Paycheck Protection Program (PPP) Round 2


Congress has approved funds for an additional round of PPP loans. This round of PPP authorizes up to $284 billion toward job retention and certain other expenses through March 31, 2021, and allows certain existing PPP borrowers to apply for a Second Draw PPP Loan.

Tri Counties Bank is currently accepting PPP applications through our online application system. We are unable to accept PPP applications in our branches or over the phone.

We are accepting applications from both current and new customers. You must have an active Tri Counties Bank business checking account prior to applying for a PPP loan. This allows us to transfer your PPP funds directly into your account. If you do not currently have a Tri Counties Bank business checking account, contact your local branch.

You will be required to submit supporting documentation with your PPP loan application. Learn more.

Please use the Chrome browser when accessing the online application.

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This is not a commitment to lend. All loans are subject to program requirements and availability of funds under the SBA PPP Program. Your PPP application is subject to Tri Counties Bank and SBA approval.


Frequently Asked Questions

  • If I received a First Draw PPP loan through another lender, can I apply for a Second Draw PPP loan through Tri Counties Bank?

  • Yes, even if you received your first PPP loan from another lender, you can apply for a Second Draw PPP loan through Tri Counties Bank.

  • If I received a First Draw PPP loan through Tri Counties Bank, will I automatically qualify for a Second Draw PPP loan?

  • No. There are specific requirements for a Second Draw PPP loan which borrowers will need to meet. Key requirements include, but may not be limited to:
  • You must have used, or have demonstrated that you will use, all of your First Draw PPP loan before the Second Draw PPP loan is funded

    • Loan funds must have been spent on eligible expenses

    • Full amount includes any increases made to the First Draw PPP Loan

  • U.S. companies with fewer than 300 employees

  • 2020 quarterly revenue reduction of at least 25% compared to same quarter in 2019 (annual decrease of 25% acceptable with tax form verification)

  • Maximum loan size of 2.5 times your average monthly payroll costs (3.5 times for NAICS Code 72 Food & Hospitality Businesses), but not more than $2 million

  • Borrowers must spend at least 60% of their PPP funds on eligible payroll costs during a time period of their choosing between 8 weeks and 24 weeks

  • How can Second Draw PPP funds be used?

  • Second Draw PPP funds are forgivable, provided they are spent on covered costs, including:
  • Payroll costs, including paid sick leave and group insurance benefits provided by the employer

  • Operating costs, including payments for mortgage, rent, utilities, software, and human resources and accounting needs

  • Property damage sustained during protests and disturbances in 2020, unless covered by insurance

  • Payments to a supplier covering contracts and purchase orders in effect before taking out the second-draw loan

  • Personal protective equipment and modification made to meet health and safety requirements

  • At least 60% of the total loan amount must be used on payroll expenses to qualify for full loan forgiveness