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Illustration of business buildings
Illustration of business buildings
Illustration of business buildings

We're here for you.

While you assess the effects of the COVID-19 pandemic on your business, we want you to know that you're not alone.

PPP is back!

Congress has extended the deadline to apply for a PPP loan to August 8 th, 2020.

If you’re a small business owner or sole proprietor, make sure to take advantage of this once-in-a-lifetime fully-forgivable loan. We want to help keep your business strong and provide jobs for our community.

Learn more

STCU is here to help, and resources are available.

The COVID-19 pandemic has upset global financial markets, supply chains, and employment, raising questions about the future economic outlook . The best thing we can do is focus on what we can control.

Stay in contact with your STCU business banker, and please ask for help at any time. Your business is unique and we're ready to work with you on customized solutions for your needs.

Looking for personal resources? Visit our coronavirus personal resources page.

Financial relief.

The new CARES Act, the coronavirus relief bill recently passed by Congress, offers several programs — including the Paycheck Protection Program (PPP) loan and the Economic Injury Disaster loan (EIDL) — to ease the economic impact of the COVID-19 crisis on your business.*   Compare EIDL and PPP (PDF).

Paycheck Protection Program (PPP).

The PPP is designed to keep your workers on the payroll. The loan amount is based on your historical payroll and may be forgivable. 60% of the loan should be used to meet payroll and up to 40% may be used for most mortgage interest, rent, and utility costs over the covered period after the loan is made.

Learn more about PPP:  STCU FAQ (PDF) | U.S. Treasury FAQ (PDF)

Start your application

Not a member?

Join STCU ! Once you're a member, you can apply for the Paycheck Protection Program.

Economic Injury Disaster Loan (EIDL).

The EIDL aims to help businesses overcome lost revenue. Starting June 15, the SBA is accepting applications from all eligible businesses. Learn more at sba.gov.

Additional resources.

Contact us.

Please contact your STCU business banker. They'll be happy to help answer questions you may have. You can reach the Commercial and Business team by:


Disclosures

*All loans subject to approval.