SBA Paycheck Protection Program (PPP) Resource Center

PPP Forgiveness

You may start your forgiveness process on any PPP loan funded by RCU in 2020. Loans recently funded in 2021 are anticipated to be eligible to apply for forgiveness in mid to late summer. As soon as PPP loans funded in 2021 are eligible for forgiveness by the SBA, RCU will notify and invite borrowers accordingly. All PPP loans funded in 2021 will have until at least mid-2022 to apply for forgiveness with no penalty, so there’s no need to rush. We will continue to update our website as new information becomes available, so please check back often.

PPP Forgiveness Center

SBA PPP Funds Closed

as of 05/04/21

The SBA has confirmed that the PPP general fund is now closed to new applications. As a result, RCU is no longer accepting new applications. We will update this website as new information becomes available, so please check back often.

The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content and materials on this site are for general informational purposes and are intended solely to help applicants navigate the requirements of the SBA PPP loan program.

Please be aware that additional guidance may be provided by either or both agencies at any time, and it may directly impact whether a loan is forgiven in whole or in part. Redwood Credit Union is striving to stay on top of further guidance as it is issued from the SBA. The information contained in this page is based on laws, rules, regulations, and related guidance with respect to the Paycheck Protection Program, including guidance issued by the U.S. Small Business Administration (SBA) on March 3, 2021. We will periodically update this information, so please check back often.

The information on this website may not constitute the most up-to-date legal or other information.