New 2021 PPP Applicant
If you have NOT previously applied for a PPP loan OR if you received a round 1 PPP loan with Premier Community Bank directly, please click below to begin your 2021 application process.
Kabbage 2020 PPP Applications
If in 2020 you used Kabbage to apply for your PPP loan, please click below to begin your 2021 application process.
**Google Chrome is the preferred browser to access these portals.
REMINDER: Traditional email is not a secure method to share personal and business financial information. Only use secure methods to share documents.
Information last updated as of January 19, 2021.
Expansion of Eligible Entities- First and Second Draw Loans
The new law expands the businesses eligible for a PPP loan to include (must be in operation on February 15, 2020 and cannot be permanently closed today):
- Certain 501(c)(6) organizations (excluding those that engage in political or lobbying activities and professional sports leagues);
- Destination marketing organizations;
- Housing cooperatives;
- Newspapers, broadcasters, and radio stations
It is important to note that if a borrower received a PPP loan in 2020, then the borrower is considered to have received a First Draw PPP Loan and is not eligible to receive another First Draw Loan; however, the borrower may be eligible for a Second Draw Loan.
Eligible Entities – Second Draw Loans
- Any business concern, nonprofit organization, housing cooperative, veterans organization, Tribal business concern, eligible self-employed individual, sole proprietor, independent contractor, or small agricultural cooperative that:
- Employs no more than 300 employees; and
- Sustained at least a 25% drop in gross receipts in any quarter of 2020 compared to that same quarter in 2019
- If the entity was not in business for some or all of 2019, there are different quarter comparative rules that apply
- Borrowers must submit documentation to substantiate the 25% revenue loss. Best practice is for lenders to require that documentation at time of loan origination; however, must be provided before submission of a forgiveness application.
Maximum Loan Amount
- For First Draw loans, the maximum loan amount formula is the same as what it previously was except for farmers who are sole-proprietors, independent contractors or otherwise self-employed individuals.
- For Second Draw loans, in general the maximum loan amount is 2.5 times the average total monthly payment for payroll costs incurred by the eligible entity during the one-year period before the date on which the loan is made, or $2 million. For NAICS 72* entities, the maximum loan amount is 3.5 times the average total monthly payment for payroll costs, or $2 million.
|721110||Hotels (except Casino Hotels) and Motels|
|721199||All Other Traveler Accommodation|
|721211||RV (Recreational Vehicle) Parks and Campgrounds|
|721214||Recreational and Vacation Camps (except Campgrounds)|
|721310||Rooming and Boarding Houses, Dormitories, and Workers' Camps|
|722310||Food Service Contractors|
|722330||Mobile Food Services|
|722410||Drinking Places (Alcoholic Beverages)|
|722514||Cafeterias, Grill Buffets, and Buffets|
|722515||Snack and Nonalcoholic Beverage Bars|