Paycheck Protection Program Loans

Paycheck Protection Program Loans


Paycheck Protection Program Second Draw Loans

As part of the newest stimulus package, additional funding will be made available for the Paycheck Protection Program (PPP). Businesses that meet certain eligibility requirements may apply for a PPP Loan under the "PPP Second Draw" program. Businesses who did not receive an initial PPP Loan are also able to apply if eligibility requirements are met.

Final guidance from the SBA is pending and an application has not yet been made available. We are monitoring for program details and will make information available to our customers as it is released, including;

  • Eligibility requirements
  • Approved uses of funds
  • Links to resources about the program
  • Loan Application
  • How to Apply
In the meantime, please be aware of the following basic eligibility requirements for the PPP Second Draw loan program;
  • Have used or will have used the full amount of your first PPP Loan before applying for a second draw loan
  • Have no more than 300 employees
  • Demonstrated a reduction in gross receipts of at least 25 percent in any quarter in 2020 relative to the same quarter of 2019
F&M Trust will begin accepting applications once final guidance and an application has been released by the SBA. please check back frequently for more information and updates.

Additional information and resources available at sba.gov and treasury.gov

NOTICE: YOU ARE LEAVING F&M TRUST!

You are now leaving the F&M Trust website. Links to third-party sites are provided for your convenience. Such sites are not within our control and may not follow the same privacy, security or accessibility standards as ours. F&M Trust neither endorses nor guarantees offerings of the third-party providers, nor is F&M Trust responsible for the security, content or availability of third-party sites, their partners or advertisers.