Business Relief Options

WECU is proud to be a top PPP lender!

PPP Loan Application Submission Date Extended

We are now accepting Second Draw applications (for members whose First Draw loan was with WECU). This will remain open until 5pm on Friday, May 14.

Borrowers who have submitted a PPP loan application must provide all supporting documentation required by the SBA by 5pm on Friday, May 21.

We will end all application processing at 5pm on Friday, May 28.

Borrowers who have applied, but have not yet received an SBA loan number by the time of the SBA’s May 31 cutoff will be notified.

Paycheck Protection Program 2nd Draw Loan

This product is to be used ONLY if you are applying for a SECOND Paycheck Protection Program loan and you have received your first draw loan with WECU.

*The 2nd Draw loan application requires you to enter your SBA loan number. If you do not know your SBA loan number and you received your first draw PPP loan through WECU, please enter WECU into the SBA loan number field.

Click here to apply for a 2nd Draw Paycheck Protection Program Loan. Please use these instructions and helpful tips when applying.

WECU will only process applications through our digital platform, which will allow for faster processing and direct access to the SBA’s systems via an integration.

PPP Forgiveness

We are now accepting Forgiveness Applications for all first round PPP loans funded in 2020. Please login to the portal to access the digital application and submit your documents.

  • When logging into the portal, please use the same email address as you did in your original PPP request. You may be asked to reset your password at the time of login.
  • While on your Dashboard page, click on “Marketplace” on the left side of the page and click “Apply” next to the appropriate Forgiveness option.
  • Once the application is submitted you will be prompted to upload documents. All PPP loans over $150,000 will require documentation at the time of application. If your loan is $150,000 or less, documentation is not required to process your first draw forgiveness request.
  • If documents are not required for processing your forgiveness application, you will still be required to maintain your documentation (Payroll for four years, other expenses for three years). We may request these documents at a later date.

In preparation for applying for forgiveness, please review the documentation requirements and instructions on the SBA Website. You may also review our PPP Borrower Source Reference Guide.

Here are some helpful tips to review before starting your application.

0% APR² Savings Secured LOC

12 month term line of credit, no monthly payment required, balance due at maturity.

Loan amount up to $100,000.

Deferred-Payment
Line of Credit

2 year term line of credit, monthly interest-only payments, no loan origination fee.³

Loan amount up to $50,000.

¹ Existing WECU Business Loans only. Loans must be current and at least 180 days old.
² APR = Annual Percentage Rate. 0% APR line of credit must be secured against a WECU Business Savings account.
³ Deferred-payments line of credit is a revolving line of credit with 2 year term. Balance due at maturity. Requires a WECU Business Checking account with Monthly Auto-Pay.
Members applying for assistance may be asked to provide proof that they are affected by COVID-19.