PPP Policy Updates

Apr 1, 2021


At this time we are no longer accepting SBA PPP Loan Applications. However, please check back as changes or updates can occur without notice. (4/1/2021)

The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make First Draw PPP Loans on Monday, January 11, and Second Draw PPP Loans on Wednesday, January 13.  The PPP will open to all participating lenders shortly thereafter. Updated PPP guidance outlining Program changes to enhance its effectiveness and accessibility was released on January 6 in accordance with the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act.

Key PPP updates include:
  • PPP borrowers can set their PPP loan’s covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
  • The PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.
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.
The new guidance released includes:

Guidance & Resources

Important Information

There will be a time lapse between the time a Lender submits a PPP application to SBA and the time
SBA provides an SBA loan number back to the Lender due to additional front-end compliance checks.

For 2nd Draw PPP Loans:

Loans under $150,000 – Gross Receipts Reduction in excess of 25%
SBA does not require documentation to evidence the reduction at time of application but does require it prior to seeking loan forgiveness. However, we (NavyArmy) will require documentation to support the 25% reduction in gross receipts at the time of application to ensure the applicant qualifies.

*Loan Amount for Draw 2 Loans –You may use 2019 or 2020 payroll figures to determine your loan amount.

For more information on updates, visit sba.gov/ppp or treasury.gov/cares.

For more information about NavyArmy's Covid-19 Response, click here.

Frequently Asked Questions:


The portal will provide a significant amount of information regarding eligibility and other questions you may have.

Applications are no longer being accepted as of 4/1/2021.

Approval is based on receipt of an SBA loan number. You are not approved until we receive such
number. We will contact you upon receipt of an SBA loan number.

Applications are no longer being accepted as of 4/1/2021.

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