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Now Accepting Second Draw PPP Loan Applications

We are now accepting Paycheck Protection Program second draw loan applications from current business checking customers who received a first round loan elsewhere. A customer is generally eligible for a second draw PPP loan if they meet the following requirements and terms:

  • Previously received a first round PPP loan from another institution and will or have used the full amount only for authorized uses.
  • Have no more than 300 employees.
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.
  • Maximum loan amount is $2 million.
  • Loan amount will be based on 2.5x average monthly payroll costs.
  • Businesses in the hospitality and food services industries are eligible for loan amounts based on 3.5x average monthly payroll.

Current customers who received a first round PPP loan at another institution, may apply below:

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Documentation Required

Please refer to the Treasury Resource for instructions and additional information:

First Round Paycheck Protection Program SBA Loan Number:  Peoples Bank will need your original PPP loan number in order to process your second round application.  

25% Revenue Reduction:  Applicants will need to provide documentation to prove a 25% reduction in gross revenue from one quarter in 2019 as compared to the same quarter in 2020.  If your application is for an amount over $150,000, you will need to provide this documentation at the time you submit your Second Draw PPP loan application.  If your loan is for $150,000 or less, this documentation is not required to be submitted with your application but must be provided on or before the date you request loan forgiveness. The revenue reduction may be evidenced by providing one of the following:

  • Internal accounting reports (comparing one quarter in 2020 to the same quarter in 2019)
  • If on cash basis, bank deposit statements for the three months in the quarter they choose in 2020 versus statements for the same quarter in 2019
  • 2020 and 2019 tax returns
  • Note:  Customers do not need to include PPP proceeds in the revenue figures for 2020

To calculate revenue reduction and maximum loan amounts including what documentation to provide, please click here.

Average Monthly Payroll:  Applicants will also need to provide payroll documentation evidencing average monthly payroll for either 2019 or 2020. Average monthly payroll may be evidenced by providing one of the following:

  • Payroll Processor Reports
  • Payroll Tax Filings (Form 941 from all four quarters in 2019 or 2020)
  • Form 1099-MISC
  • Schedule C
  • Schedule F


Customers are encouraged to contact their Commercial Banking Officer at the Bank and/or external resources for any additional guidance. You may also refer to resources on our website for specific details regarding your Peoples Bank loan: The SBA web site should be your primary resource.


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PPP Customer Support is available:

  • Mon - Fri: 8 am to 7 pm
  • Sat: 9 am to 4 pm
  • (800) 584-8859
  • Email Us

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