COVID-19: Small Business
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. 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 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.
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. We are NOT currently accepting applications.
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.
SBA Debt Relief
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.
SBA: Economic Injury Disaster Loans and Loan Advance
Resources to help you further:
Paycheck Protection Program (PPP) Loans
File for Forgiveness
(Link to website for forgiveness will be posted soon.)
A PPP Forgiveness FAQ can be found here.