2021 PPP Round Two Update



California Bank of Commerce was pleased to support our clients during round one of the Paycheck Protection Program (PPP), providing approximately 750 loans and over $360,000,000 in requested relief financing. With the recent passage of the Economic Aid Act providing for an additional allocation of funding to the Small Business Administration (SBA), we are committed to providing continued assistance to eligible clients in obtaining first-time and second-draw PPP loans.

We encourage our clients to visit the SBA or U.S. Treasury websites for the most current information and program details, and to review the PPP loan criteria with their accountants or other trusted financial advisors.

We will begin accepting first-draw and second-draw applications from our clients as of Tuesday, January 19.   As the PPP Round Two process moves forward, we will continue to follow for additional guidance from the SBA, and will update this page as new information becomes available.

 A few highlights of the current programs* are listed below, as well as links to the required application documentation:

  • First time borrowers:
    • Business must be have been in operation as of February 15, 2020
    • In general, borrowers may have no more than 500 employees
    • Eligible loan amount can be up to 2.5 times the business’ average monthly payroll costs
    • Maximum loan amount of $10,000,000
    • To ensure a complete application, borrowers should utilize the documents in each of the below links:
      • 1st Draw Loan Checklist here
      • 1st Draw SBA Application here
      • 1stst Draw Loan Calculator Worksheet here
  • Second draw borrowers:
    • In order to be eligible, businesses must have used, or will use, first draw PPP loan proceeds prior to receiving funding for a second PPP loan
    • Will need to demonstrate a 25% reduction in gross receipts (to be defined by the SBA) in any quarter in 2020 relative to the same quarter 2019:
      • Businesses can utilize annual tax returns for 2019 and 2020 to substantiate the difference, or;
      • Businesses can compare any quarter in 2019 with the corresponding quarter in 2020, substantiated by quarterly financial statements
    • In general, borrowers may have no more than 300 employees
    • Maximum loan amount of $2,000,000
    • To ensure a complete applications, borrowers should utilize the documents in each of the below links:
      • 2nd Draw Loan Checklist here
      • 2nd Draw SBA Application here
      • 2nd Draw Loan Calculator Worksheet here


Once your application package is complete and all documentation is ready to be submitted, please contact your Relationship Manager or Banking Services Officer for next steps. In addition, you can direct your application and documentation to your Relationship Manager utilizing the following link:



*Additional terms and conditions may apply.  Please refer to linked websites above for more detailed information.





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