Financial Relief Solutions for
Business Owners

If you have other questions regarding your existing business loans with KEMBA, need assistance, or have questions regarding anything outlined below, please feel free to reach out to one of our Commercial Services team at 614.729.1321 or BusinessServices@kemba.org.

 

 

IMPORTANT UPDATE ON THE SBA’S PPP PROGRAM

September 18, 2020

Please be advised that links issued to you for your PPP Loan Forgiveness Applications are for SINGLE USE ONLY. If you exit out of the application, a new portal link will be sent to your email and the previously issued link will no longer work. A new link will be required every time you log into the portal – please do not try reusing old links.

 

If you are having ongoing issues, please contact BusinessServices@kemba.org for assistance.

 

August 7, 2020

 

The SBA will begin accepting Paycheck Protection Program (PPP) Loan Forgiveness Applications on Monday, August 10. As a PPP loan recipient, we want to assure you that KEMBA is working diligently to prepare for this part of the process by setting up our online portal for your PPP Loan Forgiveness Application and the necessary documents to submit your request to the SBA.

 

Based on the information currently available from the SBA, and to ensure the smoothest experience for you, please review the most recent information below regarding your submission. This timeframe and overall process is dependent upon the SBA, and KEMBA will provide updates as soon as we become aware.

 

  • KEMBA will begin testing our integration into the SBA’s platform the week of August 10.
  • Starting the week of August 17, members with a PPP loan will begin to receive an email invitation to access the new portal and submit your application in the order you were approved and closed on your PPP loan.
  • Our goal is for all members with PPP loans to have access to the portal by the end of September.
  • When received, we will carefully review the application within 60 days for submission to the SBA.
  • Once received, the SBA will have 90 days to review and approve the submission.
  • Upon approval, we will notify you promptly and await the SBA to send the funds to pay off your loan.

 

While KEMBA is prioritizing the loan forgiveness applications and will execute as quickly as possible, the SBA will ultimately control the process and timeframe.

 

Additionally, please be aware that there is currently proposed government stimulus legislation that may have an impact on the PPP Loan Forgiveness Application process, most importantly easing the requirements involved for loans under $150,000. The result of the legislation may impact the August 10 start date, so we are diligently monitoring it and will provide up-to-date information as it becomes available.

 

Lastly, while we understand your eagerness to complete the PPP Loan Forgiveness Application, we appreciate your continued patience while we test our system and await the pending legislation. Ultimately, our goal is to make this a seamless process for you.

 

Again, thanks for your patience as we wait and watch with you.

 

 

July 6, 2020

KEMBA Financial Credit Union is pleased to continue to participate in the SBA Paycheck Protection Program (PPP) now that the deadline has been extended again. In order to best serve our members, we will begin accepting new applications only from existing KEMBA members prior to June 30, 2020. Applications will be accepted through 5 pm on July 31, 2020. To begin this process, please email BusinessServices@kemba.org. Please provide your full name and/or business name that holds the membership at KEMBA.

KEMBA will be sharing our application process for the PPP loan forgiveness program soon. Check back for details.

For additional resources to help support your business during this time, both SCORE (Society of Retired Executives) and Small business Development Center – Ohio share advice that may be beneficial to you.

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