SBA Paycheck Protection Program (PPP)


The Paycheck Protection Program (PPP) is now open again for both new and repeat small business borrowers. If your business has not previously gotten a PPP loan, you are likely eligible for a PPP First Draw Loan. If your business already got a PPP loan during 2020, you may be eligible for a PPP Second Draw Loan if your business experienced a significant revenue reduction over the past year (see details below). Both programs offer fully forgivable loans when used for payroll and other eligible expenses. Please read the section below that applies to your business for a summary of what is available to you. 


If your business previously received a PPP loan during 2020, you are likely eligible for another PPP loan IF your business experienced at least a 25% reduction in gross revenue (sales) during at least one quarter of 2020 compared to the same quarter in 2019 (or for the entire year) and has no more than 300 employees. To qualify for a Second Draw Loan, your business must have no more than 300 employees. If you qualify, you will receive 2.5x your average monthly payroll during 2019 or 2020, or 3.5x if your business is categorized as NAICS code 72 (accommodations or food service business). This higher loan amount for those industries is designed to help offset the dramatic impact that many businesses in this industry have suffered due to the pandemic. 

Second Draw PPP loans can be used for the same types of expenses as your original PPP loan (payroll expenses, rent, mortgage interest, and utilities) plus COVID-related expenses (personal protective equipment or workplace accommodations), supplier expenses, and other interest expense and operating expenses. As long as the loan funds are used for these items (and at least 60% for payroll expenses) within 24 weeks of the loan date, you will be able to apply for full forgiveness.  

How to Apply:  Application links for Second Draw PPP loans have been emailed to all of our previous PPP borrowers. If you are a previous PPP borrower and have not received your email link from, please check your spam filter or junk folder for security reasons or, if you don’t find it there, contact your NobleBanker or email this email address. If you did not get your original PPP loan through NobleBank but want to get your Second Draw loan through us, please call a NobleBank office or email us at and we will send you an application link so you can get started. 

NEW BORROWERS (PPP First Draw Loans) 

If your business has not previously gotten a loan during 2020 under the Paycheck Protection Program, you are likely eligible under basically the same terms that other borrowers got during the initial phase of PPP. As long as your business has less than 500 employees, you may be eligible for a loan equal to 2.5x your company’s 2019 (or 2020) monthly average payroll. These loans must be used for payroll expenses, rent or mortgage interest, utilities, or COVID-related expenses (personal protective equipment or workplace accommodations). If you use the loan funds for these items and at least 60% for payroll expenses during the 24-week period after you receive the money, the loan should be fully forgivable. 

How to Apply:  To apply for a new PPP First Draw loan, click here to access our online application: