Business Relief

Current Business Borrower Support

 

The Board of Directors, Management and Employees of American Heritage stand with our business members and we are here to help you through these challenging times.  We are waiving late payment fees on all commercial loan payments due in April 2020. If you need to speak with us about additional payment relief, please contact us at 215.969.0777.


Pineapple Icon

SBA CARES Loan Program

The recently passed CARES Act is intended to assist business owners with urgent financial needs and relief. Through our affiliate Member Business Financial Services, American Heritage is pleased to offer SBA Paycheck Protection Program (PPP) Loans.

  • The program provides cash-flow assistance through Federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, a large portion of the loan would be forgiven, helping workers remain employed, and small businesses recover more quickly after the crisis.
  • PPP has a host of attractive features, such as forgiveness of up to 8 weeks of payroll based on employee retention and salary levels, no SBA fees, and at least six months of deferral with maximum deferrals of up to a year.
  • Small businesses and other eligible entities will be able to apply if they were harmed by COVID-19 between February 15, 2020 and June 30, 2020. This is retroactive to February 15, 2020, in order to help bring workers who may have already been laid off back onto payrolls.
  • Businesses that have fewer than 500 employees, 501(c)(3) nonprofit organizations, 501(c)(19) veterans organizations are eligible to apply.
  • If you are not a current American Heritage business member, you can still apply for the SBA PPP loan.  Our business membership application is at the bottom of this page.

For questions or assistance regarding the SBA PPP loan, please contact our Commercial Lending team at 215.969.0777 x2789 or CommercialLending@amhfcu.org.


Who is eligible, what documents do we need to apply, and how can my business apply for the SBA PPP loan?

As the SBA is currently unable to accept new applications for the Paycheck Protection Program as a result of available appropriations funding, American Heritage is currently unable to accept additional PPP applications at this time.

Additional Resources

In addition to support programs provided by American Heritage and Federal government resources, states are also providing relief programs. Although American Heritage does not administer state programs, we encourage you to learn more.

Additional SBA Support: Other SBA business loan programs available include the Emergency Economic Injury Grant, Economic Injury Development Loan, Small Business Debt Relief Program (available for pre-existing SBA loans). To keep up to date on all available loan programs, or to apply for an Economic Injury loan, please visit the SBA website at www.sba.gov.

Pennsylvania Businesses Support: The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak. To learn more about eligibility and to apply, you can contact one of Pennsylvania’s Certified Economic Development Organizations (CEDO). To learn more about Pennsylvania’s CWCA program, click here.

New Jersey Business Support: The New Jersey Economic Development Authority (NJEDA) has launched a suite of new programs designed to support businesses and workers. The initiatives include grant programs, zero-interest loan programs, funding for entrepreneurs, and a variety of resources providing technical support and marketplace information.  Additional details on the NJEDA’s new programs, including eligibility requirements are available here.

For additional information about COVID-19, get the latest report from the Centers for Disease Control at cdc.gov or your local health department website.



Pineapple Icon

Waiving Late Fees

We are waiving late payment fees on all American Heritage credit cards in March 2020, and late payment fees on American Heritage credit card, consumer loan, mortgage and commercial loan payments due in April 2020.



Pineapple Icon
paper-pen

Ready to open a business account?

Before you get started, let’s make sure you have everything you need: Personal information and identification for all signers & All business-related documentation. If you have any questions, contact a Business Services Representative at 215.969.2883.

Pineapple Icon

Additional Account Form

We created this Account Form so you can easily request an update to your Business Account:


Pineapple Icon
touch screen

Online and Mobile Services

Take advantage of our Online Teller and Mobile Teller app — you can easily check balances, make transfers and pay bills through these free tools, without having to leave your home or come to a branch.

Pineapple Icon

Pineapple Icon

We will continue to closely monitor impact of COVID-19, as well as local and national economic conditions, and evaluate additional measures to support our members and the communities we serve.

For additional information about COVID-19, get the latest report from the Centers for Disease Control at cdc.gov or your local health department website.

The Board of Directors, Management and Employees of American Heritage stand with our members and we are here to help you through these challenging times.  We deeply appreciate your membership, and your well-being is our top priority.


Pineapple Icon

*Enroll in eStatements between January 1, 2020 thru April 30, 2020 and receive $5.00 deposited to your Share Savings account on your next statement cycle. Offer limited to one (1) $5.00 reward per account. Offer subject to change or cancellation without notice.