Support for Small Businesses

Bay Federal Credit Union is actively engaged in developing our business lending program and can provide resources to help our business members. Please see options available to you below. Currently, we are unable to support any Payroll Protection Program applications, as we have met our limit in funding as an institution. Please visit our local Small Business Development Center for additional resources.

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Options Available to Small Business Owners

SBA Payroll Protection Program (PPP)

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. This program is available as funding is made available by the federal government.

At this time we are unable to accept applications for the Paycheck Protection Program. For additional information and support, please reach out to our local Small Business Development Center.

We also have information for members interested in PPP loan forgiveness options.
Santa Cruz Resilience Microloan Program (for Small Businesses in the City of Santa Cruz)

The Santa Cruz City Council recently passed the Santa Cruz Resilience Microloan Program to support small businesses in the City with loans ranging from $5,000 to $10,000.

To be eligible for this program, your business must be physically located within the City of Santa Cruz.

Information about this program and other resources for small businesses can be found on the Santa Cruz Economic Development website.
Additional Resources for Small Businesses

The Santa Cruz chapter of Northern California's Small Business Development Center has great resources and information about these loans and other programs to support small businesses, including links to apply for loans and assistance.

You may also find additional information from the U.S. Senate's Small Business Owner's Guide to the CARES Act, as well as the CDC Small Business Finance guide, which includes a helpful FAQ.

If you would like to discuss options to support your business, please fill out the following form. Our Business Relationship Manager, Jeff Heitmann, will respond to advise on options for your individual situation. Due to the current volume of inquiries, a response may take up to 48 to 72 hours. As a reminder, we cannot support businesses through the federal Payroll Protection Program at this time.

Your Name: