Forgivable Loans to Help Your Business or Nonprofit Weather the Crisis
The Small Business Administration (SBA) reopened the Paycheck Protection Program through March 31, 2021. This round of the PPP allows the hardest-hit small businesses and nonprofits to apply for a 2nd Draw PPP loan. Small businesses and nonprofits who have not yet received a PPP loan will also be eligible for relief.
We know that in these uncertain times, you are eager to support your employees and manage your organization by accessing these forgivable loans. In this round, we will be able to provide PPP loans for some borrowers. Read on to learn how to pursue getting a PPP loan with Self-Help or another lender.
See our PPP lending impact page
If you already have a PPP loan with Self-Help:
Links to apply for a 2nd Draw PPP Loan were sent to all existing Self-Help PPP borrowers on Friday, January 15th. If you are an existing PPP borrower with Self-Help and did not receive your link, please contact us.
If you already have a PPP loan with another lender:
Timing is critical as limited funding has been appropriated for PPP loans. If you received your 1st PPP loan from another lender, we strongly encourage you to contact that lender for your 2nd Draw PPP loan – your existing PPP lender should be able to process your 2nd Draw PPP loan most quickly.
If you do not already have a PPP loan:
At this time, Self-Help’s first responsibility is to provide 2nd Draw PPP loans to the hardest-hit nonprofits and small businesses who relied on us for their 1st PPP loans. If PPP funds continue to be available once these borrowers have been served, Self-Help will be able to work with additional small businesses and nonprofits.
As in the previous rounds of PPP, Self-Help expects to focus on assisting nonprofits and small businesses run by women and people of color to obtain a 1st PPP loan or a 2nd Draw PPP loan. We're also focusing the program in areas where we have a credit union branch presence, including North Carolina, South Carolina, Florida, California, Chicago, Milwaukee, and Eastern Washington.
We cannot guarantee that we will be able to serve you, but you may fill out this form to provide us with your information. In the event we are able to work with you for a PPP loan, we will contact you.
If you have not yet received a 1st PPP loan, or if your existing PPP lender is not offering 2nd Draw PPP loans, you can find a list of PPP lenders on SBA’s website at www.sba.gov.