Connect Bank will process
Second Draw PPP loans
for its customers.
In order to qualify for a Round 2 loan, you must demonstrate that your gross revenues in
any quarter in 2020 were at least 25% less than revenues in the same quarter in 2019. If
you already had a Round 1 PPP loan with us, we have most of the information on file that
we will need. The additional information we will need from you includes:
Proof of Payroll – Payroll Breakdown by employee or IRS 941’s for 2020
SBA Form 2483-SD – this PPP application is not yet available from the SBA
Profit and loss statement for your chosen quarter in 2019 and 2020 to demonstrate
you had a 25% revenue reduction.
We encourage you to review the SBA’s guidance issued for PPP at the following link:
Borrowers are solely responsible for assessing their eligibility for PPP financing and their
use of PPP funds and should not rely on Connect Bank and its own interpretation of the