PPP Re-Opens to First Time Borrowers Today; Second Draw Applications Accepted on Jan. 13

Paycheck Protection Program (PPP) Policy Update 

SBA, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program loan portal this morning at 9 a.m. ET. The PPP loan portal system will initially accept First Draw PPP loan applications from participating Community Development Financial Institutions (CDFIs), Minority Depository Institutions (MDIs), Certified Development Companies (CDCs), and Microloan Intermediaries. Second Draw PPP loan applications will be accepted starting on Wednesday, January 13. PPP will open to all participating lenders shortly thereafter. 

Updated First Draw Forms 

• Form 2483 – First Draw Borrower Application (Updated 1/8/21)
• Form 2484 – First Draw Lender Guaranty Application (Updated 1/8/21)

Second Draw Forms

• Form 2483-SD – Second Draw Borrower Application (Released 1/8/21)
• Form 2484-SD – Second Draw Lender Guaranty Application (Released 1/8/21)

Guidance & Resources 

• Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance (Released 1/6/21)
• Top-Line Overview of First Draw PPP Loans (Released 1/8/21)
• Top-Line Overview of Second Draw PPP Loans (Released 1/8/21)
• Interim Final Rule #1 – PPP as Amended by Economic Aid Act(Released 1/6/21)
• Interim Final Rule #2 – PPP Second Draw Loans (Released 1/6/21)
• Procedural Notice – Modifications to SBA Forms 3506, 3507 and 750 CA (PPP only) (Released 1/8/21)
• Procedural Notice - SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement (Released 1/8/21)