Land of Lincoln Credit Union (LLCU) is offering small business owners assistance as they navigate through the qualifications and application process for the Small Business Administration (SBA) Paycheck Protection Program (PPP) loans. LLCU is an SBA Express Lender and have dedication commercial loan officers ready to assist.
This round of PPP loans presented several changes to avoid fraudulent activity and larger corporations from consuming large portions of the allotted amount. This time, there will be two categories; FIRST DRAW loans (for those that have not received PPP loans previously) and SECOND DRAW loans (for those that have previously received a PPP loan). The qualifications vary for both types.
“In the first round of PPP Loans back in the early summer, we assisted a lot of central Illinois businesses to obtain monies from the SBA through this program,” stated Andrew Young, LLCU Chief Lending Officer. “As of the end of the first round of PPP loans, LLCU alone had assisted 221 businesses with getting $6.6 million total in PPP loans. This helped central Illinois businesses tremendously. We are happy to help again this round.”
For small business owners with questions about the qualifications, visit llcu.org for more information or feel free to call John Doyle or Andrew Young at 1-844-222-7788.