News & Updates

COVID-19 Relief Option for Small Business Owners

Paycheck Protection Program

We are now accepting PPP applications for First Draw and Second Draw borrowers.

As a Community Development Financial Institution (CDFI), the SBA is allowing us to file two days early. With that said, we are asking that you submit your full and complete application as soon as possible.

Pre-requisite: You must be an WUHEFCU member with both an active personal account and business account. If you do not, please let us know.
WUHEFCU Business Accounts

First Draw Borrowers

If this is your first time applying for PPP with any institution, please submit the following:

  -  First Draw Borrower Application

  -  Proof of Payroll (see below for guidance)

Second Draw Borrowers

If this is your second time applying for PPP with any institution, please submit the following:

  -  Second Draw Borrower Application

  -  Proof of Payroll (see below for guidance)

*Please submit your full application to info@wuhefcu.org.

 

Acceptable Payroll Documents

For businesses applying for a PPP Loan:

  -  941 Quarterly Tax Filings (2019, 2020 Q1)

  -  944 Annual Tax Filings (2019)

  -  Payroll Register for the previous 12 months

  -  12 months most recent bank statements

 

For 1099 Independent Contractors or self-employed individuals applying for a PPP loan:

  -  IRS 1040 Schedule C

  -  1099s (under which you were paid)

  -  Income and expense reports for 2019

  -  Business account bank statements

  -  Any other document that can prove your payroll expenses

 

Resources & Documents:

SBA PPP Program Overview

Frequently Asked Questions

How to Calculate PPP Loan Amounts

Please submit documents to miran@wuhefcu.org. We appreciate your patience as we navigate the ever changing complexities of the PPP Loan.

© 2015 Winthrop-University Hospital Employees Federal Credit Union
Phone: 516-226-3616 | Fax: 516-441-6769 | ABA/Routing Number: 221476691
Email: info@wuhefcu.org
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