Click Here for PPP Application Instructions


PPP January 14, 2021 update:

As you may know, a new coronavirus relief act was signed into law on December 27. This new act includes additional PPP funding to help small businesses.

The SBA published that they were beginning to accept PPP applications on Monday January 11. We want to message caution and patience with this statement since the SBA will not allow us to submit applications until Tuesday, January 19th. Orange Bank & Trust (and I assume the vast majority of lenders) are not prepared to accept applications today, however, we plan to be ready on or before the 19th. Unfortunately, the release of information to lenders and technology partners did not occur until this past weekend. In addition, the origination platform that SBA is utilizing this time around is different than the system used for the first round.

For these reasons, Orange Bank & Trust, along with our technology vendors, are still working on getting our application portals programmed to deliver the same level of simplicity as with the first round. We will be in contact with specific links and instructions for applicants to apply as soon as we are ready to launch.

For your reference, here is the most recent press release from the SBA on the opening of the program as well as the updated SBA application forms (First Draw 2483 & Second Draw 2483-SD). Please remember that Orange Bank & Trust applicants do not need to fill out the application form on their own as our application portal will guide you through this process completely online.

We update this page with additional information as it becomes available.

PPP updates include:

  • PPP borrowers can set their PPP loan covered period to be any length between 8 and 24 weeks to best meet their business needs;
  • PPP loans will cover additional expenses, including operations expenditures, property damage costs, supplier costs, and worker protection expenditures;
  • The Program’s eligibility is expanded to include 501(c)(6)s, housing cooperatives, direct marketing organizations, among other types of organizations;
  • This round of PPP provides greater flexibility for seasonal employees;
  • Certain existing PPP borrowers can request to modify their First Draw PPP Loan amount; and
  • Certain existing PPP borrowers are now eligible to apply for a Second Draw PPP Loan.

A borrower is generally eligible for a Second Draw PPP Loan if the borrower:

  • Previously received a First Draw PPP Loan and will or has used the full amount exclusively 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.

    Frequently asked questions:

    When can I apply for a Second Draw PPP loan?Our PPP loan application has not yet reopened. We are working to ensure the application portal provides the best user experience and streamlined process. Our application portal should be ready later this week. Please check our website or sign up for email updates.


    My business never received a PPP loan during the first program. Am I eligible for assistance?

    Yes! The program is available to both first time applicants as well as those applying for a Second Draw PPP Loan. Your business will still be eligible for assistance under the original rules.


    When will the funds run dry?

    We are unable to predict how quickly the funds may be exhausted. However we do expect demand to be high. We know that, per the law, the PPP program will end on March 31, 2021 and all loan applications must be approved by the SBA on this date, if funds remain.


    Clarification of PPP tax treatment:

    The law includes clarification regarding taxes and eligible expenses and forgiveness. We recommend that you contact your tax adviser or accountant for more details.


    Update to Economic Injury Disaster Loan (EIDL) Advance:

    The law provides that EIDL loan advances will no longer be deducted from PPP loan forgiveness. If you have already completed forgiveness of your PPP loan, the law states you must be retroactively made whole.


    What additional documentation will be needed to demonstrate a 25% decline in revenues?

    You will be required to supply documents that prove that your business experienced a revenue reduction of 25% or greater in 2020 relative to 2019. These documents may include relevant tax forms, including annual tax forms or quarterly financial statements or bank statements. It is your responsibility to provide clear documentation and support of the 25% or greater decline in revenues.


Click Here for Our July 2020 2nd PPP Forgiveness Webinar

The SBA recently released its Final Interim Guidelines and the updated Form 3508 and 3508 Instructions along with the 3508EZ Form and the 3508EZ Instructions which will be used by borrowers to calculate and document their requested loan forgiveness. We encourage you to review these instructions and the specific guidelines outlined by the SBA.

Orange Bank & Trust is available to assist with the rules and processing of your forgiveness application, but we are unable to provide business advice on loan forgiveness. We recommend that you speak with your accountant, business advisor, or seek assistance from a local Small Business Development Center.

Additional Information Can be found here:

Visit and for information on loan forgiveness.

It is your obligation, as the borrower, to understand the SBA’s rules. 

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