Paycheck Protection Program (PPP) Application

(and General Information)

The Paycheck Protection Program provides eligible businesses with 300 or fewer employees up to $2 million for payroll and certain other expenses. Higher employee counts and dollar limits may be available for first time PPP borrowers.

See below for our online application where you can enter your business information via a fast, secure method.

Please note the application will require additional information and/or certifications later in the process.

Please read this page carefully to ensure correct qualifications are met and accurate information is provided.

Evergreen Membership

To receive a PPP loan, your business must be eligible for membership with Evergreen Credit Union AND must become a member. Eligibility includes that the business operates out of Cumberland or York County, or is already a business member of Evergreen Credit Union.

Browser Notice

Note that Google Chrome is the preferred browser to use with our PPP Loan Portal. Safari (Apple) users should ensure they are on the most current version.  Mozilla Firefox works as well.  Please do not use Internet Explorer.

APPLICATION (Please read this page fully before applying)

Application Here: Evergreen PPP Application Portal 

Questions may be directed to: [email protected]

Rule Changes

Many changes exist between the rules for the First Draw (your first PPP Loan) and a Second Draw (your second PPP Loan).  Key differences are as follows:

  • A business must have 300 or fewer employees.
  • A business must show a revenue reduction of at least 25% in any one quarter of 2020 compared to the same quarter of 2019.  For applicants that do not have quarterly information available, you may provide both 2019 and 2020 annual tax forms showing a 25% or greater decrease in gross receipts.
  • First Draw rules apply to all businesses that have not previously received a PPP Loan, whether from ECU or a different financial institution.
  • Any PPP Loan Forgiveness amounts received in 2020 should be excluded from Revenues.
  • Any business operating under the NAICS Code 72 may receive a loan equal to 3.5-times its average monthly payroll costs; all others remain at 2.5-times average monthly payroll costs.
  • A business no longer needs to refinance any EIDL amounts.
  • Simplified Forgiveness for loans having a principal amount of $150,000 or less.
  • Application deadline:  March 31, 2021

PPP SECOND DRAW - ELIGIBILITY

  • If you are an independent contractor, self-employed individual or sole proprietor – for PPP purposes YOU are considered an employee even if you don’t take a regular paycheck.
  • Your business must have been in operation on February 15, 2020.
  • A business may use either its calendar year 2019 or calendar year 2020 payroll.  If you use calendar year 2019 and your First Draw was based on the same, additional payroll documentation may not be required IF your First Draw was with Evergreen.
  • Partners in a Partnership may not file for separate PPP Loans; the Partnership must apply.

Important Details regarding Applying for a Second Draw

To apply for a second draw, you will complete the Form 2483-SD (Second Draw) in our portal and submit the following:

For 1120 or 1120S tax filers, payroll items needed include:

  • Form 941 OR payroll processor records.
  • State quarterly wage unemployment insurance forms.
  • Evidence of employer-paid group health, life, disability, vision and dental insurance.
  • A payroll document confirming payroll for a period including February 15, 2020.

For Schedule C filers with employees, payroll Items needed include…

  • Either the 2019 or the 2020 Schedule C from your tax returns
  • Form 941 OR payroll processor records
  • State quarterly wage unemployment insurance forms
  • Evidence of employer-paid group health, life, disability, vision and dental insurance
  • A payroll document confirming payroll for a period including February 15, 2020

For Schedule C filers without employees, payroll Items needed include…

  • Either the 2019 or the 2020 Schedule C from your tax returns
  • Documentation confirming you were in business on February 15, 2020

Confirmation of Revenue Reduction

For loan requests over $150,000, an applicant must provide documentation sufficient to establish that it experienced a reduction in revenue at the time of application.

For loan requests of $150,000 or less, an applicant may submit documentation sufficient to establish that it experienced a reduction in revenue EITHER at the time of application OR upon applying for forgiveness.

Ineligible Borrowers

  • Entities primarily engaged in political and/or lobbying activities
  • Certain entities organized under the laws of the People’s Republic of China or the Special Administrative Region of Hong Kong, or with other specified ties to the People’s Republic of China or the Special Administrative Region of Hong Kong.
  • Any person required to submit a registration statement under Section 2 of the Foreign Agents Registration Act of 1938 (22 U.S.C. 612).
  • A person or entity that receives a grant for shuttered venue operators under section 324 of the Economic Aid Act.
  • entities in which the President, the Vice President, the head of an Executive department, or a Member of Congress, or the spouse of such person owns, controls, or holds at least 20 percent of any class of equity.
  • A publicly traded company, defined as an issuer, the securities of which are listed on an exchange registered as a national securities exchange under section 6 of the Securities Exchange Act of 1934 (15 U.S.C. 78f).