• Fiffik Law Group, PC

File Your PPP2 Application Beginning Jan 11, 2021

The US Small Business Administration and Treasury released borrower loan application forms Friday night for the rebooted Paycheck Protection Program (PPP2), which will launch Monday, January 11, 2021, initially for select lenders and borrowers before a broader opening takes place a few days later.

Are you eligible for a second PPP Loan?

The forms are Form 2483 – Paycheck Protection Program Borrower Application Form and Form 2483-SD – PPP Second Draw Borrower Application Form. The Application Form is updated from previous versions that started with the original PPP program. Form 2483-SD is a new form for qualified PPP borrowers to seek a second draw of a forgivable loan as they try to navigate economic seas churning in the throes of the COVID-19 pandemic.

The SBA and Treasury also published summaries of the first-draw and second-draw PPP loans and a pair of procedural notices.

  1. Overview of First Draw PPP Loans

  2. Overview of Second Draw PPP Loans

Initial Applications Available for Community Financial Institutions

The SBA opened the program initially to community financial institutions (CFIs) that serve minority- and women-owned businesses to make loans. Specifically, CFIs can begin making loans to first-time PPP borrowers on Monday and second-time PPP borrowers on Wednesday.

The SBA and Treasury said the PPP would open to all lenders a few days after the opening for CFIs, but they did not specify a date.

Need help applying for a PPP2 Loan or other business matter?  Call 412.391.1014 or click here to be connected to one of our business attorneys.

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