PPP Funding

The Covid Relief Bill signed into law December 27, 2020 provides an additional $284.5 billion in funding for the Paycheck Protection Program (PPP). As a national top SBA lender, First Home Bank is here for what's next for your business. Click below to get started on securing your PPP funding today. 

You will need to create a new username and password to begin your application. One username can be used for several business PPP applications. 

Important First Draw PPP Information

  • Maximum loan amount is $10 million
  • Maximum amount of employees is 500
  • Your business must have been established as of February 15, 2020

Important Second Draw PPP Information

  • Maximum Loan of $2 million
    • Loan amount equals 2.5 times average monthly payroll
    • For Accommodation and Food Services businesses loans will be calculated based on 3.5x the average monthly payroll. 
  • Maximum number of employees is 300
  • Must use or commit to using all of the first PPP loan received
  • Demonstrate a 25% reduction in gross receipts in any quarter of 2020 compared to that same quarter in 2019

    All information is subject to final rules and regulations published by the SBA.