Effective April 1, 2021, FCU will no longer accept new PPP loan applications.
Thank you for trusting Florida Credit Union with your Small Business Administration (SBA) Paycheck Protection Program (PPP) loan.
Existing PPP Loan members: please continue your application from the button below:

PPP Loan Origination and Loan Forgiveness Requirements:
On January 6th, the Treasury Department and Small Business Administration released two interim final rules related to the administration of the Paycheck Protection Program:
- Interim Final Rule: Paycheck Protection Program as Amended by Economic Aid Act (1/6/2021)
- Interim Final Rule: Second Draw Loans (1/6/2021)
The new program allows for PPP loans to both first time applicants (First Draw PPP Loans) as well as to businesses that have already received a PPP loan (Second Draw PPP Loans).
Eligibility Requirements
First Draw PPP |
Second Draw PPP |
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o Corporation, partnerships, and LLC(s) o Non-profit organization o Housing cooperative o Veteran’s organizations o Tribal Businesses o Self Employed o Sole Proprietors o Independent Contracts o Small agricultural cooperatives |
Loan Terms
First Draw PPP |
Second Draw PPP |
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Documentation Requirements
First Draw PPP |
Second Draw PPP |
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*Payroll documentation tips, per business type:
- If business entity (EXCEPT self-employed, single member LLC, sole proprietor or independent contractor):
- The SBA requires:
- 941 IRS forms for all 4 QTR’s, 940 IRS Form, W-3 IRS Form OR PEO Statement AND state quarterly wage unemployment insurance tax reporting forms (RT-6, but ONLY if unemployment insurance was included in payroll calculation) from each QTR in 2019 OR 2020 (whichever was used to calculate payroll), as applicable, OR equivalent payroll processor records, along with any retirement and employee group health, life, disability, vision and dental insurance contribution (if applicable).
- The SBA requires:
- If self-employed and HAS employees:
- The SBA requires:
- 2019 IRS Form 1040 Schedule C
- 941 IRS forms for all 4 QTR’s, 940 IRS Form, W-3 IRS Form OR PEO Statement AND state quarterly wage unemployment insurance tax reporting forms (RT-6, but ONLY if unemployment insurance was included in payroll calculation) from each QTR in 2019 OR 2020 (whichever was used to calculate payroll), as applicable, OR equivalent payroll processor records, along with any retirement and employee group health, life, disability, vision and dental insurance contribution (if applicable).
- A payroll statement or similar documentation from the pay period that covered February 15, 2020 must be provided to establish the applicant was in operation on February 15, 2020.
- The SBA requires:
- If self-employed and DOES NOT have employees:
- The SBA requires:
- 2019 IRS Form Schedule C
- IRS Form 1099-MISC (if applicable) OR bank statement OR book of record (i.e. profit & loss, journal, or ledgers) to establish that the applicant is self-employed
- A 2020 invoice, bank statement OR book of record (i.e. profit & loss, journal, or ledgers) to establish that the applicant was in operation on or around February 15, 2020 (all Revenue Reduction documents must be signed and dated on the first page and initialed on subsequent pages)
- The SBA requires:
Loan Forgiveness
First Draw PPP |
Second Draw PPP |
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Please contact the Florida Credit Union Commercial Team if you have any questions.
FCU is approved to offer SBA loan products under the SBA Express Program.