Paycheck Protection Program (PPP)

Small Business Loan Assistance to help businesses impacted by COVID-19.

Updated January 15, 2021

The Economic Aid Act, recently passed by Congress, allocates additional funds to support the SBA Paycheck Protection Program (PPP). The approved $284 billion will be made available to both first time PPP borrowers as well as qualifying existing PPP borrowers in need of a second draw. We are currently accepting applications through our application portal only. Please do not email or drop off applications as they will not be reviewed or processed. 

First Draw PPP Loans

If you did not take advantage of the Paycheck Protection program in 2020, you now have the opportunity to request a first draw loan. Also, some businesses who received a PPP loan in 2020 may be eligible for an increase or to reapply for a First Draw PPP Loan. Please see the SBA's Top-Line Overview First Draw PPP (PDF) for more information.

Visit the Paycheck Protection Program website for more information.

Application Deadline

Applications for the PPP program will be accepted through March 31, 2021, or until the funding provided by the Economic Aid Act has been exhausted.

PPP Second Draw Loans

Existing PPP Loan borrowers may be eligible for a second draw loan. Please see the SBA's Top-Line Overview Second Draw PPP (PDF) for more information.

Visit the Paycheck Protection Program website for more information.

Application Deadline

Applications for the PPP program will be accepted through March 31, 2021, or until the funding provided by the Economic Aid Act has been exhausted.

What to Expect After Submission

  • After you submit your signed application and supporting documents through our application portal, you will be assigned an application number and your application will move into processing.
  • You may receive requests for addition information and documentation from your assigned underwriter. Please respond quickly to any requests received to ensure your application is processed as quickly as possible.
  • You will receive an email once a final decision is made.
  • If approved, a loan contract will be sent to you to e-sign.
  • Upon receiving your signed loan contract, funds will be deposited directly into your BECU Business Checking account, and no further action is needed

Documentation You'll Need Before Applying

  • A completed SBA PPP application appropriate to your request: SBA PPP application (PDF) for First Draw PPP borrowers or SBA PPP Second Draw application (PDF) for borrowers with existing PPP loans. PLEASE NOTE: You do not need to complete this form manually; our application portal will facilitate the completion and electronic signing of the application form
  • For partnerships, LLCs, and corporations, you'll need to complete a Certification Regarding Beneficial Owners (PDF) form. Required for both First and Second Draw Borrowers. PLEASE NOTE: You do not need to complete this form manually; our application portal will facilitate the completion and electronic signing of this form 

Frequently Asked Questions

General PPP Questions | BECU Submissions FAQs

General Questions about PPP

Back to the Top

About BECU PPP Submissions