COVID-19 Small Business Relief

SECU Paycheck Protection Program

SBA’s Paycheck Protection Program (PPP) has run out of funding. We regret that we are unable to accept applications at this time. Please continue to directly connect with your SECU Business Relationship Manager for any questions related to this program, or submit an inquiry for additional financial guidance.

Need additional program information? Click here, to review details provided by SBA (opens in new window).

SECU Paycheck Protection Program Forgiveness

For members who have PPP loans with SECU, and are seeking forgiveness of these loans, please click and download each of the documents listed below.

PPP Loan Forgiveness Application

PPP Loan Forgiveness EZ application

Once you have completed the application for PPP Forgiveness, please email the form along with the required supporting documentation to: ppploanforgiveness@secumd.com

Please allow 2 days for a response from a SECU Business Relationship Manager.

For more information to aid you in this process, please see some helpful links and documents below. We look forward to serving you.

To review frequently asked questions about PPP Loan Forgiveness please click here.

For general information regarding SBA PPP Loans, click here.

For instructions on how to complete your application, below are some helpful links you can click and download.

PPP- Supporting Material

PPP Loan Forgiveness Instructions

For PPP2 Loan Forgiveness, the following costs are eligible:

Payroll costs (including group life, disability, vision, or dental)
Mortgage Interest
Rent
Utility Payments
Covered worker protection expense
Supplier costs that are essential to an applicant’s business
Operational expenses such as software, cloud computing and other HR/Accounting
Property damages related to 2020 public disturbances not covered by insurance
60/40 split between payroll and other costs. Payroll must be at least 60% but can be more.

The information contained on this site is provided for informational purposes only and is subject to change. It is not guaranteed to be current, correct or complete. Further, the information is not intended to provide any legal, tax, accounting or other advice. Viewers are urged to consult with and engage their own attorneys, accountants or other advisors if any professional advice is needed.

Additional Support

Personal Relief Loan

SECU is offering a Personal Relief Loan to help get you through this tough time. If you’re experiencing a financial hardship and need more immediate access to funds, this loan is designed to provide you with:

Up to 60 month term
Deeply discounted interest rate
$300 minimum – $10,000 maximum

Apply Now

Note: Select Personal Loan, then Signature Loan, then Relief Program

You can also call us at: 800-879-7328. Choose option 2, then option 3, then 1 (Please be advised: we are experiencing higher than normal call volumes and appreciate your patience during this time.)

Hardship Support & Consultations

We are here and ready to help you. Please reach out with any questions you have about how we can help your business during this challenging time and a Business Relationship Manager will set up a consultative call to discuss your specific needs.

Contact Hardship Support