The Paycheck Protection Program (PPP) provides 2.5 times reported monthly payroll costs to cover group health care expenses, insurance premiums, employee salaries, and other compensation. As a certified Community Development Financial Institution, Bay Federal Credit Union has accepted a limited number of applications for the Paycheck Protection Program. There is no guarantee that all applications will receive approval or funding.
At this time we are temporarily suspending the ability to apply for the Paycheck Protection Program. Please use the contact form below if you would like to be put on a waiting list if funding is still available and we reopen the application site.
Future applications will be accepted for businesses that meet the following criteria:
- Must have primary Business Checking Account with Bay Federal Credit Union, open prior to February 15, 2020.
- Business must meet the qualifications as defined by the provisions of the Paycheck Protection Program.