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COVID-19 Solution Center for Business

Help with SBA Loans and Other Coronavirus Financial Solutions

If your business is faced with financial hardship due to COVID-19, we are providing the following solutions in conjunction with the Small Business Administration (SBA).
TDECU is here to help you with these programs. If you have questions, contact your TDECU Business Relief Team at

SBA Paycheck Protection Program (PPP) Round 2

March 31, 2021

Please read the following instructions carefully. Failure to upload the proper documentation will result in a delay in underwriting, which could result in TDECU being unable to obtain the SBA approval before the expiration date of the program.

TDECU is pleased to assist you with your application for the SBA Paycheck Protection Program (PPP) – Round 2. The minimum loan amount for all PPP loans is $2,000.00. When calculating the loan amount you are eligible for (2.5x your average monthly payroll), please assure that it meets the minimum loan amount before submitting your application.

In order to make an application, you must be a TDECU member or make an appointment at a member center to open your account prior to submitting your application. Documentation Requirements to open a business account can be found here.

TDECU will be utilizing an electronic application processing portal that ties directly with the SBA processing center.

If you received funding from TDECU in Round 1 of the PPP program and have started your forgiveness process with TDECU, the login credentials for the portal will be the same as you used for your PPP forgiveness application.

If you are new to the PPP process, you will be asked to create a username and password and then verify your identity through multi-factor authentication (text or email code).

You will need to assure that you have the following information available to complete the application process:

  • A current web browser, such as Edge, Chrome or Firefox (will not work with Internet Explorer)
  • An email account that will allow receipt of electronic documents (DocuSign) — you may need to check the settings of your Spam folder
  • Your business NAICS code (see your tax return for this number) — this will be used to help determine the elegible loan amount based on your industry.
  • The SBA will not allow PO Boxes as addresses — please enter your physical address.
  • Upload to the portal: Proof of average monthly payroll:
    • Proof of payroll can be provided for the year 2019 or 2020 and will need to include the following forms, depending on type of business: IRS Form 1040 Schedule C, IRS Form 1065; including K-1s, IRS Form 1120 or 1120-S, Form 941 for all quarters. In lieu of IRS Form 941, IRS Form W-2s and IRS Form W-3 or annual payroll processor reports are acceptable.

If you are applying for a Second Draw PPP Loan (you participated in Round 1 of PPP), you will need to provide the preceding information, as well as the following:

  • The SBA loan number (not the lender loan number) and exact dollar amount of the first draw PPP loan.
  • Upload to the portal: Proof that your gross business receipts decreased by 25% or more from one quarter of 2019 to the same quarter of 2020:
    • Proof of this reduction can be provided in the form of quarterly financial statements, monthly bank statements with gross receipts highlighted and annotated, or annual IRS income tax filings for the entity.

Any incorrect or missing data will delay the processing of your application and possibly result in TDECU being unable to obtain SBA approval before the expiration date of the PPP program.

NOTE ON TIMING: The application will be in TDECU underwriting for 2-3 days. After that, the approval process from the SBA may take an additional 3-4 days. Once the SBA has approved your loan, you will receive loan documents within 2-3 business days. Funding of your loan may take 5-6 business days after the loan documents are signed. The SBA approval has an expiration date. Please sign loan documents in a timely manner or the SBA will have to issue a new approval, which will delay funding.

Apply Here

Small Business Paycheck Protection Program (PPP) – Loan Forgiveness

Updated: 04/14/2021

Thank you for entrusting TDECU with your recent SBA Paycheck Protection Program loan. We hope you and your employees are all safe and healthy during this difficult time. TDECU assisted you in the funds application process and we will remain by your side during the forgiveness process as well.

At this time, TDECU is currently accepting applications for forgiveness for Round 1 (2020) PPP applications. We will begin accepting Round 2 (2021) forgiveness applications in the near future. We will update our website to inform our members that Round 2 forgiveness is open at that time.

You may use your loan funds over a covered period of 8 to 24 weeks and you have several months to apply for forgiveness once the covered period has concluded. The SBA and Treasury have published three versions of the forgiveness application (a simple form 3508-S, a short form 3508-EZ, and a standard 3508-long form). It is anticipated that 95% of all applicants will qualify to use either the 3508-S or the 3508-EZ form. You can download the instructions for these three forms below:

SBA Form 3508S (Simple Form)

SBA Form 3508-EZ (Short Form)

SBA Form 3508 (Long Form)

TDECU is offering our PPP borrowers access to a secure online portal available to assist you in completing your application and providing the required supporting documentation. Once you are ready to apply for forgiveness, please contact one of our representatives at to start the process. As part of granting access to the portal and to protect the security of your information we will be using a multi-factor authentication process which will require that you provide your TDECU representative a cell phone number to receive your authentication code. If you already used this portal for the first round of forgiveness or the second round application, you will use the login information that you set up previously.

Best Practices to increase likelihood of forgiveness:

  • Download and read the instructions for the SBA Form 3508 Application for Forgiveness (above).
  • Use loan proceeds only for the eligible uses listed above.
  • Retain your supporting documents (payroll records, receipts, cancelled checks, etc.) for at least six years.
  • Do not co-mingle funds. Keep your PPP loan proceeds in a separate account designated for payroll or PPP uses of funds.
  • Retain your number of full time employee headcount.
  • Maintain the salaries and wages of your employees at pre-Covid levels.
  • If you cannot re-hire your furloughed or laid-off employees, you must make a good faith effort to rehire them (Ex: extend a written offer and receive a rejection).

SBA Express Loan Program

TDECU SBA Express loans are a simple way to receive expedited government-guaranteed financing for your small business due to financial hardships caused by the COVID-19 pandemic. Until December 31, 2020, businesses can be granted up to $1,000,000 of capital.

Since TDECU is a Preferred Lender with the SBA;

    • Your loan can be approved in as little as 10 days vs. 20+ days for a traditional SBA 7(a) loan
    • TDECU can process your loan application and provide loan documents without having to obtain SBA approval
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