Holy Rosary Credit Union is committed to creating lasting relationships with the local business community and the individuals who work so hard to make it successful. We know there are many questions concerning COVID-19 and how it is impacting your business. We have submitted our application to become a Small Business Administration (SBA) lender in order to meet the needs of COVID-related small business situations. We expect to be approved shortly. Whether you are looking for loans or advice, we are here to help.
We are committed to doing everything possible to assist during this time. Please call us to talk about your specfic situation and needs. If your business is eligible for SBA loan assistance, we can help you access these programs as well.
The Coronavirus Aid, Relief and Economic Security Act (the "CARES Act") was signed into law on Friday, March 27, 2020. While we have the application here, we cannot formally accept the applications until the SBA sends our approval. The act includes several programs to assist eligible businesses with the support they need to sustain payroll and pay other expenses during this unprecedented time. The SBA website provides the most current and accurate information on each new government program. Program details are changing frequently, and we are working continuously to provide the most timely and helpful information available.
SBA: Paycheck Protection Program (PPP)
This program is offered through the CARES Act and the Small Business Administration (SBA) and is designed to give loans to small businesses so they may continue to pay employees and cover other business expenses during the COVID-19 crisis. This loan may be fully forgivable, provided that businesses prove that the funds were used according to the guidelines. HRCU is an approved lender and small business may apply for the loan through our portal (simply click APPLY NOW below). You or your small business must be a member at HRCU to apply through this portal.
Please be aware that the government is only taking applications until the funds run out. As much as possible, we will process loans on a first come, first served basis. We cannot guarantee that your application will be processed before the funds are gone. If they are gone before you loan is processed, HRCU will work to submit any applications that were not processed if the government opens a second funding round.
Offers low interest loans to small businesses located in a declared disaster zone to help overcome the temporary loss of revenue they may be experiencing. Get the details.
The KC COVID-19 Small Business Relief Loan Fund is a new community-backed $5 million small business relief loan fund intended to provide immediate relief to local, small businesses experiencing extreme economic disruption and financial strain as a result of the necessary public health measures to “flatten the curve” and combat the virus. Learn more here.
KC COVID-19 Small Business Relief Loan Fund
We understand that you may have further questions concerning all of this and how it might affect your business. We are here to help. Call us at 816.221.2734 or email us at email@example.com.
Under the CARES Act, existing SBA borrowers whose loans are in good standing are relieved of any obligation to pay principal, interest and associated fees due after March 27, 2020 for a period of six (6) months. If you have a SBA loan with a financial institution, your banker/member representative will be contacting you with additional information. Additional details are available through the link. Get the details.
Partially funded by the Small Business Administration, this organization provides support to women business owners in the Kansas City metro. Resources are available on their website, including accessing needed capital. They also provide free counseling by phone at (913) 492-592 and email at firstname.lastname@example.org.
SBA: Economic Injury Disaster Loans and Loan Advance
Resources to help you further: