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Welcome, log in to Online Banking
Important Notice
You are accessing a secure site with confidential information which is restricted to authorized persons only. Unauthorized access or use is not permitted and constitutes a crime punishable by law. Violators will be prosecuted to the fullest extent of the law.
The Consolidated Appropriations Act, 2021, was signed into law on December 27, 2020. It enhances and expands certain provisions of the CARES Act and changes the Paycheck Protection Program (PPP) by authorizing additional liquidity for a second round of PPP loans and expanding PPP borrower eligibility in some instances. There are also changes that will impact both new and existing PPP borrowers including simplified forgiveness of loans $150,000 and less.
On January 6, 2021, the SBA issued two Interim Final Rules that address PPP loans both to first-time borrowers (First Draw PPP), as well as new PPP loans to businesses that previously received a PPP loan (Second Draw PPP). The program expires on March 31, 2021, unless funds are exhausted sooner.
UPDATE: The Credit Union has been advised that the Paycheck Protection Program funding for most financial institutions has been exhausted and that the SBA’s portal has stopped accepting applications for new PPP loans. As a result, the Credit Union’s loan application portal has been closed.
Our support of the SBA First Draw PPP loans is limited to existing business members. To verify eligibility, please complete the attached form and send to Business.Lending@DeltaCommunityCU.com. Verification forms must be completed and sent by April 30, 2021 to be considered due to our application deadline of May 5, 2021. We appreciate your patience, as expected volume and capacity constraints may lead to longer than typical response times.
Our support of the SBA Second Draw PPP loans is limited to members that received their first PPP loan with Delta Community. You should have received email correspondence from Delta Community with next steps on January 19, 2021. In the event you did not receive an email, and you received your first PPP loan with Delta Community, please email us by April 30, 2021 at PaycheckProtectionProgram@DeltaCommunityCU.com.
It should be noted that we will not accept paper applications for either First Draw PPP or Second Draw PPP loans. Only eligible applications submitted through our online portal will be accepted.
Once the Credit Union begins processing PPP First Draw and PPP Second Draw loans, we will continue to review and verify completed applications for submission to the SBA until the funding cap is reached. Because there is not a pre-determined cut-off time for the SBA to discontinue the program, we cannot guarantee SBA approval for any application.
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