 24 weeks of financial assistance through 100% federally guaranteed loans.
The Paycheck Protection Program (PPP) is open to new qualifying borrowers of “First Draw” PPP loans, provides opportunities for certain borrowers of existing PPP loans to increase their First Draw loan, and create an opportunity for certain businesses to obtain a “Second Draw” PPP loan.
Additional details about applying for PPP loan forgiveness will be sent to you in the coming weeks after your application has been accepted by the SBA.
The Paycheck Protection Program is being administered by the Small Business Administration (SBA), however small business must apply at through a qualified financial institution, like First Alliance Credit Union. If you are not yet a member of First Alliance Credit Union you will need to apply for a business membership before we can process your application for this program.
We're here to help you and your business through this difficult time. For questions about this program or other relief options for your business, please call our dedicated team at 507-288-0330 or email firstname.lastname@example.org.