SBA Payroll Protection Program -- Second Round

President Trump signed the Economic Aid Act on December 27, 2020 which extended the Paycheck Protection Program (PPP) and allows a Second Draw under the existing PPP to continue to keep workers employed during the COVID-19 crisis.

The Second round will once again be administered through the Small Business Administration.  Heartland National Bank will participate in the second round of funding.  Program highlights are as follows:


PPP First Draw Loans

First Draw PPP Loans are available to eligible borrowers that have 500 or fewer employees.  The program allows for a loan of up to 2.5x your average monthly payroll costs in 2019 or 2020.  Borrowers will qualify for full loan forgiveness if during the 8 or 24 week covered period following loan disbursement:

  • Employee and compensation levels are maintained;
  • The loan proceeds are spent on payroll costs and other eligible expenses; and
  • At least 60 percent of the proceeds are spent on payroll costs.
As of March 3, 2021, the SBA has modified the PPP Application to allow Schedule C filers to calculate loan amounts using gross income.  If you are a Schedule C filer, please use the appropriate application below.

Click either button below to fill out the appropriate application.  Additional information can be found at www.treasury.gov.


PPP First Draw Application PPP First Draw Schedule C Application


PPP Second Draw Loans

Second Draw PPP Loans are available to eligible borrowers who:

  • Previously received a First Draw PPP Loan;
  • Have used the full First Draw amount for authorized uses;
  • Have no more than 300 employees; and
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020 or year over year comparison of 2019 and 2020.

Borrowers will qualify for full loan forgiveness if during the 8 or 24 week covered period following loan disbursement:

  • Employee and compensation levels are maintained;
  • The loan proceeds are spent on payroll costs and other eligible expenses; and
  • At least 60 percent of the proceeds are spent on payroll costs.

The maximum loan amount of Second Draw PPP Loans is 2.5x the average monthly 2019 or 2020 payroll costs up to $2 million.  For borrowers in the Accommodation and Food Services sector (NAICS Code begins with 72), the maximum amount for a Second Draw PPP Loan is 3.5x the average monthly 2019 or 2020 payroll costs.

As of March 3, 2021, the SBA has modified the Second Draw PPP Application to allow Schedule C filers to calculate loan amounts using gross income.  If you are a Schedule C filer, please use the appropriate application below.

Click either button below to fill out the appropriate application.  Additional information can be found at www.treasury.gov.



Please know that Heartland National Bank is committed to helping our customers during the midst of this crisis.  We will process these applications as quickly and efficiently as possible.