Home > Business > Business Accounts > Coronavirus Member Business Updates

Coronavirus: Business Updates

We’re dedicated to protecting the health our employees, members, and our community. We appreciate you doing your part by following new lobby guidelines and using low– or no-contact options when possible.

Managing Your Account

OUCU Business Loan Support

If you're experiencing a hardship due to the impacts of the coronavirus, we want to help. Coronavirus financial assistance options include: 

  • Loan payment modifications
  • Loan payment deferrals 

Please contact us to discuss what OUCU can do for you. 

New! Athens County CARES Act Small Business Relief Fund

The purpose of the Athens County CARES Act Small Business Relief Fund program is to alleviate sudden and severe economic dislocation resulting from the COVID-19 pandemic business closures mandated bythe State of Ohio, and aims to provide monetary relief from business interruptions or additional precautions.Grants of up to $5,000 will be awarded in the first round of funding. Businesses may be eligible to applyfor a second round of funding for an additional $5,000.

Email application and supporting documents to admin@athenscountyohedc.com by Friday, October 30 at 3pm for consideration.Applications will be reviewed by the Grant Review Committee and final decisions will be awarded by the County Commissioners based on the grant review scoring rubric until the grant funding is exhausted. 

Business Relief Fund Flyer  Business Relief Application




PPP Frequently Asked Questions

Interim Final Rule Criterion for Seasonal Employers

First Interim Final Rule

SBA Rules for PPP

Interim Rule on Loan Increases

SBA Loan Review Procedures & Borrower and Lender Responsibilities

SBA Help desk phone number (614) 469-6860


PPP Forgiveness Application

Congress has passed legislation making a number of changes to PPP, including: 

  • Reducing the percentage of loan proceeds that borrowers must spend on payroll costs to obtain forgiveness from 75% to 60%
  • Extending the time period for spending loan proceeds on forgivable costs from 8 weeks to 24 weeks
  • Deferring payments on PPP loans until the SBA makes a forgiveness determination
  • For loans subject to this new legislation, the minimum term for repaying unforgiven amounts is five years; for loans made earlier, the borrower and lender can agree to amend the 2-year term to a longer term

In order to have your PPP loan forgiven, you must submit a forgiveness application. There are two versions of the PPP Forgiveness Application. Please refer to the PPP EZ instructions to see which application is right for you. 

After completing the application, please submit securely through the links provided below. 

PPP Loan Modification Information

PPP Loan Forgiveness FAQ 8_4_20

Regular Application:

The revised PPP Loan Forgiveness Application and instructions include a number of notable items. Among them are:

  • Health insurance costs for S corporation owners cannot be included when calculating payroll costs; however, retirement costs for S corporation owners are eligible costs.
  • Safe harbors for excluding salary and hourly wage reductions and reductions in the number of employees (full-time equivalents) from loan forgiveness reductions can be applied as of the date the loan forgiveness application is submitted. Borrowers don’t have to wait until Dec. 31 to apply for forgiveness to use the safe harbors.
  • Borrowers that received loans before June 5 can choose between using the original eight-week covered period or the new 24-week covered period



EZ Application:

The EZ PPP Loan Forgiveness Application requires fewer calculations and less documentation than the full application.

The EZ application can be used by borrowers that:

  • Are self-employed and have no employees;
  • Did not reduce the salaries or wages of their employees by more than 25% and did not reduce the number or hours of their employees; or
  • Experienced reductions in business activity as a result of health directives related to COVID-19 and did not reduce the salaries or wages of their employees by more than 25%.


New Simplified Application

This simplified form requires fewer supporting documents than the previously released EZ application and may make it easier to meet your forgiveness application filing requirements.

  • for loans of $50,000 or less


Simplified PPP Loan Forgiveness Form 3508S Instructions    Simplified PPP 3508 Checklist  Simplified PPP Loan Forgiveness Application Form 3508S 


PPP Forgiveness Application Consultations

Our Financial Services Tax and Accounting department can provide consultations to help businesses complete the forgiveness application. Consultations include:

  • Engagement agreement that outlines the scope of assistance (as required by the American Institute of Certified Public Accountants and Ohio Accountancy Board)
  • Detailed review that may increase the amount eligible for forgiveness
  • Reduced rate of $75 per hour (total cost estimated at $300)

For more information or to schedule an appointment for a consultation, please contact tax@oucu.org, (740) 597-2820, or schedule online.

As the lender responsible for reviewing and certifying submissions, OUCU’s Member Business department is unable to assist with completion of the application. 







Go to main navigation