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SBA Second Draw

PPP Second-Draw Guidance and Updates

  • Paycheck Protection Program (PPP) Update – Tuesday, January 19, 2021
    • Second Draw Paycheck Protection Program (PPP) Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide (Released 1/19/2021)
    • Reminder – First Draw PPP Loans Under Review May Be Delayed Getting Second Draw PPP Loan Number
      As described in SBA’s interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities, SBA may review any PPP loan, as the Administrator deems appropriate.  If a borrower’s First Draw PPP Loan is under review by SBA and/or information in SBA’s possession indicates that the borrower may have been ineligible for the First Draw PPP Loan it received or for the loan amount it received, the lender will receive notification from SBA when the lender submits an application for a guaranty of a Second Draw PPP Loan and will not receive an SBA loan number until the issue related to the unresolved borrower’s First Draw PPP Loan is resolved.  SBA will resolve issues related to unresolved borrowers expeditiously.


SBA Re-Opening Paycheck Protection Program to Small Lenders on Friday, January 15 and All Lenders on Tuesday, January 19

Lenders with $1 Billion or Less in Assets Will be Able to Submit First and Second Draw PPP Applications on Friday – Continuing Dedicated Access for Community-Based Lenders

The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or less in assets for First and Second Draw applications on Friday, January 15, 2021 at 9 a.m. EST.  The portal will fully open on Tuesday, January 19, 2021 to all participating PPP lenders to submit First and Second Draw loan applications to SBA.

On Friday, SBA will continue its emphasis on reaching smaller lenders and businesses by opening to approximately 5,000 more lenders, including community banks, credit unions, and farm credit institutions.  Moreover, the agency also plans to have dedicated service hours for these smaller lenders after the portal fully re-opens next week.

First Draw PPP Loans are for those borrowers who have not received a PPP loan before August 8, 2020. Second Draw PPP Loans are for eligible small businesses with 300 employees or less, that previously received a First Draw PPP Loan and will use or have used the full amount only for authorized uses, and that can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020. The maximum amount of a Second Draw PPP loan is $2 million. 

The Small Business Administration (SBA) announced that the Paycheck Protection Program (PPP) will reopen the week of January 11. All participating lenders are expected to gain access to the program on or after January 13.

New PPP borrowers can submit your application on Monday, January 11. If you have already exhausted your first PPP loan, the process for second draw will be available beginning Wednesday, January 13.

We encourage all AAHOA Members seeking to participate in the PPP to contact your lenders if you have not already done so. The Small Business Administration (SBA) and the Department of the Treasury released the following guidance pertaining to the second round of the PPP.

Paycheck Protection Program (PPP) Policy Update – Friday, January 8, 2021

SBA, in consultation with the Treasury Department, has recently released additional PPP forms and guidance:  

Updated First Draw Forms

Second Draw Forms

Guidance & Resources

For more information and updates, visit or 

AAHOA Member Financial Institutions* Participating in the Paycheck Protection Program

*Please note, the following financial institutions are only accepting current/existing customers

Creative Lending Solutions
Prajesh N. Patel

Customers Bank
Tiffany Kidd

Fountainhead Commercial Capital
Chris Hurn

Live Oak Bank*
Jamie Bourgeois
*If you are not a current Live Oak Bank customer, you can fill out this form to be notified by email once they have opened up the program to other businesses that are not current customers. 

PHD Financial
Paul Darrow
561-508-7558, ext. 1


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Resource Guide for AAHOA Members: How to Contact Your Congressional District Offices

If you are looking for assistance with PPP or EIDL Loans, contacting the district office of your Representative or Senators can be helpful and make a big impact. AAHOA has created a brand-new guide to help walk members through how to find congressional district office contact information for their Representatives and Senators.

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