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 first and second draw.
The Economic Aid Act includes more funding for the Paycheck Protection Program. The SBA is now accepting applications.
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 Economic Aid 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.*
Paycheck Protection Program (PPP) first and second draw.
The Small Business Administration (SBA) started accepting applications January 11, 2021.
Learn more about PPP or loan forgiveness.
Economic Injury Disaster Loan (EIDL).
To start your application, apply directly through the Small Business Administration (SBA) site. To learn more, check out their Cares Act page (scroll to bottom on the page for EIDL info).
Additional resources.
- Be ready to apply for forgiveness.
- Business and worker resources from Washington State.
- Community Advantage Recovery Loan from MoFi.
- COVID-19 resources from Greater Spokane Incorporated.
- Guidance for business & employers at sba.gov.
- Idaho Dept. of Labor COVID-19 page, with unemployment information, FAQs, and more.
- Restaurant Revitalization Fund from SBA. (starts early May)
- Unemployment benefit chart (PDF) for different COVID-19 scenarios from the State of Washington Employment Security Department.
- Webinars from the Small Business Development Center on business resiliency plans.
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:
- Calling (877) 304-7185.
- Visiting our team page.
STCU supports local business.
Throughout the pandemic and financial crisis, STCU and KREM have been encouraging consumers to support local businesses by giving away three $100 gift cards to a local business each month. Anyone can enter to win!
Disclosures
*All loans subject to approval.