PPP Loans

PPP Loans

2021 SBA Paycheck Protection Program (PPP)

This round of PPP continues to prioritize millions of Americans employed by small businesses by authorizing up to $284 billion toward job retention and certain other expenses through May 31, 2021, and by allowing certain existing PPP borrowers to apply for a Second Draw PPP Loan. 

Thank you for your patience as we continue to receive guidance from the SBA.

Key PPP Updates Include: 

• There will be a short lapse between application submission and receiving a SBA approval and loan number;
• To be eligible for full loan forgiveness, PPP borrowers will have to spend no less than 60% of the funds on payroll over a covered period of either 8 or 24 weeks;
• PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
• PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
• The PPP provides greater flexibility for seasonal employees;

Questions - Please email PPP@fnbnorth.com

First Draw PPP Loans (Please read the First Draw Loan Overview from the Treasury for details.)
PPP loans will be available to first-time qualified borrowers (“First-Draw”).  


PPP Borrower First Draw Application Form

PPP First Draw Loans Overview


Second Draw PPP Loans (Please read the Second Draw Overview from the Treasury for details.)
Businesses that previously received a PPP loan will be eligible for a (“Second Draw”) and may apply for another loan of up to $2 million, provided they:
• Have 300 or fewer employees (compared to 500 for First-Draw borrowers).
• Have used or will use the full amount of their first PPP loan – applied for forgiveness.
• Can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.
• Additional criteria regarding eligibility by business type and activities can be found in the Interim Final Rule.

• Accommodation and food services operations (those with North American Industry Classification System (NAICS) codes starting with 72) with fewer than 300 employees per physical location may receive up to 3.5X average monthly payroll costs, as opposed to 2.5X for other eligible borrowers (similar to PPP1).


PPP Borrower Second Draw Application Form

PPP Second Draw Loans Overview


The following documents will be required for SBA loan applications.

  • SBA Application-Paycheck Protection Program with initials, signature, and date. (Please read all directions on the application carefully)
  • 2019 and 2020 Tax Returns (if 2020 is not completed provide a detailed 2020 Profit and Loss or 1099 MISC for independent contractors for 2020 if 2020 Schedule C not provided)
  • Copies of payroll tax reports filed with the IRS (including Forms 941, 940, state income and unemployment with wage detail tax filing reports) for the entire year of 2019 and 2020
  • Copies of payroll reports for each pay period for 2020. Such reports should include gross wages including PTO (which might include vacation, sick, and other PTO).
  • Documentation of other expenses if borrower wants to utilize
  • Provide a narrative to document the need for Second Draw request

Steps for application submittal:

  1. Save the Loan application to your computer before filling it out
  2. Resave after completion
  3. Upload the Loan application securely using the form below along with the required supporting documents.  Only fully completed applications with supporting documents will be accepted.

Submitting application without supporting documents will delay processing.


Upload at one of the two options below:


PPP Loan Application Document Upload

Files must be less than 16 MB.
Allowed file types: pdf doc docx.

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