Rosedale Federal Paycheck Protection Program



Rosedale Federal's online application portal is now open for business customers considering a first- or second- draw Paycheck Protection Program (PPP) loan.  We know that you have a business to run so we are focused on making this process as efficient as possible for you.  

For information on the first and second draw PPP program, the U.S. Small Business Administration (SBA) announced the following:

  • The Paycheck Protection Program loan portal will be open to all participating PPP lenders  on Tuesday, January 19th.
  • The reopening applies to both first- and second-draw applications.
  • There will be dedicated service hours for smaller lenders after the portal is reopened.
  • Updated PPP Lender forms, guidance, and resources are available at www.sba.gov/ppp and www.treasury.gov/cares.
 

In order to speed up your PPP loan funding process, Rosedale Federal is requiring that business customers open a Rosedale Federal business deposit account. When your PPP loan is ready to fund, those proceeds will be deposited into your Rosedale Federal deposit account. Many PPP borrowers have found that keeping their PPP funding in a separate deposit account has made their documentation and forgiveness process much more efficient.

As we work through your PPP application, we will ask you which Rosedale Federal branch will be most convenient for you to use. After we receive your PPP application, one of our branch colleagues will reach out to you and help you open your deposit account.  

Here is a link to our business banking page to help you decided which type of account you would like to open.