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It explains eligibility requirements, including prior First Draw participation, headcount limits, and a documented 25% reduction in gross receipts in 2019 vs. 2020. The checklist outlines required borrower forms, payroll calculation detail, and financial or payroll documentation for eligible businesses, non-profits, and self-employed individuals. 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Additional payroll documentation applies depending on loan amount and whether the borrower revises the payroll period or calculation.",{"name":116,"@type":107,"acceptedAnswer":117},"What financial and payroll documentation is required for eligible businesses and non-profits?",{"text":118,"@type":110},"Financial documentation must substantiate a 25% or greater quarterly revenue reduction in 2020 relative to 2019, such as tax returns, quarterly financial statements, or bank statements. Payroll documentation may include IRS forms (940/943 or 941s), employee payroll information from approved sources, and verification of other eligible payroll costs not otherwise included.",{"name":120,"@type":107,"acceptedAnswer":121},"How do applicants submit their Second Draw PPP borrower application and what is the deadline?",{"text":122,"@type":110},"Applications can be emailed or provided to a business banker. The last day to apply is March 31, 2021.","https://schema.org",{"og:url":78,"og:type":125,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":127,"canonical":78},"index,follow",{"doc_id":129,"site_id":56},306504,1790449212,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":88,"user_avatar":134,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":73,"language":140,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":61,"update_tm":144,"read_time":9},1236954509970,"https://us-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","Second Draw Paycheck Protection Program Application Guidance  \nMarch 2021  \nReference Documents for Completing PPP Borrower Application Form  \n4PPP Second Draw Loans (one-page overview)– CLICK HERE  \n4PPP Second Draw SBA Guidance – CLICK HERE  \n4PPP Schedule C Filer SBA Guidance – CLICK HERE  \nSecond Draw PPP Loan Eligibility  \nAn applicant is generally eligible for a Second Draw PPP Loan if the borrower:  \n• Previously received a First Draw PPP Loan and will or has used the full amount only for authorized uses,  \n• Has no more than 300 employees; and  \n• Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.  \nSee Second Draw SBA Guidance referenced above for complete program rules and eligibility.  \nPPP Second Draw Application Checklist  \nFor prompt application processing, please submit the following items.  \n1. PPP Second Draw Borrower Application Form  \n4Second Draw Borrower Application Form, or – CLICK HERE  \n4Second Draw Borrower Application Form for Schedule C Filers Using Gross Income–CLICK HERE  \n2. Average Monthly Payroll calculation detail  \n3. Required financial documentation for lender verification purposes  \n4For loans less than $150,000, applicants are not required to submit supporting financial information at time of application although the financial documentation referenced below will be required prior to applying for loan forgiveness or upon SBA request. First PREMIER Bank strongly encourages you to read all program requirements, complete applicable calculations and understand your responsibilities as outlined within the Second Draw Borrower Application Form and Second Draw SBA Guidance prior to submitting your application.  \n4For loans greater than $150,000, see required documentation outlined below.  \nEligible Businesses and Non-Profits  \n4Financial Documentation: Financial reporting substantiating a 25% or greater quarterly revenue reduction in 2020 relative to 2019, which may include one or more of the following:  \n— 2019 and 2020 (if filed) Tax Return, or  \n— Quarterly Financial Statements, or  \n— Bank Statements 4Payroll Documentation:  \n— If you received your First Draw PPP Loan through First PREMIER Bank and prefer to use the same payroll period and calculation, no further payroll information is required.  \n— If you received your first PPP loan through First PREMIER Bank and prefer to use a  \n Second Draw Paycheck Protection Program Application Guidance First PREMIER Bank | 3.3.2021 1  \ndifferent payroll period and/or revise your average monthly payroll calculation, please submit the following with your application:  \n• 2019 or 2020 IRS Form(s) 940, 943 (farmers and ranchers) or quarterly 941s  \n• Individual employee payroll information for 2019, 2020 or precise 1-year period before the date on which the loan is made, from one of the following sources:  \n-Payroll reports from your payroll provider, or  \n-Payroll reports from your internal accounting software, or  \n-IRS Form W-3 and Individual Form W-2s for each employee  \n• Verification of any other eligible payroll costs not otherwise included above.  \nEligible Individuals who are Self-Employed, Independent Contractors or Operate as Sole   \nProprietors  \n4Financial documentation substantiating a 25% or greater quarterly revenue reduction in 2020 relative to 2019, which may include one or more of the following:  \n— 2019 and 2020 (if filed) Tax Return, or  \n— Quarterly Financial Statements, or  \n— Bank Statements, or  \n— 2019 and 2020 Form 1040 Schedule C or F and,  \n• 2019 and 2020 1099-MISC Form(s) or,  \n• Verification of self-employment income and expenses  \nFirst PREMIER Bank is accepting Second Draw PPP Borrower applications from its existing customers and applicants within our market area including: Eastern South Dakota, Southwestern Minnesota and Northwestern Iowa.  \nTo submit your application, please email to [cares@firstpremier.com](cares@firstpremier.com) or provide to your business banker. F","cbCaifbfxEyHz6Kv","https://ap.wps.com/l/cbCaifbfxEyHz6Kv","pdf",184620,"English","# Second Draw PPP Eligibility\n# PPP Second Draw Application Checklist\n## Required Documents and Calculations\n# Eligible Businesses and Non-Profits\n# Eligible Self-Employed Individuals and Contractors\n# How to Submit the Application","[{\"question\":\"Who is generally eligible for a Second Draw PPP loan?\",\"answer\":\"An applicant is generally eligible if it previously received a First Draw PPP loan and used the full amount for authorized uses, has no more than 300 employees, and can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.\"},{\"question\":\"What must borrowers submit as part of the PPP Second Draw application checklist?\",\"answer\":\"Borrowers should submit the PPP Second Draw borrower application form, average monthly payroll calculation detail, and required financial documentation for lender verification. Additional payroll documentation applies depending on loan amount and whether the borrower revises the payroll period or calculation.\"},{\"question\":\"What financial and payroll documentation is required for eligible businesses and non-profits?\",\"answer\":\"Financial documentation must substantiate a 25% or greater quarterly revenue reduction in 2020 relative to 2019, such as tax returns, quarterly financial statements, or bank statements. Payroll documentation may include IRS forms (940/943 or 941s), employee payroll information from approved sources, and verification of other eligible payroll costs not otherwise included.\"},{\"question\":\"How do applicants submit their Second Draw PPP borrower application and what is the deadline?\",\"answer\":\"Applications can be emailed or provided to a business banker. The last day to apply is March 31, 2021.\"}]","Second Draw Paycheck Protection Program Application Guidance - March 2021 | PDF",1789837232]