Paycheck Protection Program Second Draw Loans and First Draw Loans (PPP)

    As part of the Economic Aid Act signed into law on December 27, 2020, the Paycheck Protection Program for both the Second Draw Loans and First Draw Loans provide small business loans with up to 100% forgiveness to help businesses impacted by COVID-19.  The objective of this program is to help small businesses retain their workforce and assist in operational expenses. These loans are meant to help cover payroll, payroll benefits, rent, utilities, and other business related debt obligations. The current program ends on March 31, 2021.

Below you will find additional SBA Guideline details to both the Second Draw Loans and First Draw Loans.

 

To read more about the SBA Guidelines to First Draw Loans in the Paycheck Protection Program please click here.
 
To read more about the SBA Guidelines to Second Draw Loans in the Paycheck Protection Program please click here.

 

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If you are interested in learning more before applying for a loan under the SBA Paycheck Protection Program, submit your information below and we will get back to you.

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      This is not a loan commitment. All loan requests require an application and are subject to the Bank’s credit underwriting process for the requested loan.

      Non-bank customers, will be required to open up a business deposit account with Patriot Bank N.A., if your PPP loan application request is approved.