LATEST UPDATE – 5/6/2021

The SBA informed lenders Tuesday afternoon that the PPP general fund was out of money and that the only remaining funds available for new applications are set aside for community financial institutions (CFIs), which typically work with businesses in underserved communities. The agency also has set aside funds for PPP applications still in review status or needing more information due to error codes.

LATEST UPDATE – 3/17/2021

The PPP Application Process is closed.  We are not accepting any new applications for this round of PPP. Any existing applications within the portal must be completed and submitted to the Bank by March 22, 2021.


The SBA announced new changes for the PPP program aimed to further promote equitable relief for America’s smallest businesses.  New applications and complete SBA guidance is pending in early March. Here’s what we know so far: 

  • The 14-day Exclusivity Period for Businesses With Less Than 20 Employees 
  • From 9:00 am on February 24, 2021, through midnight on March 9, 2021, the SBA will only accept applications from borrowers with fewer than 20 employees. 
  • Applications already submitted by lenders to the SBA before the start of the exclusivity period will still be processed. 
  • During the exclusivity period, SBA will reject any new applications that have 20 or more employees. 
  • When counting employees, each employee counts as one regardless of whether they are full-time, part-time, or seasonal. 
  • The Revised Formula for Schedule C Filers 
  • Beginning in early March, Schedule C filers will be able to calculate their maximum PPP loan amount using the gross income on line 7 of IRS Form 1040 Scheule C rather than line 31. 
  • Elimination of the Exclusionary Restriction on Small Business Owners with Felony Convictions 
  • In March, the SBA will eliminate restrictions on businesses with owners who have prior non-fraud convictions. However, restrictions will remain in place for borrowers with an arrest or conviction for a felony fraud within the past 5 years and those who are currently incarcerated. 
  • Elimination of the Exclusionary Restriction on Small Business Owners with Student Loan Debt Delinquencies 
  • SBA has partnered with the Department of Treasury and Education to eliminate restrictions on businesses with 20% or more owners who have student loan debt delinquencies. 
  • Elimination of Restrictions on Non-Citizen Business Owners 
  • The SBA will be issuing guidance clarifying that non-citizen small business owners who are lawful U.S. residents (ie. green card and visa holders) may use Individual Taxpayer Identification Numbers (ITINs) to apply for relief. 


  • SBA is using a new platform and process for this round of PPP Funding.   
  • After the Bank submits the application it goes through several validation points during the SBA process.  
  • SBA is checking public records on this round of PPP. If your loan presents an error code during the processing of the application which cannot be cleared by the Bank, you will be notified. 
  • For second draw applications please be sure to include the correct SBA Loan number and prior PPP loan amount. 
  • In regards to EIDL loans, only include the outstanding EIDL loan (net of any advance received by SBA) if your EIDL loan was made between 1/31/20 and 4/3/20. 
  • When you complete your online application, you will be prompted to sign via Adobe E-sign that will come in two emails – Please be sure to open both emails and follow the prompts to ensure that you are signing/initialing in all locations to prevent delay in the bank reviewing your application.  
  • Please be sure to upload the following supporting documentation to prevent delays in the bank reviewing your application: 
    • Payroll documentation to support average monthly payroll calculation 
    • Documentation to evidence you were in business operations prior to February 15, 2020 
    • Second-Draws Only: Documentation to support a revenue reduction of at least 25% between 2020 and 2019.  

Congress approved $285 billion for Paycheck Protection Program (PPP) loans for small businesses. Please see the highlights of what we know, we will share additional details as we learn more:

  • First time borrowers. In general, borrowers can have no more than 500 employees and their business must have been in operation as of February 15, 2020. The first loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum.
  • Second-time borrowers. Businesses can apply for a second PPP loan if they’ve spent or expect to spend the full amount of their first PPP loan before they receive funding for the second loan. In general, borrowers can have no more than 300 employees. The second loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
  • Accommodations and Food Services companies with NAICS code 72 can borrow up to 3.5 times the business’ average monthly payroll costs, up to a $2 million loan maximum.
  • All businesses applying for a second PPP loan must show that their business revenue declined by at least 25% in any quarter in 2020 compared to the same quarter in 2019.
  • Businesses can apply for a second loan whether or not they have requested Forgiveness.
  • These highlights will apply to many borrowers, but there are some exceptions. For full program details, visit and


  • You may want to contact your accountant, attorney or other trusted advisors.
  • We will not accept any emailed or walk-in application forms.
  • Fresno First Bank will use a new online application process for this round of PPP.
  • Keep checking back here for updates.
  • Google Chrome is the best browser to use while completing your application.