• New Members

  • American First Credit Union Offers PPP Loans to New and Existing Clients

    American First Credit Union, would like to extend this opportunity to all North Orange County Chamber of Commerce members provided the applicant either already has or is willing to open up an American First Credit Union business checking or business savings account prior to the PPP loan closing if/when they become approved for a PPP loan (and provided the SBA continues to have funds available).

    AFCU is accepting Payment Protection Program (PPP) Loan applications for all of its existing AFCU business account holders at this time. If you are interested in applying for a PPP Loan and you have not already been approved for one, you may apply with them.

    This program is limited for AFCU business account holders until June 30, 2020 or when there are no longer remaining SBA-PPP funds available, whichever comes first. If you have any questions regarding PPP Loans and how AFCU can assist you or your business during COVID-19, please call 800.290.1112.

    Click here for the application.
    Applicant Supporting Document Checklist

    To confirm the amount of average monthly payroll costs for the year ending December 31, 2019. For eligible payroll costs, the applicant must provide documentation supporting the calculated amount. This should include:

    • IRS Forms 940 and 941 - Employer’s Quarterly Federal Tax Return for each quarter in 2019
    • 2019 State Tax Filing Records
    • 2019 Federal Tax Return
    • 1099-MISC (if the applicant is an Independent Contractor)
    • IRS Form 1040 Schedule C (if the applicant is a sole proprietor)
    • Payroll Documents for 2019 could include:
      • Additional documentation may be provided to support vacation pay, group health insurance, retirement benefits, or other amounts the applicant has included.
      • Payroll Summary Report for the period 2/15/2019 to 6/30/2019 with corresponding bank statements - applicable for seasonal companies.
      • Payroll ledgers or summary reflecting each employee’s compensation for 2019.
        • Additional documentation may be provided to support vacation pay, group health insurance, retirement benefits, or other amounts the applicant has included.
        • Payroll Summary Report for the period 2/15/2019 to 6/30/2019 with corresponding bank statements - applicable for seasonal companies.
        • If a Payroll Summary Report is not available, Employee Pay Stubs may be provided for the corresponding period with corresponding bank statements, and breakdown of payroll benefits (vacation, allowance for dismissal, group healthcare benefits, retirement benefits).
        • Certification that all employees live within the United States. If any do not, provide a detailed list with corresponding salaries of all employees outside the United States.
    For business validation, each applicant must provide the following supporting documentation:
    • Corporations - Articles of Incorporation and Corporate Bylaws
    • LLCs - Articles of Organization (or Certificate of Formation depending on the state) and Operating Agreement
    • Limited Partnerships - Certificate of Limited Partnership (depending on state) and a Partnership Agreement
    • General Partnerships - Partnership Agreement
    • Sole Proprietorships - Updated Business License