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Second Draw PPP Loan

With the approval and implementation of the most recent COVID relief legislation, Congress set aside $284 billion towards more forgivable small business loans under the Paycheck Protection Program. Under the new “Second Draw” PPP loan program, small businesses may be eligible for another PPP loan to support their payroll, rent payments, utilities, and other eligible expenses.

Under the “Second Draw” PPP loan program, businesses must meet the following requirements:

  • The maximum loan amount is $2 million.
  • Employ 300 or fewer employees.
  • Have spent the full amount of the first PPP loan proceeds on eligible expenses.
  • Demonstrate at least a 25% decline in revenues in any quarter of 2020 compared to the same quarter in 2019.
  • Loan amounts are calculated by taking 2.5 times your average monthly payroll. If your NAICS code begins with a 72 (Hospitality and Restaurants), you can take your average monthly payroll times 3.5.
  • The list of other eligible expenses has been expanded to include expenses relating to remote-work software, equipment, and costs associated with government mandated cleaning/sanitation, and social distancing.
  • At least 60% of the “Second Draw” PPP loan needs to be used for payroll. The remaining 40% can be used for other eligible expenses.
  • Proceeds must be used to support the eligible expenses of a business over an 8 or 24 week covered period.

Who is Eligible?

The “Second Draw” loan requirements are somewhat more restrictive than the first round of PPP loans. The following types of small businesses are eligible:

  • Small Businesses
  • Non-Profit Organizations
  • Veterans Organizations
  • Tribal Businesses
  • Eligible Self-Employed Individuals
  • Sole Proprietors
  • Independent Contractors

If you did not receive a “First Draw” PPP loan, your business may be eligible for a PPP loan under the original program with the similar eligibility requirements. The SBA has set aside some funding for first-time PPP borrowers.

The First Westroads Bank team is committed to working with you and your business on a “Second Draw” PPP Loan and meeting any of your business’s needs.

The application can be found below. If you have any questions, please reach out to your account representative or call 402-330-7200.

Round One PPP Loan Forgiveness

The SBA and the Department of Treasury released a revised, borrower friendly Paycheck Protection Program Loan Forgiveness Application a few weeks ago. In addition to the full forgiveness application, the SBA also released a new EZ version of the application that applies to borrowers that: 

• Are self-employed and have no employees;


• Did not reduce salaries or wages of their employees by more than 25%, and did not reduce the number of hours of their employees; OR

• Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce salaries or wages of their employees by more than 25%

The EZ application requires fewer calculations and less documentation for eligible borrowers as detailed in the instructions for the EZ Application.

Both the EZ Application and the Full Application give borrowers the option of using the original 8-week covered period (if the loan was made before June 5th, 2020) or an extended 24-week covered period. These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.

Although the forgiveness portion of the PPP program may change, we are not anticipating any meaningful changes prior to the election on November 3rd. With this said, we encourage you to start assembling your information to document to how your PPP loan proceeds were used and submit your PPP Forgiveness Application and purporting information to First Westroads Bank. Documentation will include payroll records, cancelled checks, and bank statements. With the changes to the PPP program, at least 60% of the loan proceeds have to be used for payroll. Up to 40% of the loan proceeds can be used for eligible non-payroll expenses including rent payments, utilities, and interest of business loans for mortgages or real property.

A copy of the loan forgiveness applications and instructions are available below.

*For use for loans $50,000 or less*

COVID-19 Assistance

We’re here to help!

So far, we’ve secured 255 loans and more than $41 million worth of financial aid for our small business customers through SBA loans. These loans have positively impacted more than 4,250 jobs in our community.

For more than 50 years, we've been supporting small businesses during prosperous times and hard times. We can help you learn about your options to aid your small business during the Coronavirus pandemic. Contact us to check on your loan eligibility today. 

We've created a webinar to help you better understand the Coronavirus Aid Package (CARES Act). In it, we discuss the most current information on eligibility, loans vs. direct relief for businesses and individuals, how to apply and how long it will take to receive the funds. You can watch the webinar here.


Coronavirus Funding Options

First Westroads Bank is here to help you during these difficult times. Below are links to information on the SBA Paycheck Protection Program and the existing loan programs offered by the SBA, including COVID-19 Economic Injury Disaster Loans.


Paycheck Protection Program

Business loans available to assist business with payroll.


Economic Injury Disaster Loans

The SBA is continuing to offer COVID-19 Economic Injury Disaster Loans, outside of the Paycheck Protection Program.


SBA Express Bridge Loans

Enables small businesses who currently have a business relationship with an SBA Express Lender to access up to $25,000 quickly.


Step one

Complete the Second Draw PPP Borrower Application. Please be sure to save a signed electronic copy as it will be needed in the submission process.


Step two

Connect with a member of our lending team to begin the submission process.


Second Draw PPP Loan


Economic Injury Disaster Loans

The SBA is continuing to offer COVID-19 Economic Injury Disaster Loans, outside of the Paycheck Protection Program. The SBA is taking direct applications through their website for these loans. Click on the arrow to the right for information on their program.


SBA Express Bridge Loans

This pilot program allows SBA Express Lenders authority to deliver expedited SBA-guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the small businesses apply for and await long-term financing.

Maximum loan amount


SBA guarantee %


Maximum maturity

7 years

Program expiration date

September 30, 2020


We're here to help!


Mark E. Ellerbeck


Chris J. Murphy

Chairman & CEO


Carl Bartholomew

Vice President


+1 (402) 676-9686

Tim Riha

Vice President


+1 (402) 669-7315

Brandon Urban

Vice President


+1 (402) 669-0921

Nick Wimmer

Junior Lender


+1 (402) 617-8762


Brent Frahm

VP, Residential Construction


+1 (402) 301-1559


James Llewellyn

Mortgage Lender


+1 (402) 651-2024


Aaron Gilson

Treasury Management


+1 (402) 689-1567


FAQ on Federal Coronavirus Relief Bill (CARES Act)

Congress’s latest coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, is the largest economic relief bill in U.S. history and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn. Many people have questions about how the new law impacts their families and businesses.

*Source: The Tax Foundation


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With you on this Journey!

April 1, 2020

As part of the CARES Act, the Small Business Administration and Treasury are providing banks with the operating procedures for our customers to apply for the Paycheck Protection Program loans....

March 28, 2020

As we continue to navigate through the COVID-19 crisis, our first priority remains the safety and well-being of our employees, customers, and community. I’m pleased to let you know that the policies and procedures we have in place for situations like this are working as planned....

March 17, 2020

We wanted to inform you of some important changes to how we will continue to meet your banking needs during this Coronavirus (COVID-19) outbreak. The health and safety of our employees, clients, and communities is the top priority at First Westroads Bank....

March 13, 2020

With the Corona Virus(COVID-19) now present in Nebraska, First Westroads Bank wants to assure you that we are committed to protect the health and well-being of all our clients, employees, and the communities in which we serve. We want to provide you with consistent and uninterrupted service....

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