The Federal Government passed the Economic Aid Act continuing to support businesses impacted by COVID-19. The Economic Aid Act expanded the SBA Section 7(a) loan program, also referred to as the Paycheck Protection Program (PPP), which aims to support small businesses. We are encouraging our small business borrowers affected by COVID-19 to apply for a loan with DCCU under this new program.
Visit the Small Business Administration website for details regarding assistance for small businesses that can benefit from the Paycheck Protection Program.
- Program overview
- Borrower information
- Borrower Application Forms
PPP Loan Forgiveness
On December 27, 2020, legislation was passed that includes a provision to simplify the loan forgiveness process for loan amounts up to $150,000 under the guidance of the Small Business Administration (SBA).
DCCU is now accepting applications on behalf of the SBA in support of this simplified process. For loans up to $150,000 please complete SBA Form 3508S. In addition, DCCU continues to accept loan forgiveness applications for those loans greater than $150,000.
Visit the SBA’s PPP website for more detailed information on forms, requirements, conditions, and deadlines:
After your application is complete, please email it to: PPPForgiveness@mydccu.com.
Additional information will be provided as it becomes available.
Additional SBA Resources
In addition to traditional Small Business Administration (SBA) funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak. To learn more about what the SBA has available visit their Coronavirus Relief Options webpage.