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US Small Business Administration - Paycheck Protection Program (PPP) | Second Round of Funding

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Treasury and Small Business Administration have recently implemented the Paycheck Protection Program in an effort to assist small business owners whose business operations have been adversely impacted by the COVID-19 pandemic crisis through a short-term loan relief program.

Hapo Community Credit Union is participating in the SBA’s Paycheck Protection Program.  Due to the amount of interest in this program, at this time we are receiving applications from current HAPO business members only with accounts opened no later than February 15, 2020.  If you are not a current Hapo business member, please contact your primary financial institution for further assistance or visit U.S. Department of the Treasury - Assistance for Small Business at https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses

How To Apply:

To apply for funding, please complete the Paycheck Protection Program – Inquiry Form and provide the following additional information, required to underwrite your funding request:

2019 IRS Quarterly 940, 941 or 944 payroll tax reports

Payroll reports for a twelve-month period (ending on your most recent payroll date), which will show the following information:

  • Gross wages for each employee, including officer(s) if paid W-2 wages
  • Paid time off for each employee
  • Vacation pay for each employee
  • Family medical leave pay for each employee
  • State and local taxes assessed on an employee’s compensation

1099s for independent contractors for 2019 (to be excluded from wages)

Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan.

  • Include all employees and the company owners

Document the sum of all retirement plan funding that was paid by the company owner(s) (do not include funding that came from employees out of their paycheck deferrals).

  • Include all employees and the company owners
  • Include 401k plans, Simple IRA, SEP IRA’s

Our team will review all submitted applications to confirm all required documents have been received, as well as to confirm loan amounts.  We will work diligently to confirm your application has been received by SBA and processed in a timely manner. 

We are experiencing higher than normal call volume and appreciate your patience during this time.

Contact Our Team

HAPO
601 Williams Blvd. Richland, WA 99354
Phone: 509-943-5676