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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 Feb. 3, 2021

In support of the COVID Relief Act signed into law Dec. 27, 2020, SAFE Credit Union is offering 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 now accepting applications. To participate, please call us at (800) SEE-SAFE, option 3, to be put on our applicant list. We will contact you directly with further instructions on how to submit your application.

  • 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. 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 of at least 25% in at least one quarter 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:

SBA Economic Injury Disaster Loans and Loan Advance
The SBA is offering its Economic Injury Disaster Loans and loan advances to help businesses coping with losses due to COVID-19.


Other SBA COVID-19 assistance
The SBA is also offering SBA debt relief, express bridge loans, and other assistance for businesses.

Other Non-SBA assistance

Gov. Gavin Newsom announced the state is putting $50 million toward a new “microlending” program through the California Infrastructure Economic Development Bank, or the IBank. The program is aimed at businesses that might not be eligible for Small Business Administration loans or Paycheck Protection Program.

Applications for California's new program are available through the state's coronavirus portal

California EDD
The California Employment Development Department provides a number of COVID-19 related resources regarding workplace and employee issues.
Downtown Sacramento Partnership
The Downtown Sacramento Partnership has put out a tool kit for businesses that includes links to information about health, assistance for businesses, and community fundraisers to support. 
Regional Chambers of Commerce
Chambers of Commerce in the Greater Sacramento area are providing information for their members through newsletters and teleconferences.
Commerical loans
Providing commercial loan payment deferral programs to give our business members some breathing room1

1 Available by member request. Subject to approval.

Other Helpful Resources

The Centers for Disease Control is regularly updating its guidelines for businesses and employers about how to promote safety for staff and customers regarding COVID-19. https://www.cdc.gov/coronavirus/2019-ncov/community/organizations/businesses-employers.html

The California Labor & Workforce Development Agency provides comprehensive guidelines for employers and employees. Get insights on paid sick leave policies, disability insurance, unemployment insurance, and more.  https://www.labor.ca.gov/coronavirus2019/

Learn the latest information and mitigation efforts in place in Sacramento County: https://www.saccounty.net/COVID-19/Pages/default.aspx

Follow updates from the city of Sacramento: https://www.cityofsacramento.org/Emergency-Management/COVID19