SBA Paycheck Protection Program
The United States Small Business Administration’s (SBA) Paycheck Protection Program (PPP) provides loans for small businesses. First Technology Federal Credit Union (First Tech) became an authorized lender for PPP loans, and started submitting applications to the SBA in the spring of 2020. On May 5th, the SBA made the decision to continue PPP lending only through community financial institutions, which are: Certified Development Companies (CDCs), SBA Microlenders, Community Development Financial Institutions (CDFIs), and Minority Depository Institutions (MDIs) until May 31, 2021 or until remaining funds are exhausted. First Tech is not one of these lenders so the SBA will no longer accept our PPP loan applications. To locate a lender in your area that may be accepting new PPP loan applications, please visit the SBA website. The SBA continues to accept applications for PPP forgiveness, please see the resource page for more information. As the SBA releases additional guidance, we’ll update this page to provide the latest information.
How long do I have to apply for a PPP loan?
The SBA no longer allows First Tech to submit applications for PPP loans. However, we’re still helping members apply for PPP loan forgiveness.
Who do I contact to get more information on PPP loans through First Tech?
Our dedicated PPP lending team is available to take your questions. Call us M-F from 9am to 4pm PT at 503.469.7707 or send your questions to SBAPPPInquiries@firsttechfed.com.
How do I know if I'm eligible for a PPP loan?
What happens if I was denied for a PPP loan?
The SBA has other loan options. Unfortunately, First Tech is only authorized by the SBA for the PPP. You will need to apply with another SBA lender to obtain other SBA loan options. Please see their site for additional options.