The SBA has announced PPP Funds have been exhausted.
No further PPP loan applications are being accepted at this time. Please contact your relationship advisor at First United for more information regarding any submitted applications.
Call us at 1-888-692-2654
8 a.m. – 8 p.m. – Monday – Friday
9 a.m. – 1 p.m. – Saturday
We’re offering loan deferrals, skip-a-payment programs for loans and credit cards, fee waivers and more to support our local community and community businesses through this difficult time.
If you have been impacted, please contact us as soon as possible so that we can help support you with a solution that fits your needs.
State and Local Governments are offering a variety of relief funds to support for-profit and non-profit businesses throughout our regions. Our associates are staying up-to-date with information on these available programs throughout our area. Our experts can help you find and secure the funding you need to help you, your business, your family and the families of those you employ.
The COVID-19 pandemic outbreak has led to unprecedented financial challenges for many businesses across the country, forcing many business owners to make difficult decisions with regard to their employee payroll. In response, among the other actions we have taken to help our customers and our communities, First United is an authorized SBA lender which gives us access to funds, including the Paycheck Protection Program (PPP), made available through the CARES Act.
The CARES Act has granted SBA authorized lenders the funding to assist eligible small businesses in receiving a no-fee loan to cover payroll, health benefits, rent and utilities. Initially, there was $350 billion available in funding, which can be up to 100% forgiven, depending on employee retention through the coronavirus crisis. As of January 2021, an additional $284.6 billion has been made available to all eligible businesses, including those who were first time recipients.
If you are considering taking advantage of the Paycheck Protection Program (PPP) for your business, we encourage you to consult with your accountant and contact your Relationship Manager here at First United to discuss what is best for you and your business. We can then help you get the process started quickly to provide you the assistance your business needs.
PLEASE NOTE: First United has community office locations in Maryland and West Virginia and we are focused first on providing servicing for the communities in which we have offices and the surrounding areas. Additionally, please be aware that the Paycheck Protection Program from the SBA is subject to funds availability which is outside of our direct control. Applications will be processed as our resources permit.
First United is an Authorized SBA Lender
The SBA works only with designated, authorized intermediary lenders across the country to provide financing to small businesses. First United is one of these approved lenders and is here to help you and your business through the good times and the challenging times.
We’re here to help.
If you are facing uncertainty, early communication with us is important, and we’re here to help! Reach out to us as soon as possible to discuss all the available programs, options and solutions that we can offer to help support you and your business. We have supported the local communities we serve, those that we call home, since 1900 and we will continue to deliver on our promise of uncommon service and solutions, through the good times and the challenging times.