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.


 Effective March 5th, First Home Bank has partnered with ACAP/The Loan Source for all new applicants who have not previously received a login and password to First Home Bank’s PPP Portal.   This partnership will make your PPP 2.0 application process easier and allow us to help more small business owners.  Our partner ACAP/ The Loan Source will handle the entire process including application, communication, documentation, and loan funding. This should be a seamless process for you. 

Please click below to apply for a Round 2 PPP application.

 

Click below if you applied have already applied for a loan directly with First Home Bank before March 5th, have received a login and password to First Home Bank’s PPP Application Portal, and need to access your application.

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.