As of August 3rd we are no longer accepting PPP Loan applications

There have been some changes to the program over a period of time. We have included below under the “Resources” section both the most current Interim Final Rule and the most up to date Frequently Asked Questions…FAQ’s. These tools will be very helpful to you in filling out your online PPP loan application. Please remember that Mid-Atlantic is only accepting online applications which can be found on this page. . 

Please note that MAFCU is only accepting Paycheck Protection Program (PPP) applications from existing business members. To open a business membership with MAFCU, click the button below. Once a business membership has been established you are welcome to apply for the PPP loan.

Open a Business Membership

Thank you,

MAFCU Representative.



The Paycheck Protection Program provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities.


Forgiven Loans

Funds are provided in the form of loans that may be forgiven when used for payroll costs, interest on mortgages, rent, and utilities. A change in the authorization language now requires that at least 60% of the forgiven amount must have been used for payroll. Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees. The borrower may now utilize the funds over a longer period of time than the previous legislation allows. The borrower may choose to wait up to 24 weeks or December 31 from the date of the loan disbursement to use the funds and ask for “Forgiveness”.

Must Keep Employees on the Payroll—or Rehire Quickly

Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels. Forgiveness will be reduced if full-time headcount declines, or if salaries and wages decrease.

All MAFCU Small Businesses Eligible

Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—are eligible. Businesses with more than 500 employees are eligible in certain industries.

When to Apply

Starting April 3, 2020, small businesses and sole proprietorships can apply. Starting April 10, 2020, independent contractors and self-employed individuals can apply. We encourage you to apply as quickly as you can because there is a funding cap.



PPP Interim Final Rule

Frequently Asked Questions

The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury. Lenders should also visit or for more information


Documents Needed to Apply

Please note that we will also ask for:

  • Citizenship Status
  • Date Business Established 
  • Drivers License or other suitable government issued I.D. along with the date of organization of the business should be loaded into the Sageworks document folders on the documents page by pressing “Add a new document.”
  • When applying, Sole Proprietors and independent contractors should include their 1099s as well as Schedule C for 2019 as proof of income.

Click Here for Documents needed to apply