Second Draw | Paycheck Protection Program Loans

Paycheck Protection Program (PPP) Loans

Updated: January 15, 2021

On December 27, 2020, a new bill was passed into law providing economic support to businesses. The additional Paycheck Protection Program (PPP) funding allows prior PPP applicants to apply for a second PPP loan, as well as first-time applicants.

The first day to apply for a PPP loan is January 19, 2021. Applications must be submitted to the Small Business Administration (SBA) by March 31, 2021.

Am I eligible to apply?

The Second Draw PPP loan is intended for small businesses who have exhausted their initial PPP funds for qualified expenses and the maximum amount for the loan is $2 million. To apply for a Second Draw PPP loan, the following requirements must be met:

  1. You must have obtained a First Draw PPP loan and used the full amount for eligible expenses.
  2. Your business must currently be in operation.
  3. You must have less than 300 employees.
  4. You must be able to show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019.

For first-time applicants, most businesses are eligible for a PPP loan in the amount of up to 2.5 times your average monthly payroll during the year preceding the application, or up to 3.5 times your average monthly payroll for businesses in the accommodation and food service industry. The maximum amount for first-time applicants is $10 million.

Where can I learn more?

The SBA and Treasury have provided program guidance along with instructions on how to apply. We recommend you visit the Treasury website for more details.

How can I get started?

To inquire about a PPP loan through Emprise Bank, please contact your lending representative or email Please do not use this email to submit applications.

To learn more or apply for a PPP loan through our lending partner, Kabbage, please click here. Kabbage can only process loans up to $2 million.