SBA Loan Resource Center

The newest round of PPP has brought about changes. This includes expanding the list of eligible expenses, setting aside money for smaller lenders, and allowing some borrowers to apply for a second PPP loan. 

Small businesses can apply for a second PPP loan through March 31st, or until funds are depleted, if they fit into the following criteria:

 1. The borrower has used the full amount of their first PPP loan.

 2. The business has less than 300 employees.

There are some exceptions for businesses in the hospitality or food services industry (NAICS 72), and some eligible new organizations.

3. The loan size does not exceed $2 million

  • Loan can be up to 2.5x the average monthly payroll costs during one-year period before loan or during 2019 calendar year.
  • Loan can be up to 3.5x the average monthly payroll costs if the borrower is in the hospitality or food services industry. (NAICS 72)

4. The business is an "eligible entitiy" including, but not limited to:

  • Nonprofit
  • Housing cooperative
  • Veterans organization
  • Tribal business concern
  • Eligible self-employed individual, sole proprietor, independent contractor
  • Small agricultural cooperative


The borrower must demonstrate the required 25% reduction for a second-draw PPP loan.

If the entity was in business:But not in business:Then it might be eligible for a second draw if:
All of 2019n/aGross receipts from any quarter in 2020 dropped 25%+ from the comparable quarter in 2019
Q3 and Q4 2019During Q1 or Q2 2019Gross receipts from Q1, Q2, Q3, or Q4 2020 dropped 25%+ from either Q3 or Q4 2019
Q4 of 2019During Q1, Q2, or Q3 2019Gross receipts from Q1, Q2, Q3, or Q4 2020 dropped 25%+ from Q4 2019
On 2/15/2020During 2019Gross receipts from Q2, Q3, or Q4 2020 dropped 25%+ from Q1 2020

Please note, as of December 1, 2020 the Small Business Administration released public data about Paycheck Protection Program Borrowers. Information released included the borrower's names, addresses, exact loan amounts and who their PPP lenders were. This was done by court order. We, as your bank, did not publicly disclose the data and played no role in the court decision. We take our commitment to protect your privacy seriously, and we always follow all applicable laws and regulations. 

With this data becoming public knowledge, we have unfortunately heard that there are third-party businesses using information from the court-ordered data release to market their services and company to First Financial PPP customers. These communications may reference our bank’s name or imply that we conduct business with these entities. We are not. As we have done in the past, we communicate directly with you about your PPP loan and the forgiveness process. If you have any doubt, please call your lender directly.