As we continue to balance our role as an essential service provider with the health of our employees and members, the ability to staff all of our branches is sometimes impacted. Our Milpitas, Palo Alto, San Francisco, and Sunnyvale branches will be temporarily closed effective December 2nd. As more members opt for non-face-to-face interactions, you may experience longer hold times when calling our Member Contact Center. We apologize for this inconvenience.
Click here for open branch locations and hours.
Our goal is to make the loan forgiveness process as easy as possible for you. We know how important it will be for you to successfully apply and receive loan forgiveness. To that end, Tech CU has invested in developing an online solution to facilitate the safe and secure submission of required documentation. We will send you an email letting you know when the portal goes live. In the meantime, please know that we are committed to being here for you every step of the way.
Here are the latest updates related to PPP loan forgiveness guidance:
While we encourage you to review the application forms and instructions linked above, please do not fill out an application yet – it will be easier for you to do so through the secure online portal we are building. Please be on the look-out for an email announcing the go-live. We are here for you and we will help you through the whole process.
So, what can you do in the meantime?
Be sure to maintain a paper trail showing how your PPP money is being used, and keep in mind that based on the new rules, you now have 24 weeks from the day you receive funding to use the money provided by your PPP loan. Be sure to keep documents, such as:
The amount you owe may increase if you reduce employee headcount or compensation or fail to re-hire employees and restore their compensation levels. Refer to the Treasury’s Borrower Information Sheet for details.
The U.S. Chamber of Commerce continues to update their Small Business Guide and Checklist, which provides a great deal of information about how PPP forgiveness works. You can also visit the Treasury’s Frequently Asked Questions page.
Come back to this page often for the latest information. We’ll be updating it regularly as we receive guidance on how the process will work, and we are committed to being here for you to work through this together.
NOTE: The information provided on this page does not, and is not intended to, constitute legal advice. The content of this page is provided for general informational purposes only. We encourage you to consult with your professional financial and legal advisors for guidance.