small business assistance
We know that your business is your livelihood and we want to do everything we can to help you thrive and succeed. But we understand that sometimes things happen, and you may need a little assistance, please know that we are here to help!
PPP Forgiveness is now open
If you took advantage of the PPP Loan you may have questions on the next steps for loan forgiveness. Below are resources to help you through the process and feel free to reach out to KCCU with any questions you may have.
Resources & Applications
- Forgiveness checklist
- PPP Loan Forgiveness Instructions/Eligibility
- EZ Loan Forgiveness Application
- Loan Forgiveness Application
- Loan Forgiveness Application ($50,000 or less)
- Loan Forgiveness Application Instructions ($50,000 or less)
Submit your PPP forgiveness documentation using any of the following secure methods:
- Upload via Send My Docs
- Fax to (269)-213-8852, Attn: Business Services
- Mail to P.O. Box 140, Battle Creek, MI 49016-0140, Attn: Business Services
- Deliver to any one of our Kellogg Community Credit Union branches, Attn: Business Services
Important Updates & Reminders
KCCU has gathered what we deem to be very important updates and/or reminders to the PPP loan offered through the Cares Act. We encourage all our members to visit the SBA website for a complete explanation on PPP loans and the forgiveness process.
- Under the CARES Act, authorized funds for the program expired on August 8, 2020, allowing for no new loans to be issued after this date.
- Employee salary eligibility remains capped at $100,000.00
- Congress passed legislation extending the usage period from 8 weeks (June 30, 2020) to 24 weeks (December 31, 2020).
- The amount allowed for non-payroll uses (rent/utilities) of PPP loan funds increased from 25% of the loan to 40%.
- The required amount allocated towards payroll expenses decreased from 75% to 60%
- Repayment terms extended from two years to five years for applications after June 5.
- All loans remain at an interest rate of 1%
- Forgiveness may not be affected by a reduction in employees if the borrower is able to document an inability to rehire individuals, to hire similarly qualified employees, or to return to the same level of business activity as it was operating at before February 15, 2020
- Lender has up to 60 days from the time the member completes the application to submit the request to the SBA for forgiveness.
- If you received an EIDL Advance in addition to the PPP loan, that amount will be subtracted from the forgiveness amount of their PPP loan.
Need further assistance?
If you have questions or need additional business relief assistance, please call 269-968-9251 or complete the Business Relief Assistance Form