Business Resources

Help for our business members

Businesses are being hit hard by the coronavirus pandemic. As government agencies and local authorities direct certain businesses to close and others lose customers while people self-isolate, business owners may find themselves seeking resources to help them and their employees weather the COVID-19 situation. 

SAFE Credit Union has long supported businesses in the Greater Sacramento area with business banking services, from savings and checking accounts to lending. We are here to help our members during this time. In that spirit, we’ve compiled a list of helpful resources for businesses in the Greater Sacramento area.

Paycheck Protection Program 3 (PPP)

Updated Jan. 19, 2021

In support of the COVID Relief Act signed into law Dec. 27, 2020, SAFE Credit Union will offer the next round of U.S. Small Business Administration (SBA) PPP loans to existing SAFE Business Banking members. To maximize the number of members we support and to ensure your wellbeing, we will only accept PPP loan applications through our secure, online portal.

If SAFE is your primary financial institution for your business and your business has experienced financial losses in 2020 due to COVID-19, you will be eligible to apply for the loan through SAFE. We are waiting for additional guidance from the SBA and the U.S. Treasury before accepting applications. We will provide updates on when our application portal is ready for you here. We thank you for your patience.

• You can find the interim final rule with the latest details on the program here.
• If you have already received a PPP loan and want to apply for another, you can find details of that program at this link.

In the meantime, there are certain steps you can take now in preparation.

• At your earliest convenience. call us at (800) SEE-SAFE or (916) 979-7233, option 3, to connect with our Business Banking help line. We’ll work with you to ensure your business account is up to date and add you to the list of interested applicants. Once the application portal is open, we will send invitations to apply to those on the list.
• There are two programs in this round. One is for businesses that have not yet received a PPP loan. The other is for businesses seeking a second PPP loan. Funding for the second PPP loans will be available to small businesses that have sustained quarterly revenue losses in 2020. Businesses applying for a second PPP loan may face processing delays if they have not yet finalized the forgiveness application process for their first PPP loan. Also, you will need to include your first PPP loan number on the application for a second draw loan. 
• We recommend you maintain digital copies of your business financial statements, including your quarterly business financial statements that will allow PPP lenders to compare different financial periods for those applying for second PPP  loans.
• Continue to maintain digital quarterly payroll records and quarterly financial statements.
• If you are a franchise and plan to apply for a first- or second-draw PPP loan, you'll need to have your franchise identifier code for the application. You can find your franchise identifier code at this website .
• Ensure that your business entity documents are current. Contact your primary business financial institution if you have made any recent changes to your ownership structure.
• Periodically check with the Small Business Administration for program updates.

Please check back here for the latest updates from SAFE on our application procedures. Please keep in mind that past cycles of the PPP program saw numerous changes and updates to various aspects of the program. You can stay informed about updates to the program at the SBA’s PPP site.

Resources for businesses coping with COVID-19: