SBA Paycheck Protection Program
OneUnited Bank is a Preferred SBA 7A lender and offering the Paycheck Protection Program (PPP) to our existing and new customers through online banking.
Per the current SBA guidelines, we will require the following information to process your loan request.
A PPP Loan Application (in online banking)
The amount of your loan request calculated based upon your payroll costs and the requirements of PPP (see SBA website here)
Required documents needed to verify the loan amount requested.
Funding is limited. We will process your loan application in a timely manner however we can give no assurance that the application will be approved (given a loan number) by the SBA. We will keep you up to date throughout the process.
PPP Loan Use Cases
What can I use a PPP Loan for?
- Payroll costs, including benefits;
- Interest on mortgage obligations for your business and incurred before February 15, 2020;
- Rent, under lease agreement for your business and in force before February 15, 2020; and
- Utilities (such as electricity, gas, water, transportation, telephone and Internet access for service
Note: Not more than 25% of the forgiven amount may be used for non-payroll costs.
Please visit our PPP Loan FAQs to learn more details about the program.