U.S. Small Business Administration Paycheck Protection Program

Community First Guam Federal Credit Union is a certified lender in the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). The PPP is a federal program that authorized up to $349 billion in forgivable loans to small business throughout the country to retain their employees during the COVID-19 crisis. PPP Overview.

Applications should be submitted no later than Monday, March 22, 2021. Applications should include supporting documents to prevent any delays before the program ends on March 31, 2021.

 

STEP 1:
Complete Questionnaire

 

In order to make the process as smooth and efficient as possible, we recommend completing a short Questionnaire about your business: Community First SBA PPP 2021 Questionnaire.

 

STEP 2:
Gather Documents

 

The following are important documents that will help you complete your PPP application:

 

• Revenue Reduction Support - Gather Gross Receipt Tax filings and quarterly financial profit & loss statements for 2019 and 2020  to help support this.
• Payroll Records - To confirm your business was in operation February 15, 2020.
  • IRS Form 941 for each quarter of 2019 or 2020
  • Payroll summary or register for 2019 or 2020
  • 1099s (if applicable)
• Business Documents -
  • Articles of Incorporation/Organization
  • By-Laws/Operating Agreement
  • Business License
  • Partnership Agreement
  • Date business was established (MM/DD/YYYY)
  • Business physical address to include Zip + 4 (no P.O. Box)
• Personal Information - For any owners you may need to provide valid identification.
• Tax Returns & Statements - Filed 2019 Income Tax Return and all schedules

 

STEP 3:

Complete and submit the SBA PPP Application.

Click here for first time PPP applicants

Click here if you have received a PPP loan previously

 

Please send your completed application to ppp2021@cfirstguam.com and a Loan Officer will contact you for additional information.

 

Visit the official SBA website for additional information on the PPP.