Phone Us at 509. 535. 0191 or toll free at 800. 828. 8691 or email us at info@progressionscu.org

Paycheck Protection Program

As part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the U.S. Treasury and Small Business Administration have recently implemented the Paycheck Protection Program in an effort to assist small business owners whose business operations have been adversely impacted by the COVID-19 pandemic crisis through a short-term loan relief program.

Progressions Credit Union is participating in the SBA’s Paycheck Protection Program and offering access to these funds to members who meet SBA eligibility requirements.

***TO APPLY CALL JAY WILLIAMSON AT 509.622.2019***

Note: This is limited and subject to the availability of appropriated federal funds through the SBA Paycheck Protection Program or the date of program expiration of June 30, 2020.

Information that you will need to gather:

  1. 2019 IRS Quarterly 940, 941 or 944 payroll tax reports
  2. Payroll reports for the 2019 calendar year; as well as, payroll reports for January 1, 2020 through March 31, 2020:
    • Gross wages for each employee, including officer(s) if paid W-2 wages
    • Paid time off for each employee
    • Vacation pay for each employee
    • Family medical leave pay for each employee
    • State and local taxes assessed on an employee’s compensation
  3. 1099s for independent contractors for 2019 (to be excluded from wages)
  4. Documentation showing total of all health insurance premiums paid by the company owner(s) under a group health plan.
    • Include all employees and the company owners
  5. Document the sum of all retirement plan funding that was paid by the company owner(s) (do not include funding that came from employees out of their paycheck deferrals).
    • Include all employees and the company owners
    • Include 401(k) plans, Simple IRA,  SEP IRA’s

Helpful Links:

Overview Sheet from SBA

Information Sheet for PPP Borrowers

 

    Co-Op logo and link to shared branching locator
     Bauer-Financial-5-Star-Rating Logo and Link
    Equal Housing Opportunity HUD Logo and link
    CU Direct Logo and link to AutoSmart
    National Credit Union Administration Logo and Link

     

     

     

    Progressions Credit Union Routing Number 325182687

    Progressions Credit Union – NMLS# 784627
 in partnership with Wescom Credit Union NMLS# 999430

    Assistance to Avoid Foreclosure / Terms of Use/Privacy/Other Important Disclosures

     

     

     

    Co-Op logo and link to shared branching locator
     Bauer-Financial-5-Star-Rating Logo and Link
    Equal Housing Opportunity HUD Logo and link
    CU Direct Logo and link to AutoSmart
    National Credit Union Administration Logo and Link

     

     

     

    Progressions Credit Union Routing Number 325182687 

    Progressions Credit Union – NMLS# 784627
 in partnership with Wescom Credit Union NMLS# 999430

    Assistance to Avoid Foreclosure

    Terms of Use/Privacy/Other Important Disclosures

     

     

     

    ×

    COVID-19 UPDATES CLICK HERE