January 12, 2021
SBA Officially Opening PPP - Accepting Applications
The SBA is officially opening the second draw PPP program Wednesday, January 13th. We began accepting applications from existing clients of the bank on Monday, January 11th.
If you would like to apply for a second draw loan, please send your information to firstname.lastname@example.org. We cannot emphasize the importance of only sending a single email.
- Signed and completed Application
– SBA 2483-SD (Second Draw) PPP Borrower Application webpage>>
(Be sure to initial questions 4 & 5)
– SBA 2483 PPP Borrower Application webpage>>
(For those applying for the first time)
- Borrower Acknowledgement Form >>
- Competed PPP Funding Document – Request of Deposit of SBA Paycheck Protection Program Loan Proceeds Form >>
- Financials validating your “average monthly payroll” figure. This will expedite your application process. You can use either 2019 financials or 2020 financials. Remember to “cap” each employee at $100,000.
Financials proving a 25% reduction in total revenue. This may be omitted if less than $150,000, but you will have to provide this information to be eligible for any forgiveness.
If you participated in PPP during 2020 using our Bank, you are an existing client. Our process for this round of PPP loans will be very similar to what we have done in the past.
Each client will send a single email with all necessary documents attached. If you want your application processed quickly, please refrain from using external links and password protected documents as that will slow your application down.
We also ask for your patience returning calls and emails. There will be a delay as we work diligently to process applications.