SBA Paycheck Protection Program (PPP)

As not-for-profit entities, credit unions:

  • ARE NOT eligible to apply for Paycheck Protection Program (PPP) loans from the U.S. Small Business Administration (SBA) even though the program received expanded eligibility within the American Rescue Plan Act.
  • However, credit unions ARE eligible for the Employee Retention Credit. View the League’s latest analysis.

For more information, please reference: Message from the League dated 03/29/21 -  PPP Clarification, Eviction Updates, and PCA Request & PPP Clarification, Eviction Updates, and NV Job Fair

SBA Releases Additional PPP Guidance

  • PPP: How to Calculate Maximum Loan Amounts for First-Draw PPP Loans and What Documentation to Provide (by Business Type)
  • Second-Draw PPP Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts (Including What Documentation to Provide)
  • Procedural Notice 5000-20077: PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to Borrowers, and Offset of Remittances to Lenders for Lender Debts
  • Procedural Notice 5000-20078: PPP Excess Loan Amount Errors


For more information, please reference: Message from the League dated 01/19/21 - Latest Guidance: PPP, CFPB, NCUA, FHFA and CDFI

The U.S. Small Business Administration’s Paycheck Protection Program (PPP) portal is now open.

For more information, please reference: Message from the League dated 01/15/21 - Cannabis Reg Proposals, Cal-OSHA, PPP & NCUA

PPP Overview from ‘Ask the Regulators’ Webinar

"Basics of New Paycheck Protection Program (PPP) Loan Programs"

For more information, please reference: Message from the League dated 01/12/21 - PPP Basics, CDFI App, CFPB Council, CA Legislature

U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) restarts Monday, Jan. 11.

For more information, please reference: Message from the League dated 01/08/21 - Latest on PPP, SBA, Treasury, and NCUA