Updated 05/04/2021


Update 05/04/2021

On May 4, the Small Business Administration (SBA) announced that PPP loan funds are now only available for particular financial institutions (including Certified Development Companies, SBA Microlenders, Community Development Financial Institutions, and Minority Depository Institutions). To find an eligible lender participating in PPP Loans, please click here to be directed to SBA's website. 

Additional COVID-19 Relief resources can be found on the Small Business Administration's website.

Update 03/19/2021


On March 18, a new Paycheck Protection Program (PPP) Loan Borrower Application was released. Please see below to download these forms. To get started on your PPP Loan application, contact an experienced UBU Lender today! 
 

Update 03/04/2021


On March 3, new loan applications were released including a new application for Schedule C filers. Please see below for all applications and for more information relating to each. 
 

Update 02/17/2021

On February 17, the Small Business Administration released revised PPP Loan Borrower Applications for First Draw and Second Draw Borrowers. Those forms can be found below.
 

Update 1/11/2021 
On December 27, a COVID relief stimulus bill was passed that included stimulus relief for businesses all across the United States. A second round of Paycheck Protection Program (PPP) loans is now available for both first-time borrowers and second-time borrowers. 

The Small Business Administration (SBA),  in coordination with the U.S. Treasury Department, has re-opened the PPP loan application process with two different application options, one for new PPP loan borrowers (referred to as First Draw applications) and one for existing PPP loan borrowers (also called Second Draw applicants).


First Draw PPP Loan Information
Application

NOTE: United Bank of Union is no longer accepting PPP loan applications as of May 4, 2021
Who Qualifies as a First Draw Applicant?  First Draw Applicants are individuals who did not receive funds in the initial PPP Loan Program available in 2020. 
What Are Qualified Uses for PPP Funds?  PPP funds can be used for a variety of business-related expenses including, but not limited to, payroll expenses, mortgage interest, utilities, and more. For a full comprehensive list of qualified expenses, please visit the SBA's website by clicking here. 
When Can I Apply?  Applications for First Draw PPP Loans are available January 11, 2021 through March 31, 2021. 


Second Draw PPP Loan Information
Application

NOTE: United Bank of Union is no longer accepting PPP loan applications as of May 4, 2021
Who Qualifies as a Second Draw Applicant? 

Second Draw Applicants are individuals who were eligible for, and received, funds from the initial PPP program in 2020. 
General requirements are as follows:

- Applicants must have applied for and received PPP funding in 2020 and have used or will use those funding prior to
disbursements from the Second Draw loan 
- Fewer than 300 employees
- Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. 
When Can I Apply? Applications for Second Draw PPP Loans are available January 11, 2021 through March 31, 2021. 

For more information and for additional resources relating to the PPP Loan Program, please visit the Small Business Administration's website by clicking here

For help with your loan and to discuss your options, please contact your United Bank of Union loan officer. Contact information for a UBU lender can be found by clicking here, or by filling out our Contact Inquiry Form. 

Applications can be submitted via several channels:
  • via email to your UBU loan officer
  • dropped off at any UBU branch location and addressed to a loan officer or to Tracy Ward, Coordinator of UBU's PPP Loan Program

Update 7/9/2020 

United Bank of Union is now accepting forgiveness applications for the Paycheck Protection Program (PPP) loans. At this time, the Small Business Administration has issued two different application options for forgiveness. Businesses will need to review these two forms and their instructions, listed below, to determine which application applies to them. Additionally, businesses will also need to decide whether they will elect for the 8-week forgiveness period or the 24-week forgiveness period. With both of these elections, businesses will submit the forgiveness application documents once all PPP loan proceeds have been used on eligible expenses, as outlined in the instructions below. 

If you have any questions regarding this process, please contact your UBU loan officer. Once you have completed the forgiveness application and have all of the required documentation, your paperwork can be uploaded through our secure portal by clicking here(Opens in a new Window), or can be mailed or dropped off at any United Bank of Union branch. For more information regarding our hours and operation by branch, visit our Locations tab.