Business Services
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Why Liquidity Is One of the Smartest Tools for Your Business
For many business owners, having accessible savings means that operations can continue, even when things don’t go as planned.
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Positive Pay: A Step‑by‑Step Guide to Preventing Payment Fraud for Your Business
Positive Pay gives business owners stronger protection, tighter payment control, and greater peace of mind.
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Loan Types Decoded: Which One Fits Your Business Goals?
When your business needs extra funds, choosing the right loan can make all the difference.
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Preparing for Growth: When Is the Right Time to Borrow?
Every business owner wants to grow—but growth often requires resources.
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Protecting Your Business from Check and ACH fraud
In today’s fast-paced business environment, financial fraud is an ever-present threat, especially for small and mid-sized businesses.
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Strategies for Building a Cost-Effective Fleet for Your Business
Building a business fleet is more than just buying vehicles—it's a strategic investment that can impact your bottom line for years to come.
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Small business financial strategies to build resilience and thrive
In today's unpredictable economic landscape, small businesses face unique challenges that require robust financial strategies to ensure stability and growth.
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Business insurance essentials and assessing your coverage needs
Business insurance is a critical component of any successful enterprise, providing protection against a variety of risks that could otherwise jeopardize your operations.
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How to use RCU Digital Banking for Tax Documents
As tax season approaches, business owners often find themselves scrambling to gather the necessary documents. Fortunately, digital banking has revolutionized the way we manage our finances.
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What is an IOLTA and how does it work?
Managing client funds is a critical responsibility for law firms, and at Redwood Credit Union, we offer IOLTAs (Interest on Lawyers' Trust Accounts) to help law firms securely hold these funds while complying with legal requirements.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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