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Kellogg Community Credit Union
Business loans
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small business assistance 

Like you, we look forward to seeing your doors open, your employees working, and the health of our local economy strong once again. In the meantime, we’re here to help!


As a Business Member you can take advantage of any our KCCU Financial Relief programs and new federal regulations have created two new options to provide relief, the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loans (EIDL).

personal paycheck protection (PPP) loan

The Paycheck Protection Program is a $350 billion emergency lending program designed to provide small businesses with loans to help cover their operating expenses and maintain their workforce during a temporary period of severe market disruption.

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Who is eligible?

Any business in operation on February 15, 2020 with no more than 500 employees (or one that meets the SBA's size standard) may be eligible, including:

  • Small businesses

  • 501(c)(3) nonprofit organizations
  • Sole proprietorships
  • Independent contractors
  • Self-employee individuals
  • Tribal businesses
  • 501(c)(19) Veterans organizations

Benefits of the PPP

  • 2.5 times the average monthly payroll costs - up to $10 million
  • Fixed rate of 1% APR
  • All payments are deferred for 6 months
  • 2-year term
  • Up to 100% of the loan can potentially be forgiven with approval
  • No prepayment penalties or fees
  • No collateral is required.
  • Waiving the Credit Elsewhere SBA loan requirement

How can the funds be used? 

  • Payroll costs, including benefits
  • Interest on mortgage obligations, incurred before February 15, 2020
  • Rent, under lease agreements in force before February 15, 2020
  • Utilities, for which service began before February 15, 2020

Payroll costs include:

  • Salary, wages, commissions, or tips (capped at $100,000 on an annualized basis for each employee
  • Employee benefits, including:
    • vacation, parental, family, medical, or sick leave
    • allowance for separation or dismissal
    • payments required for the provisions of group health care benefits including insurance premiums
    • payment of any retirement benefit
  • State and local taxes assessed on compensation
  • For a sole proprietor or independent contractor: wages, commissions, income, or net earnings from self-employment, capped at $100,000 on an annualized basis for each employee

How long will this program last?

Although the program is open until June 30, 2020, you are encouraged to apply as quickly as you can since there is a funding cap. 

PPP Requirements

To process your application, please complete the following requirements:

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