PPP 2nd Round

1ST TIME PPP BORROWERS

(YOU HAVE NOT PREVIOUSLY RECEIVED A PPP LOAN)

Borrowers who qualify can apply for a First Draw PPP loan Union Bank by following the instructions below. Maximum Loan Amount: Lesser of $10MM or 2.5x monthly payroll How To Calculate Maximum Loan Amounts Eligibility Calculation Period: Can use 2020 or 2019 payroll; borrowers who are not self-employed (sole proprietors and independent contractors) can also use the 12-month period before the date on which the application is submitted. Seasonal employers: Determine maximum loan amount by using the employer’s average monthly payroll for any 12-week period selected by the seasonal employer beginning February 15, 2019 and ending February 15, 2020. New businesses: Determine maximum loan amount by using the employer’s average monthly payroll using the time period from January 1, 2020 to February 29, 2020.
Step 1	Complete the PPP First Draw Borrower Application Form. (Instructions can be found on pages 3-4 of the form.)	Form 2483
Step 2	Submit your application and required documentation to your Union Bank Loan Officer. A summary of required documents can be found using the following link: Required Documents for First Draw Loans
Step 3	Once we verify your application is complete, we will submit your request to the SBA. Once they have approved the application and issued an SBA Loan Number, we will notify you.
Step 4	We will disburse funds to your Union Bank checking account within 10 business days of the SBA approving your application and issuing an SBA Loan Number.

2ND DRAW PPP LOANS

(YOU PREVIOUSLY RECEIVED A PPP LOAN)

Borrowers who qualify can apply for a 2nd Draw PPP loan Union Bank by following the instructions below. Maximum Loan Amount: Lesser of $2MM or 2.5x monthly payroll (3.5x for NAICS code 72 businesses) How to Calculate Revenue Reduction and Maximum Loan Amounts Eligibility Calculation Period: Can use 2020 or 2019 payroll; borrowers who are not self-employed (sole proprietors and independent contractors) can also use the 12-month period before the date on which the application is submitted. Seasonal employers: Determine maximum loan amount by using the employer’s average monthly payroll for any 12-week period selected by the seasonal employer beginning February 15, 2019 and ending February 15, 2020. New businesses: Determine maximum loan amount by using the employer’s average monthly payroll using the time period from January 1, 2020 to February 29, 2020.
Step 1	Complete the PPP 2nd Draw Borrower Application Form. (Instructions can be found on pages 4-5 of the form.)	Form 2483-SD
Step 2	Submit your application and required documentation to your Union Bank Loan Officer. A summary of required documents can be found using the following link: Required Documents for Second Draw Loans
Step 3	Once we verify your application is complete, we will submit your request to the SBA. Once they have approved the application and issued an SBA Loan Number, we will notify you.
Step 4	We will disburse funds to your Union Bank checking account within 10 business days of the SBA approving your application and issuing an SBA Loan Number.

PPP LOAN RESOURCES

SBA PAYCHECK PROTECTION PROGRAM (PPP) GENERAL INFO PPP 1ST DRAW LOAN RESOURCES PPP 2ND DRAW LOAN RESOURCES