A Paycheck Protection Program (PPP) loan is a Small Business Administration (SBA) loan that helps businesses keep their workforce employed during the COVID-19 crisis.
This loan is designed to provide a direct incentive for small businesses to keep their workers on the payroll.
The SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.
You can apply through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Other regulated lenders will be available to make these loans once they are approved and enrolled in the program.
IU Credit Union is not an SBA lender; however, we have contracted with a well-known company in the financial industry to provide our members with access to the Paycheck Protection Program application. After completing and submitting an application, it will be forwarded to an SBA lender for review and processing.
Simply click on the link below to get started:
If you have any questions about the Paycheck Protection Program* or other business services questions, please contact us 812-855-7823.
*IU Credit Union will not participate in the review, processing, or ultimate decision made regarding your application. As a result, will not be able to provide any specific information related to any loans processed via the link/portal provided above.
We're ready to help you!
Give us a call at 812-855-7823 or toll-free 888-855-6928.
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