Paycheck Protection Program Loan Information

Small business owner looking over financial documents

In response to the COVID-19 pandemic and the adverse impact felt by our local businesses, TwinStar takes pride in being able to provide over $32 million in support of 725 businesses within our communities through the SBA Paycheck Protection Program.

We will be accepting PPP loan forgiveness applications for the SBA Second Draw PPP Loans through our secure online portal, beginning on September 1, 2021.

However, if your Second Draw PPP loan origination amount was less than $150,000, the SBA has pre-staged your completed SBA PPP Forgiveness application and can be submitted immediately. This application can be completed in less than five (5) minutes by going to https://directforgiveness.sba.gov/ and following the instructions provided by the SBA. The SBA has launched a new way to apply for Forgiveness and we are proud to offer this solution in the interim as a service to help you reach full forgiveness. Failure to complete this application will soon result in the requirement to begin making payments on this loan obligation. For further assistance with your application, you can access SBA PPP Direct Forgiveness Customer Service by calling 877-552-2692.

We appreciate your contributions to our community and the ability to continue to help support you and your business through these times.

For more information regarding additional pandemic relief funding programs offered by the SBA or further details of the SBA’s PPP Loan Forgiveness application, please visit www.SBA.gov.

If you have any questions regarding your PPP loan and/or the forgiveness process, please contact our Business Services team at BusinessServices@twinstarcu.com for further assistance.

Thank you for choosing TwinStar Credit Union to help support you, your business and your employees with all your banking needs during these difficult times. We’re here to continue to help support our members and communities that have been effected by the negative impacts from the COVID-19 pandemic.

 

Updated 8/10/2021