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Small Business Loan: Covid-19 Relief

We are here for you. If you are a Western Union Business Solutions client or a WU® Money Transfer Agent, you can now apply for a forgivable SBA Paycheck Protection Program loan through Western Union

Apply now

As part of the US government’s Coronavirus Aid, Relief and Economic Security Act, the Paycheck Protection Program offers a one-time loan for approved small businesses experiencing economic hardship:

Funding for payroll, rent/mortgage interest and utilities

Eligible for up to 100% loan forgiveness if terms are met

No collateral or personal guarantees required

No fees


The US Government has authorized limited funding for this program. Loan approvals and distribution will continue until funding is depleted. Because of high demand, it is important to apply as soon as you can. We may continue to accept and process applications after funding is exhausted, due to the possibility that additional funding may be made available by Congress at a later date. However, further funding is not guaranteed.

You can receive only one PPP Loan. Should you receive an approval from the SBA, be sure to cancel any pending applications with other providers.


Apply now


How the loan works

The Paycheck Protection Program is part of the US Government’s Coronavirus Aid, Relief and Economic Security Act signed by the President on March 27, 2020. Through the program, approved businesses can obtain financial support through the US Small Business Administration (SBA) to keep their workforce on the payroll and pay other approved expenses during this challenging time.


Borrow up to 2.5x qualifying monthly payroll expenses

1% fixed interest rate with a maturity rate of 5 years

100% loan forgiveness if 60% of funds are used for payroll

Businesses must apply for loan forgiveness


Successful applicants can use the loan to pay staff, rent, mortgage interest or utilities only, subject to the limitations set forth in the program requirements. The SBA loan program funding will continue until all funds are distributed. Because funding could run out quickly, it is important to apply as soon as you can.


Apply now

Who can apply?

US-based businesses in select industries with 500 or fewer employees are eligible. Some non-profit organizations, veterans’ organizations or Tribal business concern with more than 500 employees may also qualify, along with self-employed persons and independent contractors.
Visit the US Small Business Administration website for full loan qualification details.
Due to state law limitations, Western Union is not currently accepting applications from businesses in California, New Mexico, North Dakota, South Dakota, Rhode Island and Vermont.


What are the maximum and minimum loan amounts?

Western Union accepts loans through this process of up to $10 million.

What do I need to apply?

Applications for Paycheck Protection Program (PPP) are now open. You must certify that your business has not received a PPP loan from any other provider.
Loans are available to current Western Union Business Solutions clients and WU® Agents. To apply you will need:


Appropriate Business Identification Details (TIN, EIN, SSN for Owners/Individuals)

Financial Documentation to validate payroll expenses and the number of employees:

A business should provide supporting documentation such as payroll statements or a US federal tax return

A sole proprietor can use tax filings or income and expenses

An independent contractor can provide a 1099-MISC to determine earnings


If you cannot provide such documentation, you must provide alternative supporting documentation, such as bank records, to demonstrate payroll.

How to apply

Apply online for a Paycheck Protection Program loan through Western Union Business Solutions. To begin your application follow these simple steps:


Confirm your eligibility and gather all required information and documentation.

Begin the application process by submitting the requested information including average monthly payroll amount and supporting documents

If additional information or documents are required, we will send you an email link to our website with detailed instructions

Upon approval of your application you will receive loan documentation including the Western Union customer agreement and SBA promissory note to sign

How to qualify for loan forgiveness

Once your loan is approved by the SBA and loan funds are disbursed to you by Western Union, you are eligible to request SBA forgiveness. The loan will be fully forgiven if the funds are used for payroll costs, interest on mortgages, rent and utilities (at least 60% of the forgiven amount must have been used for payroll). Loans not forgiven by the SBA will be re-payable to Western Union with one percent interest, over a five-year period.
Forgiveness is based on the employer maintaining or quickly rehiring employees and maintaining salary levels, with exceptions.Business may still receive loan forgiveness if they are able to demonstrate an inability to rehire eligible employees eligible as of February 15, 2020 or hire qualified employees for open positions before December 31, 2020. If business were unable to return to regular operation due to government regulations, this too will be taken into consideration.
Be sure to carefully review the SBA requirements for loan forgiveness, including what supporting documentation will be required.
The SBA will provide additional information on how to submit a request for forgiveness, including required documentation.


For further information

Full details of the loan program can be found on the SBA website.
If you have questions about applying for the loan through Western Union, please contact PPPSupport@westernunion.com.