Small Business Administration (SBA)

PPP Loan Applications

Page Last Updated: 1/19/21

The application process for the newly reauthorized Paycheck Protection Program (PPP) is now open for eligible first- and second-time borrowers. We streamlined the application process to make it easier for our Business Members to apply through an online application which can be completed in 10-15 minutes.
To ensure you are ready to apply, review the required documents to upload within your application here.

Apply on desktop:

  1. Log into your Business Membership through online banking
  2. Click the link in the PPP banner
  3. Complete your SBA PPP application 

Apply on mobile:

  1. Log into your Business Membership through online banking
  2. Select “More,” then “Others,” then “Contact”
  3. Tap the PPP banner
  4. Complete your SBA PPP application

  • First time SBA PPP borrowers
    In general, your business must have been in operation as of February 15, 2020. The first loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum.
  • Second-time SBA PPP borrowers
    A business may apply for a second PPP loan if the business spent or expects to spend the full amount of their first PPP loan before they receive funding for the second loan. The second loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
    • Accommodations and food services companies with North American Industry Classification System (NAICS) code 72 can borrow up to 3.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum. 
    • All businesses applying for a second PPP loan must show that their business revenue declined by at least 25% in any quarter in 2020 compared to the same quarter in 2019.
    • Businesses can apply for a second loan regardless of whether they have requested forgiveness for their first PPP loan.
  • For full program details and any exceptions, visit SBA.gov and Treasury.gov.

How to prepare

  • You may want to contact your accountant, attorney, or other trusted advisors.
  • To apply for a SBA PPP loan through Vantage West Credit Union, you will need to have a Business Checking account with Vantage West. If you do not have an account and would like to establish one, contact us at 800.888.7882 or schedule an in-branch appointment.
  • Review and gather the documents needed to upload with your PPP application here.
  • Continue to check this page for updates.

We will communicate any program changes via this page when we have the updates. Please check back often.

Paycheck Protection Program (PPP) Update on Loan Forgiveness

If you received your SBA Paycheck Protection Program (PPP) loan through Vantage West Credit Union, you should also apply for loan forgiveness through Vantage West Credit Union. Our role will be to collect your documentation and submit it to the SBA for their decision. We understand that loan forgiveness for your PPP loan is important to you, and we are committed to supporting you through the request for forgiveness process.

Between October 2020 and January 2021, look for our email inviting you to apply for loan forgiveness. You will receive the email based on the date you received your SBA PPP loan proceeds, or the readiness due date you provided to us on the survey we sent you.

Here are steps to help you prepare ahead to submit your loan forgiveness application once you receive our email invitation.  

Step 1: Prepare and review helpful tips

  • View our FAQs for more details about SBA PPP Loan Forgiveness.
  • Collect the recommended supporting documents.
  • You should request forgiveness only after you have spent all the funds that are eligible for forgiveness.
  • We will occasionally communicate with you through your message center in online banking.  Please continue to check the message center for communications related to your loan.
  • Continue to visit sba.gov for the most up to date guidelines.

Step 2: Apply via email link

  • We will send you an email with an online application link to apply for forgiveness. The loan forgiveness application link will be sent to you between October 2020 and January 2021, based on the readiness date you provided us in your survey response or based on when you received your SBA PPP funds. You have 10 months after the end of your covered period to apply.
  • Once you start your online application, you will be able to save and return to it later.
  • Wait to submit your PPP loan forgiveness application until after you have collected and uploaded all required documents.

Step 3: Submit Application

  • Once you submit your application, you will receive an email confirmation with a copy of the submitted documents for your records.
  • We will review your completed PPP loan forgiveness application along with the supporting documents you have provided.
  • If additional information or documentation is needed, we will send you an email notification stating your application requires attention.  You will be able to update your application or provide the additional documentation through the email application link.
  • Once your application and supporting documentation is complete, Vantage West will forward it to the SBA for their decision.
  • The Small Business Administration (SBA) has up to 90 days to make a decision on your forgiveness application.

Step 4: SBA confirmation

  • We will notify you about the SBA’s decision once the SBA informs us of their decision on your application for loan forgiveness.
Disclosures

Application:

Legal Disclaimer: All applications for a SBA PPP loan are subject to credit approval, supporting payroll records, and tax documents for Vantage West to verify the dollar amount of average monthly payroll costs, Vantage West program and underwriting guidelines, and other SBA requirements in Vantage West’s absolute discretion. The PPP is first-come, first-served SBA sponsored program. Vantage West makes no guarantee that by submitting an application to Vantage West that any application will be processed, reviewed, or approved. Applicant will hold Vantage West harmless from any and all actions, claims, or disputes in connection with the SBA PPP, application, and in any way connected with Vantage West’s approval or non-approval of Applicant’s request. Vantage West will calculate the eligible loan amount using Borrower’s tax documents which Borrower certifies are identical to those submitted to the IRS.

 

Forgiveness:

Legal Disclaimer: We will periodically update this information; Members are responsible for checking and understanding updates to this page throughout the forgiveness process. In the event of any discrepancies between the information on this site and the SBA’s site, please follow the official SBA guidance.