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First Draw Paycheck Protection Program Loans

 The SBA Portal for submitting PPP applications has been closed to most banks. 

New applications from participating CDCs (Certified Development Companies), SBA Microlenders, CDFIs (Community Development Financial Institutions) and MDIs (Minority Depository Institutions) will still be accepted through May 31st, or until the funds set aside for them have been exhausted.  

To find an eligible lender that is still participating in PPP,  please visit the SBA's website.

First Draw Paycheck Protection Program (PPP) Loans are now available through the Small Business Administration (SBA) to help Small Businesses keep their workers on payroll.  Your business may be eligible for a First Draw PPP Loan if you did not obtain a PPP Loan during the SBA's last round of PPP funding.  If you previously received a PPP Loan, you may be eligible for a Second Draw PPP Loan - click here to be redirected. 

Who is Eligible?

Small businesses with 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships and independent contractors are eligible. Businesses with more than 500 employees are eligible in certain industries. 501 (c)(6) organizations, housing cooperatives and eligible destination marketing organizations with 300 or fewer employees are eligible.

How Can the Funds be Used?

  • At least 60% must go to payroll costs (using the same definition of payroll costs used to determine loan eligibility), including costs related to the continuation of group health care benefits during periods of paid sick leave, medical, or family leave, and insurance costs
  • Not more than 40% can go to qualified non-payroll costs:
    • Mortgage interest payments on debt obligations incurred before February 15, 2020
    • Rent payments on leases dated before February 15, 2020
    • Utility payments (i.e. electricity, gas, water, telephone, internet) under service agreements dated before February 15, 2020
    • Operating expenditures, property damage costs, supplier costs, and worker protection expenditures

Borrowers may apply for forgiveness of the loan if all employee retention criteria are met, and the funds are used for eligible expenses.


When to Apply

Applications will be accepted through May 31, 2021 or until all funds have been exhausted.

Additional Resources

For more information, please click below to be directed to the Small Business Administration (SBA) and Department of the Treasury websites: