COVID Resources for Businesses and Organizations

We know you’re doing your best to take care of your customers and your employees.

While you assess the current environment and future of your business, we want you to know that you’re not alone – Patriot is your partner with assistance and resources.

Note:Looking for personal assistance resources? Visit our COVID personal resources page.

The CARES Act, the COVID-19 relief bill passed by Congress, increased the role of the Small Business Administration (SBA) in efforts to assist businesses impacted by the pandemic. The SBA offers several programs – including the Paycheck Protection Program (PPP) loan and the Economic Injury Disaster loan (EIDL) – to ease the economic impact of COVID-19 on your business. Both loans are available to businesses with 500 or fewer employees that have been negatively impacted by the crisis.

Payroll Protection Program (PPP)

As part of the newest stimulus package, additional funding has been made available for the Paycheck Protection Program (PPP). This includes loans for first time PPP borrowers as well as businesses that meet certain eligibility requirements for the “PPP Second Draw” program, also known as PPP2.

Beginning Friday, January 15, Patriot Federal Credit Union is now accepting new, eligible PPP loan applications. See below for more information and how to apply.

PPP Loan – First Time Borrowers

Eligibility: PPP first-time borrowers include –

  • Businesses and not-for-profit organizations, including churches, with 500 employees or fewer, even if they are eligible for other SBA 7(a) loans
  • Sole proprietors, independent contractors, and self-employed individuals
  • Eligible businesses in the accommodation and food services industry (NAICS Code 72) with 500 or fewer employees per location
  • Eligible 501(c)(6) business organizations, such as chambers of commerce, visitors bureaus, etc., with 500 employees or fewer
  • Eligible news organizations (NAICS code 511110 or 5151) with 500 or fewer employees per location

Apply Online

To apply, please use our online application (This is a downloadable PDF – after completing form, save, and email along with the required documents listed in the Application Instructions to [email protected]). When applying, you will likely be asked for documents and information such as:

  • Ownership information including your Tax Identification Number (TIN)
  • Reports from your payroll service provider
  • Payroll tax filings (IRS Form 940, 941, or 944)
  • Information detailing your employer-paid benefits
  • Information about employer-paid state/local taxes

Please Note: In order to avoid a delay in the application process, it is important that the application is complete and is accompanied by the appropriate documentation.

PPP2 Loan – Second Draw 

Eligibility:

  • Small businesses and not-for-profit organizations that HAVE received a previous PPP loan (“second-draw” borrowers) may submit applications for a second PPP loan. To be eligible for a second-draw PPP loan, an applicant must meet ALL the following requirements:
    • Has 300 or fewer employees
    • Has used the full amount of the funds from their first PPP loan before receiving funds from the PPP2 loan
    • Experienced a 25% decline in gross revenue during any quarter in 2020 (compared with the same quarter in 2019), or had overall revenue in 2020 reduced by at least 25% compared to 2019 
    • Is not a debtor in a bankruptcy proceeding at the time of the application or at any time prior to receiving the funds 

 

FAQs for PPP2:

  • How Much Can I Borrow?

    • Borrowers can apply for PPP2 loan amounts up to 2.5x their average monthly payroll (as measured during any 365-day period beginning January 1, 2019), except for eligible businesses in the accommodation and food services industry, which can apply for up to 3.5x their average monthly payroll 
    • The maximum PPP2 loan amount is $10 million for first-time borrowers and $2 million for second-time borrowers


  • Can PPP2 Loans Be Forgiven?

    • Eligible borrowers who use PPP2 loan funds for approved expenses during the 8- to 24-week period after they receive their funds (the “covered period”) may have some or all of their loan amount forgiven
    • As in the first round of the PPP, borrowers must spend 60% or more of their PPP2 loan funds on payroll expenses during the covered period to be eligible for full loan forgiveness


  • How Does PPP2 Offer More Flexibility Than The First Round?

    • PPP2 gives businesses more flexibility with an expanded list of approved expenses that are eligible for forgiveness, including covered operations expenditures, supplier costs, property damage costs, and worker protection expenditures
    • Loan funds that are not forgiven are subject to a low 1% interest rate

 

Apply Online

If you would like to apply for a PPP2 loan through Patriot Federal Credit Union, please use our online application. (This is a downloadable PDF – after completing form, save, and email along with the required documents listed in the PP2 Application Instructions to [email protected]) When applying, you may be asked for documents and information such as:

  • Ownership information including your Tax Identification Number (TIN)
  • Reports from your payroll service provider
  • Payroll tax filings (IRS Form 940, 941, or 944)
  • Information detailing your employer-paid benefits 
  • Information about employer-paid state/local taxes

 

Please Note: Returning PPP borrowers who worked with us to receive their first PPP loan may have a more streamlined application process, as we will already have some of the required business information. In order to avoid a delay in the application process, it is important that the application is complete and is accompanied by the appropriate documentation. 

