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You are eligible for a Second Draw PPP loan if:

  1. You meet the eligibility requirements of the First Draw PPP Program
  2. You have 300 or fewer employees
  3. Experienced a revenue reduction of 25% or more in any quarter of 2020 compared to the same quarter of 2019.
  4. You must have spent the full amount of your First Draw PPP loan on eligible expenses under the PPP rules.

How to Apply

Please download and complete the PPP Application Form. Then, please upload with the required supporting documents that are listed below.

Our priority will be to serve our existing customers. If you are not a current customer of First State Bank, we may not accept your applicationCompleted applications will be processed in the order received.

Step One

Complete Application

Step Two

Submit Application

  • Drop files here or
    Accepted file types: jpg, gif, png, pdf, jpeg, doc, docx, xls, xlsx.
    If you experience any errors, please breakup the numbers of files being uploaded.

Required Supporting Documents:

  1. For businesses with Employees
    • Payroll Documentation: Form 941 and state quarterly wage unemployment insurance tax reporting forms from each quarter in 2019 or 2020 (whichever you used to calculate the loan amount), or equivalent payroll processor records
    • Retirement and health insurance contributions paid by the employer
    • Sole Proprietors must also provide a copy of their 2019 or 2020 Form 1040 Schedule C
    • Farmers and Ranchers must also provide a copy of their 2019 or 2020 Form 1040 Schedule F
  2. For Sole Proprietors without employees
    • Sole Proprietors must provide a copy of their 2019 or 2020 Form 1040 Schedule C
    • Farmers and Ranchers must provide a copy of their 2019 or 2020 Form 1040 Schedule F
    • For loans $150,000 or greater, you must provide evidence of a 25% reduction in Gross Receipts for any quarter of 2020 compared to the same quarter in 2019. If you loan is under $150,000, you do not need to provide this until you apply for loan forgiveness.

Loan amount

The Loan Amount will be based upon 2.5 months of your average monthly payroll for 2019 OR the preceding 12-months. The maximum loan amount is $2 million or $4 million per affiliated group.

Payroll costs consist of compensation to employees (whose principal place of residence is the United States) in the form of salary, wages, commissions, or similar compensation; cash tips or the equivalent (based on employer records of past tips or, in the absence of such records, a reasonable, good-faith employer estimate of such tips); payment for vacation, parental, family, medical, or sick leave; allowance for separation or dismissal; payment for the provision of employee benefits consisting of group health care or group life, disability, vision, or dental insurance, including insurance premiums, and retirement; payment of state and local taxes assessed on compensation of employees; and for an independent contractor or sole proprietor, wages, commissions, income, or net earnings from self-employment, or similar compensation.

Annual wages and salaries are capped at $100,000 per employee. (Also capped at $100,000 annually for Sole Proprietors and Farmers.)

*If your business has an industry code (NAICS) on your most recent tax return beginning with 72, you may qualify for a loan amount up to 3.5x your average monthly payroll.

Subject to credit approval and program guidelines. SBA loans are subject to SBA eligibility guidelines. Certain restrictions apply to refinancing options and are subject to program terms. Refinances of existing SBA loans are excluded.

PPP Loan & COVID-19 Information

Check out our resources page for updates and helpful information.