Business Resources for Information and Financial Assistance

Resources and assistance for business members

Business owners and employers have been especially impacted by COVID-19 (coronavirus). As a trusted provider of business services we want to make sure that all of our business members and members who may have business accounts elsewhere are equipped with the resources they require to weather the current situation.

Below we have compiled several trusted resources that may be able to help during these unprecedented times.

If you have any questions or would like to learn more about Ideal CU's business services please contact Senior Business Relationship Specialist Josh Anderson by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or call him at 651-773-2763.

Paycheck Protection Program (PPP) Now Available for a Second Draw

We’re excited to announce that businesses that received a Paycheck Protection Program (PPP) loan through our partner Kabbage can now apply for a Second Draw PPP through K Servicing.* Businesses looking to apply for their First Draw PPP loan can visit K Servicing to get connected to one of their trusted partners.

Things to know in advance

• Second Draw PPP Loans are available for companies that have fewer than 300 employees and have seen a 25% reduction in revenues since their first PPP loan.
• You must use the full amount of your first PPP loan on or before the expected date your Second Draw PPP Loan is disbursed.
• If you’re seeking a loan of $150,000 or more, you’ll need to provide documentation (e.g., tax forms, financial statements, bank statements) to prove revenue reduction of 25% or more. For loans less than $150,000, you’ll just need to provide this information to receive loan forgiveness.

Apply Using Our Trusted Kabbage Partner Site

Apply Now

*In connection with American Express’s acquisition of Kabbage, Kabbage established K Servicing to maintain consistency in the way you manage your existing loans. Any Kabbage Funding loans or PPP loans taken prior to October 16, 2020—as well as new PPP loans—will be managed by Kabbage, Inc. through K Servicing.

If you have any questions or would like to learn more about Ideal CU's business services please contact Senior Business Relationship Specialist Josh Anderson by email at This email address is being protected from spambots. You need JavaScript enabled to view it. or call him at 651-773-2763.