Paycheck Protection Program
Skip to main content
Federally Insured by the NCUA

Paycheck Protection Program

First Florida Credit Union is now accepting applications for the latest round of funding through the SBA Paycheck Protection Program (PPP). 

If you did not receive a PPP loan in 2020, you may be eligible to apply for your first PPP loan in 2021.

If you did receive a PPP loan in 2020, whether through First Florida or another institution, you may be eligible to apply for a second PPP loan in 2021 if your business suffered a loss in revenue in 2020.  The requirements for second draw include:

  • Have no more than 300 employees.
  • Have used or will use the full amount of your first PPP loan.
  • Can show a drop of at least 25% or more in annual gross receipts for any quarter of 2020 when compared to the same quarter in 2019.
  • Have not permanently closed.  Businesses that have temporarily closed or suspended operations can receive a second-draw loan.

What forms will I need to apply?

Please use this guide to determine the best documentation to provide for each step

Do you have employees?YesNo or LimitedNo
Entity Type‐>>>>C‐Corp, S‐Corp, LLC, Partnership, Not for profit, Veteran Org, Tribal Org Sole Proprietor, Self Employed Independent Contractor
Required Payroll Verification Documents for 1st SBA PPP or 2nd SBA PPP loan:
2019 or 2020 is appropriate. IRS 941's, IRS 940, W3 Cares Act Report from payroll provider Year end payroll report from payroll provider. Partnership needs to provide K-1's for the payroll year documented. Personal Tax Return Schedule C 1099
February 15, 2020 Payroll Verification Documents for 1st SBA PPP or 2nd SBA PPP loan:
 IRS 941 for 1st quarter 2020. Cares Act Report from Payroll Provider for 1st quarter 2020 Bank statement that includes business name and includes transactions for 2/15/2020. Bank statement for 2/15/2020.
If your loan amount is over $150,000 and this is your 2nd SBA PPP loan, please provide:
Evidence business revenues decreased by 25% from 2019 to 2020. If uisng a quarterly comparison, the same quarter will need to be used for 2019 & 2020. If annual revenues, a 2019 revenue report and a 2020 revenue report must be provided. (Profit and loss statements, tax returns, or CPA Cares Act Reports are acceptable.
If you have a seasonal or new business, please indicate the number of months you operated in 2019 & 2020

Apply Today!

Click here to start your application.

Visit the Small Business Administration for more information on government assistance programs for COVID-19 relief.