Frequently Asked Questions
about the Paycheck Protection Program (PPP)

If you have questions about a certain aspect of the Paycheck Protection Program, click on the relevant topic below.

Second Draw Questions

When will you deliver my Second Draw DocuSign?

After your First Draw loan is dispersed, we will start the process for your Second Draw loan. You will receive a DocuSign email includes your Second Draw PPP application. Monitor your inbox and spam folder.

You must review and sign the DocuSign document to apply for a Second Draw loan through PPP Fast Lane. After you sign, your lender will review your information.

If your lender approves your application, your application will be held until SBA rules allow it to be submitted. The hold can last up to 20 days after your First Draw loan was approved.

Problems with your First Draw loan, including failed funding or another problem, could delay your Second Draw application or automatically cancel it. So make sure you have signed your First Draw promissory note and your bank details are uploaded to PPP Fast Lane.

You cannot receive a Second Draw loan unless your First Draw loan is fully disbursed. To comply with this rule, we will ensure your Second Draw loan is submitted to the SBA only after their database registers your First Draw loan in the correct status.

Changes to your loan

The amount of your Second Draw loan might differ from the amount of your First Draw loan. The calculation is different for Second Draw loans. Other details of your Second Draw loan should be consistent with your First Draw application.

Additional information required

We might ask you to provide extra information to support your Second Draw application. To avoid problems, we recommend you upload bank statements from 2019 and 2020 and provide a copy of a valid government-issued photo ID, for example, a driver’s license or passport.

We also recommend you upload your 2019 and 2020 Schedule C and Schedule F, if you haven’t already uploaded them. Upload your documents by logging in to your application.

What do I do if my bank account has changed?

If your bank account changes between your First Draw loan and your Second Draw loan, log in to your application and update your information.

Do I need to prove a 25% drop in revenue?

To apply for a Second Draw PPP loan, you must certify that you or your business had at least a 25 percent decrease in gross receipts in 2020. This calculation can be tricky. (For more information, see How to calculate revenue reduction and maximum loan amounts.) This percentage doesn’t affect your loan amount, but it does determine whether you are eligible.

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