Paycheck Protection Program

The Coronavirus Aid, Relief, and Economic Security Act sets aside funds for small business loans to provide economic relief.

Available while program funds last.

01/11/2021 Update: Due to restrictions outlined by the SBA, Alaska USA is not able to submit first or second draw PPP applications at this time. We have created an online portal to submit first and/or second draw applications electronically, which will be made available on our website once we are given permission from the SBA to begin submitting applications. Thank you for your patience.

First Draw PPP Loans

An SBA loan that helps businesses keep their workforce employed during the COVID-19 crisis.

Learn more

Who may qualify

The following entities affected by Coronavirus (COVID-19) may be eligible:

  • Sole proprietors, independent contractors, and self-employed persons
  • Any small business concern that meets SBA’s size standards (either the industry size standard or the alternative size standard)
  • Any business, 501(c)(3) non-profit organization, 501(c)(19) veterans organization, or tribal business concern (sec. 31(b)(2)(C) of the Small Business Act) with the greater of:
    • 500 employees, or
    • That meets the SBA industry size standard if more than 500
  • Any business with a NAICS code that begins with 72 that has more than one physical location and employs less than 500 per location
Second Draw PPP Loans

Eligible businesses may apply for a Second Draw PPP loan.

Learn more

Who may qualify

A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses
  • Has no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020
PPP Loan Forgiveness

Borrowers may be eligible for loan forgiveness.

Learn more

You will receive an email invitation to apply for forgiveness on the secure Alaska USA Forgiveness Portal. Invitations will be extended in the order that applications were funded.

View Portal Procedure

 

View Required Documents

Tips to Avoid Fraud

Fraudsters have started targeting small business owners regarding economic stimulus programs offered by the U.S. Small Business Administration. Remember, do not respond to, click any links, or open attachments you receive from suspicious emails or texts.

Keep your personal information secure by following a few simple browsing tips.

Continue Reading

Learn to spot a fake—how to recognize and avoid phishing attacks.

Continue Reading

You're About to Leave go.alaskausa.org

You are about to visit a third-party website not operated by Alaska USA Federal Credit Union.

Alaska USA Federal Credit Union is not responsible for the product, service, or website content on any external third-party sites and does not represent either you or the website operator if you enter into a transaction. Alaska USA Federal Credit Union's privacy and security policies do not apply to the linked site.

Continue OR, CANCEL