Westbrook, Maine, April 15, 2020 (GLOBE NEWSWIRE) -- Infinity Federal Credit Union (FCU) is no stranger to working with the Small Business Administration (SBA). The credit union was recognized as Maine’s Leading SBA Credit Union Lender in 2018 and 2019.
Infinity FCU has gathered resources about the Paycheck Protection Program and created an information hub on its website. The hub includes the program application, frequently asked questions for borrowers, loan calculators, as well as a comprehensive checklist outlining all the documents needed to move forward with applications.
Business owners can download the relevant documents and submit them for processing via the secure portal on Infinity FCU’s website. The Small Business Team is working diligently with the SBA to keep applications moving through the pipeline. Infinity FCU is prepared to process applications from business with an existing banking relationship and potential borrowers who don’t have an established relationship with the credit union.
“Infinity FCU is an experienced SBA lender and the CARES Act provided an opportunity for us to jump out front and help our community like never before,” says Infinity FCU President/CEO Elizabeth Hayes. “We value small businesses as an economic driver for Maine and we are excited to participate in keeping Maine small businesses and communities strong.”
“As a local non-profit, COVID-19 brought on many challenges, among them was paying our employees during these uncertain economic times. The new CARES Act offered relief by allowing us to apply for a loan to cover payroll. However, navigating the application process was difficult with so little guidance,” says Claude Rwaganje, Executive Director, ProsperityME. “Last week, we reached out to Infinity FCU for help. They walked us through the process and within 2 days of submitting our application, we were approved. I am so grateful to their Small Business Team for helping us so quickly. We couldn't have done it without their help. Now, we can focus on the important work of helping our immigrant community navigate these turbulent economic times instead of worrying about how to pay our employees.”
“Infinity Federal Credit Union has been an excellent partner for our small business when we were most in need,” says Hester W. Mishkin, Co-Owner, Centerpoint Martial Arts. “Working closely as a team, they’ve been extremely prompt, communicative, and detail-oriented to maximize our success. They were fast and thorough right from the start. Their team offered expert insights into business lending details that we would have otherwise missed making a significant impact. We’ve felt truly supported and appreciated as a local family business and we’re most grateful for their strong work ethic and commitment.”
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About Infinity Federal Credit Union
As Maine’s first credit union, Infinity Federal Credit Union has been serving its members since 1921, initially as the Telephone Workers Credit Union of Maine, then as Telco of New England FCU. Infinity FCU is now community-based, available to anyone who lives, works, worships or attends school in Cumberland and York counties and the city of Bangor, Maine. Infinity FCU is a not-for-profit cooperative organization owned by its members and guided by the vision: “We do banking differently to keep you a step ahead in life.” For more information about Infinity FCU, please visit www.infinityfcu.com.
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