The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act provides almost an additional $285 billion for a second round of PPP lending to small businesses impacted by COVID-19.

PPP Round 2 Update for Previous PPP Recipients

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. 
Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations. 

Full Forgiveness Terms 

Second Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8 to 24-week covered period following loan disbursement: 
  • Employee and compensation levels are maintained in the same manner as required for the First Draw PPP loan; 
  • 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. 

Targeted Eligibility 

A borrower is generally eligible for a Second Draw PPP Loan if the borrower: 
  • Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses; 
  • Has no more than 300 employees; and 
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

Maximum Loan Amount and Increased Assistance for Accommodation and Food Services Businesses 

For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector, the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.  
If you were a Marine Bank & Trust PPP Round 1 recipient and did not receive our email blast with the PPP Round 2 Application Package and would like to participate in Round 2, please email and request that it be sent to you.  
If you have questions, please contact our PPP Help Desk at (772)-231-8237 or