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Skip to main content Coronavirus (COVID-19): Relief options and Additional Resources CLICK HERE MENU Back to all topics Second Draw PPP Loans Eligible businesses may apply for a Second Draw PPP loan. Content Notice: Paycheck Protection Program resumed January 11, 2021 at 9am ET Loan details How and when to apply Notice: Paycheck Protection Program resumed January 11, 2021 at 9am ET SBA, in consultation with the U.S. Treasury Department, reopened the Paycheck Protection Program (PPP) for First Draw PPP Loans the week of January 11, 2021. SBA will begin accepting applications for Second Draw PPP Loans on January 13, 2021. SBA is currently accepting Second Draw PPP loan applications from participating community financial institutions (CFIs) and lenders with under $1 billion in assets, which includes approximately 5,000 institutions, including community banks, credit unions, and farm credit institutions. Lender Match can help you find a participating lender. The program will open to all lenders on January 19, 2021. At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods. Coronavirus (COVID-19): Relief options and Additional Resources CLICK HERE MENU Loan details The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. Maximum loan amount and increased assistance for accommodation and food services businesses For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million. Who may qualify A borrower is generally eligible for a Second Draw PPP Loan if the borrower: Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses Has no more than 300 employees; and Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020 How and when to apply You can apply for a Second Draw PPP Loan from January 13, 2021, until March 31, 2021. To promote access for smaller lenders and their customers, SBA will initially only accept Second Draw PPP Loan applications from participating community financial institutions (CFIs). All Second Draw Coronavirus (COVID-19): Relief options and Additional Resources CLICK HERE MENU PPP Loans will have the same terms regardless of lender or borrower. To be matched with a participating lender, visit SBA Lender Match. If you wish to begin preparing your application, you can download the following PPP borrower application form to see the information that will be requested from you when you apply with a lender: Paycheck Protection Program Second Draw Borrower Application Form (released 01-08-21) Supplemental materials Top-line Overview of Second Draw PPP Loans Frequently Asked Questions for Lenders and Borrowers (12-09-20) Second Draw PPP Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provid (01-19-21) Frequently Asked Questions for Faith-Based Organizations Participating in the PPP and Economic Injury Disaster Loan Program PPP Myth vs. Fact Affiliation rules Paycheck Protection Program Affiliation Rules Interim Final Rule for Applicable Affiliation Rules Next PPP Loan Forgiveness What We Do SBA Team Newsroom SBA Performance FOIA Inspector General Contact SBA Privacy Policy Coronavirus (COVID-19): Relief options and Additional Resources CLICK HERE MENU SBA en Español Blog Sign up for SBA email updates SUBSCRIBE U.S. Small Business Administration409 3rd St, SW. Washington DC 20416