Small Business COVID-19 Assistance

Last edited: 8-27-2020

First and foremost, all of us at Awakon Federal Credit Union, hope you, your families, colleagues and communities are staying safe and healthy as we go through this crisis together.

Paycheck Protection Program (PPP)

The Paycheck Protection Program is an SBA funded and approved loan designed to provide a direct incentive for small businesses to keep their workers on the payroll. The SBA is forgiving these loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities.

We communicated with 200 local business owners in the past months, regarding PPP funding. We were fortunate to be able to fund 83 PPP loans for a total $2,260,818. This program allowed these local businesses to remain open and keep their employees on payroll.

For information on PPP forgiveness or for direction on how to establish a secure connection for uploading documents, please contact Katie Braun at 989-733-8557 ext. 2501 or email kbraun@awakonfcu.net

If you would like to learn more about programs and resources available to area businesses, from the Mi Economic Development Corporation, please follow this link: Resources for Michigan Businesses