Business Relief Options

Local helps local.

In these uncertain times, it's never been truer that we are in this together.
Our local businesses and non-profits are a vital part of our community, and WECU is here to help you through this difficult time. For businesses and non-profits financially impacted by the Coronavirus, we are offering special Business Relief Loan and CARES Act Loan options.

Monthly Loan Payment Deferral

Up to three payments.¹

No loan fees.

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.

Line of Credit

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

Loan amount up to $50,000.

CARES Act Options

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was recently approved by the Federal Government. Part of this Act, the SBA Paycheck Protection Program, allocated $350 Billion to help small businesses keep workers employed amid the pandemic and economic downturn.

We recently received the final details from the SBA. Accordingly, we are now finalizing our internal processes to begin accepting applications. At this time, we’re estimating the online application will be ready in the next 24-48 hours. Please note, existing WECU Business Members will receive priority for loan support.

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.