Business Community Relief Programs

Paycheck Protection Program (PPP) Loan Forgiveness

We are currently accepting forgiveness applications for all PPP loans issued in 2020. To apply, please submit your application through our online PPP Loan Forgiveness Portal.

PPP Loan Forgiveness Portal

You can use the email address you provided with your original PPP application to access the portal. After you log in, click “Start Forgiveness Application” on the left side of the page to begin. From there, the system will walk you through the application process.

If you do not obtain full forgiveness from the SBA within 16 months of your loan’s origination date, you must begin making monthly principal and interest payments. We encourage all PPP borrowers to submit a forgiveness application before the end of their loan’s deferral period.

Please email us at ppp@vystarcu.org if you have any questions.

Paycheck Protection Program (PPP) application portal is now closed.

As of March 31, 2021, VyStar Credit Union is no longer accepting new applications for funding through the SBA Paycheck Protection Program (PPP).

Thank you to the many small business members who applied for PPP funding with us. We obtained over $42 million on behalf of small business members in the latest round of funding and more than $175 million since the program was implemented in 2020 to help businesses keep their employees on the payroll. In total, these funds helped save more than 20,000 local jobs.

We will continue to process all applications received by March 31, and those who previously received funding will not be impacted. We know how important these funds are to you and your business, and we will continue to work with you through the forgiveness phase.

If you need additional information about coronavirus relief options that remain available to small business owners, please visit the SBA website.

City of Jacksonville Business Community Relief Loan Program

The one-year anniversary of the Business Community Relief Loan program is approaching, and the City of Jacksonville recently notified borrowers about whether their business remains in the program.

If your business remains in the program, you will make the principal and interest payment as reflected on your monthly bill beginning with the payment that is due the first month after the anniversary date of your loan. Once your payment has been made, you will be reimbursed by the City of Jacksonville for the actual amount of interest paid each month. The funds will be deposited into your business savings account.

If your business is no longer in the program, you will be responsible for the full principal and interest payments that will be due the first month following the anniversary date of your loan. There will be no interest reimbursement from the City of Jacksonville.

Eligibility for the grant program is determined by the City of Jacksonville. For additional information related to the program as administered by the City of Jacksonville, please visit the City of Jacksonville’s small business relief program webpage or email reliefgrant@coj.net.

For questions related to monthly payments, please email BusinessLoanServicing@VyStarCU.org.

Commercial Loan Deferment

VyStar is providing up to a 90-day forbearance on all eligible commercial mortgages.

Auto and equipment loans are eligible for up to 60 days deferral of payments. Commercial mortgage loan forbearance is essentially the same as a loan deferment, meaning members can skip pre-determined monthly payments for additional financial flexibility. This allows a business member to free up cash flow to meet the needs of their businesses.

Members will be asked to complete documentation as part of our mortgage forbearance assistance. If interested, please contact your Business Banker or email businessportfolio@vystarcu.org for more information and to get started.

VyStar is focused on assisting our business members as best as possible while they deal with the effects of the coronavirus (COVID-19). 

We recognize this is a challenging time for many, and we are available to discuss options that are tailored to meet the individual needs of each business. We offer several options that can help improve cash flow by delaying loan payments, allowing businesses to utilize their funds to meet their needs. Whether it’s through a business auto/equipment loan, commercial mortgage or business line of credit, we can help.

For additional information, please contact your nearest VyStar branch, Business Relationship Banker or email us directly at businessportfolio@vystarcu.org.

*APR=Annual Percentage Rate and is current as of April 1, 2020. All loans and accounts are subject to approval. Terms and conditions subject to change at any time without notice.