Covid-19 Emergency Loans

Paycheck Protection Program

We remain committed to ensuring you have access to the resources you need to get through these unprecedented times. With that in mind, we’re excited to announce that the Paycheck Protection Program (PPP) under the CARES Act is accepting applications. We’ve partnered with Kabbage to connect you with these loans to help you cover payroll, rent, utilities and other eligible debt obligations.

The program is accepting applications through June 30, 2020, with loans available for 2.5 times your average monthly payroll for 2019, up to $10 million. There’s no collateral or personal guarantee.

Apply online in just a few steps

• Submit information about you, additional owners and your business, including payroll filings and certifications necessary for eligibility
• Review the amount your business is eligible for
• Verify your business information and identity
• Take the loan when you’re approved

Disclosure-

Due to an overwhelming response and limited internal resources, Nizari PFCU has partnered up with a FinTech company named Kabbage, Inc. to further assist our members for the Paycheck Protection Program. If you were not able to apply for this program for any reason and would now like to apply, please follow this link and complete the application process. Nizari PFCU has partnered up with Kabbage to provide an additional resource to our members if they were not able to find a lender to process their application. Nizari PFCU is not affiliated with Kabbage, Inc. They are acting as an independent contractor. Therefore, Nizari will not have any access to the applications and will not be involved in the process; processing, funding, and servicing will be done by Kabbage, Inc. only. Please do your own due diligence before availing their service.  We will not be able to answer any questions and are not responsible for any issues you may have with them.

Approval, disbursement, and forgiveness are not guaranteed by Nizari PFCU. You may learn more about Kabbage by visiting www.kabbage.com.

Kabbage, Inc., a data and technology company providing small business cash-flow solutions, has partnered with a technology-enabled bank and authorized lender of the Small Business Administration (SBA) to deliver billions of dollars of Paycheck Protection Program (PPP) loans to American main-street businesses.* With an announcement from the bank forthcoming, this makes Kabbage the first FinTech using automation to enable tens of thousands of small businesses to submit PPP applications in minutes.

Emergency Business Line of Credit

• Business Line of Credit of up to $25,000 may be provided @3.99% for 12 months (Texas only).
• Loans above $25,000 will be subject to the credit union loan policies.
• Loan amount and approval will be subject to adequate credit rating, financials and payment history with the credit union. Credit Union reserves the right to stop the program anytime.

Downloads:
Loan Application

Consumer Emergency Loans

• We are offering an emergency loan of up to $5,000 @2.99% for 72 months for members of the credit union who are impacted with the COVID-19.
• Loans above $5,000 will be subject to the credit union loan policies.
• Members will need to submit a loan application together with employment verification.
• These loans will be processed expeditiously.
• Loan amount and approval will be subject to adequate credit rating, payment history with the credit union and other terms and conditions. Credit Union reserves the right to stop the program anytime.
• Members will need to provide information on how they are financially impacted by the COVID19
  

Downloads:
Loan Application