The National Institutes of Health Federal Credit Union (NIHFCU) participated in the first phase of the Paycheck Protection Program (PPP) through the Small Business Administration. Healthcare businesses and practices had access to this program so they could stay open. To date, the NIHFCU PPP has helped keep more than 500 healthcare professionals in the Washington D.C. Metropolitan area from the unemployment line due to COVID-19.
The PPP allowed small businesses to obtain funds for payroll and other qualified expenses. Because the initial funding was quickly exhausted, a second phase of funding will be available beginning Monday, April 27, 2020 and will remain available until the appropriated funding is exhausted.
“During these uncertain times, we must provide more support than ever before,” said Senior Vice President/Chief Lending Officer, Frank Amantia. “The NIHFCU’s Paycheck Protection Program offers just that. It can help bring solace to our healthcare workers who put their lives at risk every day knowing they will still have a job the next day.”
The NIHFCU is also supporting healthcare workers through their recently launched website, SendaMessageofHope.com. The site welcomes everyone who wants to post an inspiring video or photo message to share with healthcare professionals during this challenging time.