We understand how much the events of the past year have impacted the financial stability of businesses around the country. As businesses struggle to recover from the financial turmoil caused by the pandemic, Capital Area Realtors FCU has expanded its PPP program in an effort to help more businesses looking to apply for a Paycheck Protection Program loan. CARFCU has helped our members successfully receive PPP funds, and we are looking forward to helping businesses around the country navigate the program.
If you encounter any issues or have any questions during the application process, please feel free to reach out to our team at firstname.lastname@example.org, or by calling us at 240-451-9545.
Per SBA guidelines:
Per SBA guidelines, companies qualify for a PPP loan if they are:
Per SBA guidelines, companies qualify for a Second Draw PPP loan if they:
Per SBA guidelines, your loan may be forgiven if:
We know the PPP process can be complicated. We’ve helped dozens of our members both apply for and get forgiveness of their loans. Our expert team is here to help navigate and simplify the PPP process.
Tell us more about your company and how to best reach you. One of our member representatives will be in touch shortly to get the PPP loan process started.
You can also reach us at email@example.com, or by calling us at 240-451-9545.
To All Our Member Applicants & Realtor Prospects –
It is my solemn privilege to write to all of you this evening. Serving as President of Capital Area Realtors Federal Credit Union (CARFCU) for over 30 years, I can honestly say the past year has been unlike anything I’ve ever experienced.
Since launching an expanded PPP Program, our staff has received multiple inquires about our legitimacy, our services and of course, the status of PPP applications.
I would like to take a moment to address some of these questions and concerns.
CARFCU – I never heard of you?
We recognize, especially for our PPP applicants outside Greater Washington DC area, why a few have called requesting CARFCU history. We have spent the majority of our tenure servicing those local to DC/MD/VA. It is against the backdrop of a global pandemic, robust financial strength and newfound resources that we felt an obligation to expand our reach outside our immediate footprint to help those who have been impacted adversely by this pandemic.
Our Federal Charter has existed for over 50 years and regulated by the National Credit Union Association (NCUA), but I encourage everyone to review our charter & associated financials: Charter #20543. Our registered NMLS #:811806. We also earned and maintain an NCUA Low Income Designation showing our significant efforts to reinvest in low-to-moderate income areas here in the Capital Area.
What’s with the Delay on my PPP Funds?
I’ll address this question in two parts. Certainly the more obvious of the two is that with an extension of the SBA Deadline, financial institutions and lenders at large have seen an influx of applications that have created a bottleneck.
Secondly in a digital world, cybersecurity is of paramount importance and the protection of our members is second to none. We have spent time and invested significant resources into the protection of your data to insulate us from phishing, malware, and other forms of cyber attacks. Cyber attacks continue to grow and associated scams have only increased with PPP funding.
Not only are we conservative and asking for excess documentation to fund your loans the first time, but, we are doing our channel checks to protect our members and Credit Union from fraudulent applicants. This is truly time-consuming but in the best interest of our members.
As a Realtor, should I consider CARFCU for the Long Term?
With no hesitation, I continue to believe that we understand Realtors, bar none. Our Board brings over 100+ years of Real Estate, Mortgage Lending. Legal and Commercial Banking experience.
Further we truly continue to innovate in the interest of Realtors and their end users as we expand partnerships with Fintechs, Banking Partners and other investors who share our Ethos.
We are able to operate a bespoke model to truly cater to our members and deliver. From savings accounts to auto loans to mortgages rates, we remain fiercely competitive.
We have always believed that Realtors are the “eyes and ears” into the needs of their local communities and have the ability to make the most difference as it relates to homebuying, and financial literacy.
Our Board of Directors, our Staff and the PPP Team continue to be ever vigilant in our efforts to best serve you.
It is both a pleasure and an honor to assist Realtors during this pandemic. This too shall pass, and we will re-emerge stronger than before.
We’d be honored to have you join us and continue to grow with us as we endeavor to help those who need it most.
Anthony Launi, President