The United Methodist Credit Union Helps Churches with CARES Act
April 14, 2020
SBA Paycheck Protection Program (PPP)
Many of you have churches in your areas of responsibility that are considering or have already decided to apply for a loan through the SBA's Paycheck Protection Program (PPP). I am writing today to let you know that The United Methodist Credit Union (TUMCU) is a participating institution in the program and would be happy to assist any UMC church or related organization in this regard. Please forward this email to anybody that might need this resource.
Our online application and other information about the SBA program is available at https://www.tumcu.org/sba-paycheck-protection-program/. Once the initial application is made, the same site will also provide a secure online portal to upload the documents required in the loan process.
We are trying to make this effort as painless as possible and will try to expedite all applications as best we can, but please know that changes are being made to the policies, procedures, and scope of this program literally on a daily basis by the SBA. Accordingly, all applicants need to know that the closing and funding of these loans may not be as soon as many are hoping for as we are reliant on the SBA for an approval to disburse funds.
However, If any of your churches need more immediate help, we also have a capacity to process simplified low-interest emergency loans as well. Please call us at (866) 657-0004 if this is of interest.
Both programs require the church or organization to be a credit union member. If the church is not already a member, we can take care of that while the requested loan is in the underwriting process (and it's free to join, of course).
As always, we are proud to help United Methodist churches in any way we can to get through this challenging period.
Blessings to all,