Have Questions on the PPP Loan Program? Please contact one of our business service team members

 

 

Additional helpful links related to the PPP Loan Program:

 

SBA Economic Injury Disaster Loans (EIDL)

Available directly through the SBA, this loan aims to help small businesses overcome the temporary loss of revenue with an advance of up to $10,000.

Apply for EIDL through the SBA

 

PA Department of Community and Economic Development (DCED)

Statewide grant program administered by DCED to support small businesses impacted by COVID-19. Funds are available through three programs: Main Street Business Revitalization Program, Historically Disadvantaged Business Revitalization Program, and the Loan Payment Deferment and Loss Reserve Program.

Eligible businesses can use the grants to cover operating expenses during the governor’s order related to the closure of non-life-sustaining businesses and have or will incur costs to adapt new business operations. Funds can also be used in the transition to re-opening and for technical assistance including training and guidance to stabilize and re-launch businesses.

For more information on grants available through these programs, contact the Harrisburg Office of the Community First Fund which serves businesses in Franklin County.

 

Together We Serve Grant

Grant program to assist non-profit organizations providing crucial human services to Washington County (MD) residents during the pandemic public health crisis. Eligible uses of this funding include: provision of essential supplies and food, costs of personal protective equipment for employees providing services, costs associated with virtual delivery of services, costs related to ensuring emergency and homeless shelters operate safely, cost of temporary positions to meet increased service demand, and more.

Funds are limited and available on a first-come, first-served basis. For grand guidelines and application, visit Washington County web site.

 

Additional Resources

 

More Sources of Information

 

Don’t Be a Scam Victim

While there are legitimate financial relief programs, there are also scammers who are using this as an opportunity take advantage of small businesses. It’s critical for small businesses to go straight to the source for accurate information about what’s happening at the SBA.  In addition, here are more tips to help you avoid scams targeting small businesses.

 

  • Sba-attorneys.com email scam: The U.S. Small Business Administration (SBA) has discovered an email scam originating from sba-attorneys.com that seeks to create alarm among Paycheck Protection Program (PPP) loan borrowers. The email falsely warns that PPP funds were issued to the recipient in error, and that immediate action must be taken to avoid “potential criminal liability.” If you receive such an email:
    • Consider marking the item as SPAM and deleting it from your inbox.
    • Please DO NOT reply to the sender or click on any of the message’s embedded links.
  • Scammers often mimic the look and feel of legitimate email. You’ve heard warnings for years about email phishing attempts. Fraudsters have upped their game in response. They’ve been known to copy logos of financial institutions and government agencies, including the SBA, and use wording that sounds familiar. They also manipulate email addresses so that a message looks to be from a legitimate source – but isn’t. That’s why it’s dangerous to respond to those emails. Instead go directly to the SBA site.
  • Don’t click on links. Say you get an email that says it’s from your bank or a government agency. Don’t click on any links. It could load malware onto your computer. If you think you may need to respond, pick up the phone and call the office directly, but don’t use a number listed in the email. That could be fake, too. Instead, search online for a genuine telephone number or call your banker using the number you’ve always used. Yes, now is a good time to keep in close contact with your financial institution, but employ the same established lines of communication you used before COVID-19 became a concern.
  • Be suspicious of unsolicited phone calls. Some scammers may try the personal approach by calling you and impersonating someone from a financial institution or government agency. Don’t engage in conversation. If you think you may need to respond, call using a number you know is legit.
  • Watch out for application scams. Some small businesses report they’ve received unsolicited calls or email from people claiming to have an inside track to expedite financial relief. The people contacting them may charge upfront fees or ask for sensitive financial information – account numbers, tax IDs, Social Security numbers, and the like. Don’t take the bait. It’s a scam. Applying for a loan was a step-by-step process before the Coronavirus crisis and it’s a step-by-step process now. That’s why the SBA’s sba.gov/coronavirus site is the safest place for you to start.
  • Alert others to Coronavirus relief check scams. Most people have read the news about Coronavirus relief checks that many Americans may receive. The FTC Consumer Blog has advice about spotting relief check scams. Share the tips with your co-workers, family, and social networks. If you spot a potential Coronavirus-related scam, report it to the FTC at ftc.gov/complaint.

 

Contact Us

Please contact us if you need assistance or have questions. We’ll be happy to help. You can reach us by:

  • Calling (888) 777-9982
  • Visiting our Business Services team page
  • Contacting one of our business lenders directly –
    • Karen Boyer                 (240) 850-7014
    • Eric Foreman               (717) 709-2514
    • Kim Shockey                (717) 709-2520