Information About the Second Round of Paycheck Protection Program Loans


1/19/2021 Update: We are happy to inform that our window to start submitting applications to the SBA is now open on Tuesday, January 19th.



We will be adding some additional FAQs on our website to help answer some of the basic questions of the program. Below are some basic items to remember to apply and please see the FAQs if you have a question about an option below. 


If you have any additional questions while working on your application, please send an email over to [email protected] with your business name and basic info about your question. An email will be issued as soon as possible since our team will be very busy working everyone’s applications. This will be the fastest method for us to get the correct information to you as well as as schedule a call to discuss the details. As a reminder, our call center and branches won’t be able to answer specific questions about your application or the SBA PPP Program. 

Note: When Denali opens up its application process, they will only be accepting applications for current members of the Credit Union and will work non-member applications after all members have been served.

What is a CFI?

Community Financial Institutions include the following organizations: 

  • Community Development Financial Institutions, 
  • Minority Depository Institutions, 
  • Certified Development Companies, and 
  • Microloan Intermediaries

At this time, Denali is not considered a CFI and we are waiting until the next phase from the SBA.


How it Works

  • January 11th 2021: opens up for CFI’s (1.) and 1st time borrowers.  First round borrowers will follow the same guidelines and the old program.
  • January 13th 2021: opens up for CFI’s (1.) and 2nd time borrowers.

To be eligible for a 2nd draw you must have the following:

  • Previously received a First Draw PPP Loan and will or has used the full loan amount only for authorized uses before a second draw can be disbursed
  • Has no more than 300 employees
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020


New eligible expenses funds can be used to cover now include:

  • Worker Protection Costs related to COVID-19
  • Uninsured Property Damage Costs caused by looting or vandalism during 2020
  • Supplier Costs and Expenses for Operations

We want to help your business succeed!

Our Business Banking lets you focus on growing your business instead of worrying about distractions. We have your needs covered with business lending, business services and a full-service business center.

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Whether your business is just getting started or continuing to grow, Denali has the right combination of business services to meet your individual needs.

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Denali’s checking accounts are designed to help you manage your business without worry or hassle. We offer several account options to meet your business needs.


Business Savings Account

Denali’s business savings accounts offer easy terms, security, growth and competitive rates.


Business Credit Card

Business Visa® credit cards give you purchasing convenience, cost savings, available credit and detailed reporting — tools to nurture your business and help it thrive.



Remote Deposit Capture

Process payments from the convenience of your office with Denali’s remote deposit capture. There’s no need to visit a branch of stand in line. Just scan your checks on-site, review and submit for processing. Funds are available in 24 to 48 hours.


Automated Clearinghouse (ACH)

Denali’s Automated Clearinghouse Payment system allows you to electronically make or collect payments faster and at a lower cost. You can also process payroll direct deposit at a fixed cost.


Merchant Services

Our TSYS payment processing partnership gives your customers an easy way to pay. We offer a full line of payment acceptance products, including wireless credit/debit card readers that can plug in to any smart device such as a phone or tablet.