What Is the Paycheck Protection Program?
Recently added as an SBA loan program, the Paycheck Protection Program (PPP) provides federally-guaranteed loans to eligible small businesses. Loans are the lesser of $10 million and a calculated amount based on payroll and may be forgivable. These loans are intended to help small businesses retain employees throughout and after the Coronavirus (COVID-19) crisis.
Currently, the Small Business Administration (SBA) has suspended its acceptance of PPP applications through the CARES Act. We are hopeful that federal funds will be reallocated to PPP in the near future. We encourage you to continue submitting applications, as this will mark your spot in line when applications begin processing again. As soon as SBA allows applications to resume, we will work diligently to finalize the processing of applications.
Apply for a PPP loan
Commercial Business Loans from MECU
At Members Exchange Credit Union, we understand your need for a trusted financial partner to achieve the level of success you deserve. That’s why we offer a variety of business loans and services to support your business needs.
Ready to talk about a business loan that meets your needs? Contact MECU AVP David Broadaway at 601-923-4317.
Please see types of business loans MECU offers below:
Commercial Real Estate and Investment Property Loans
- Heavy Equipment and Office Equipment
Lines of Credit
Church Real Estate Loans
Business Visa Credit Card
- No Annual Fee
- Great Rates
Small Business Administration (SBA)
Make a payment on your business loan
We are happy to answer any questions you have about loans for your business.
AVP Business & Specialized Lending