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Business Resources

Resources for your business during the COVID-19 Pandemic

Paycheck Protection Program Forgiveness | Submitting Your Forgiveness Application | Paycheck Protection Program Applications | Accessing Your Accounts

We are here to help!

ELGA Credit Union is working to help businesses address the challenges of the Coronavirus.

Federal and State Relief Program 

Payment books were sent in error to some loan recipients.  If you received a payment booklet please disregard.  We apologize for any confusion.  If you have any questions please reach out to your loan officer.  

Important Paycheck Protection Updates 

For more information on the Paycheck Protection Program visit SBA.gov

Paycheck Protection Program Forgiveness
We are now accepting PPP Forgiveness Applications. Please carefully review the below information. If you have any questions please contact your loan officer.

Click HERE for Frequently Asked Questions about PPP loan forgiveness.  

Loan Amounts $150,000 or less
If your PPP loan amount is $150,000 or less, you may now submit your loan PPP Forgiveness Application using Form 3508S Application/Instructions.

Loan Amounts greater than $150,000
If your loan amount is greater than $150,000, you may now submit your PPP Forgiveness Application. There are two forgiveness application options, depending on your situation:

If you satisfy the following criteria, you can use the EZ Forgiveness Application/Instructions.
• The annual salary or hourly wage of any individual employee was not reduced by more than 25% during the Covered Period or Alternate Covered Period compared to the period January 1, 2020 to March 31, 2020.

-AND-

• The number of employees or average paid hours of those employees were not reduced between January 1, 2020 and the end of the covered period -OR - The borrower was unable to operate during the Covered Period at the same level of business activity as before February 15,2020, due to compliance with requirements established or guidance issued after March 1, 2020 by certain public health agencies

If you do not meet any of the above criteria, you can use the standard Forgiveness Application/Instructions.                                                                                                                                                    

Submitting Your Forgiveness Application
Once you have completed the application and collected all required documents please upload your application and supporting documentation to this link.  Once you have uploaded the information a member of our Business Services Team will contact you with next steps.    
Note:  Please be sure to complete and collect all required information. Missing information will delay the forgiveness process. 

If you have any questions, feel free to reach out to your loan officer or fill out the Contact Us form and we will be in touch with you.

Michigan's Work Share Program
Michigan’s Work Share program allows employers to restart their business and bring employees back from unemployment. Employers can bring employees back with reduced hours - while employees collect partial unemployment benefits to make up a portion of the lost wages. Employers can also retain their current workforce and are given the flexibility to choose which of their employees are part of a Work Share plan.

Work Share Program Information
Work Share Brochure

Click HERE for Paycheck Protection Loan Frequently Asked Questions.  

Paycheck Protection Loan Applications
We are now accepting applications for Paycheck Protection loans. The Paycheck Protection Program (PPP) provides loans to help businesses keep their workforce employed during the Coronavirus (COVID-19) crisis. First Draw Loans are for first time program participants. Second Draw Loans are for certain businesses who have previously received a PPP loan.  The second round of PPP funds is more targeted; in that businesses will be required to show a demonstrated loss of gross revenues by 25% due to COVID-19.  

If you have previously received a PPP loan: 
Overview:  Paycheck Protection Program Second Draw Loans
Second Draw Loan Application Checklist
Paycheck Protection Program Second Draw Borrower Application Forms
Schedule C Filers (Gross Income):  Second Draw Borrower Application Form for Schedule C Filers Using Gross Income (revised March 18th, 2021) 
Other Filers: SBA Form 2483-SD, Second Draw Borrower Application Form (revised March 18th, 2021)
Please click HERE for a tool that will help you determine eligibility.
  
If you are a first time program participant:  
Overview: Paycheck Protection Program First Draw Loans
First Draw Loan Application Checklist
Paycheck Protection Program First Draw Borrower Application Forms
Schedule C Filers (Gross Income):  SBA Form 2483-C, Borrower Application Form for Schedule C Filers Using Gross Income (effective March 18th, 2021) 
Other Filers:  SBA Form 2483, Borrower Application Form (revised March 18th, 2021) 
am First Draw Borrower Application Form

Once you have completed the application and collected all required documents please upload your application and supporting documentation to this link.  Once you have uploaded the information a member of our Business Services Team will contact you with next steps.    
Note:  Please be sure to complete and collect all required information. Missing information will delay the loan process. 

Accessing Your Account

There are many ways to access your money and manage your ELGA Credit Union accounts. These options include Online and Mobile Banking, ELGA’s call center, your ELGA Debit and Credit Card, visiting ELGA Credit Union ATMs and Teller Machines, and access to a network of over 30,000 Co-Op ATMs.

You can also utilize our drop box locations. Drop boxes are located in the drive thru at the following branches; Burton, Clio, Davison, Fenton, Flushing, Goodrich, Holly, Lapeer, Linden, and Saginaw. Walk up drop boxes are also located in Downtown Flint, Fenton, and Flint. Drop Box deposits are processed each morning (business days only).

All ELGA Credit Union branches are open with regular business hours. A list of all branch locations and hours are available here.

For the safety of you and our team while in our branches:

  • We are limiting the total number of members allowed in our branches. You may be asked to wait outside the branch until our lobby is available.
  • Please respect social distancing of at least 6 feet while waiting for your transaction.

Please reach out with any questions. You can contact us at (810) 715-3542. Our call center associates are ready to assist you with your financial needs.

Our call center hours are:

  • Monday, Tuesday, Thursday, and Friday: 8am-6pm
  • Wednesday: 9:30am-6pm
  • Saturday: 10am-1pm