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Paycheck Protection Program

Paycheck Protection Program for Small Businesses, Farmers, and Ranchers

You might be eligible for a forgivable Paycheck Protection Program Loan. 
This program is for customers and non-customers.

Congress has passed an Economic Aid Act that authorized SBA to do a Second Draw of PPP loans.  It also reopens round one of PPP to accommodate those who did not qualify at the time but now qualify for increased amounts due to changes in the rules. You will have to show a loss of income in 2020 to qualify for the PPP Second Draw (PPPSD). 

PPP First Draw Reboot

Those qualifying for new loans or increased amounts on PPP First Draw (PPPFD) reboot will be limited.  The short list is Schedule F filers, some partnerships filing Form 1065 that have self-employed earnings, and people that did have their tax documents ready when the program shut down.

Schedule F (farm) filers can now use gross income instead of net income to determine their loan amount for PPP First Draw loans.  If you filed for a PPP loan on a Schedule C but not on a Schedule F because you did not show a profit, you can file for an increase.

PPP Second Draw

In order to qualify for the second draw, you have to have received a PPP First Draw. 

First borrowers must qualify for PPP Second Draw by demonstrating that they have experienced a 25% reduction in gross income (gross receipts).  This can be done several different ways.

  • Compare gross income for any quarter in 2020 to the corresponding quarter in 2019. If income has dropped by 25%, you qualify. Example, 2nd quarter 2019 to 2nd quarter 2020.
    • You must document this with financial reports or bank statements.

  • Compare gross income for the entire year 2019 to 2020.  If income has dropped by 25% you qualify.
    • You must document this with annual tax statements such as Form 1120s or Schedule C or F of Form 1040 for years 2019 and 2020.

  • If you were not in business for the full calendar year of 2019, then you can compare any quarter that you were in business in 2019 to any quarter in 2020. If income has dropped by 25% you qualify.
    • You must document this with financial reports or bank statements.

  • If you started your business after January 1st, 2020, you compare the first quarter of 2020 to any subsequent quarter of 2020. If income has dropped by 25% you qualify.
    • You must document this with financial reports or bank statements.

If you qualify, you must be prepared to provide documentation such as financial statements/profit and loss statements, bank statements or tax forms for whichever of the above methods were used along with your calculations. 


Loans for $150,000 and over, documentation must be provided with your PPP application (form 2483-SD).  Loans for under $150,000, documentation must be provided prior to forgiveness or upon request from SBA.  If you are unable to verify the 25% loss of revenue, you will not receive forgiveness of your PPP Second Draw loan.

Once you qualify, you will need to calculate your loan amount.  You can use your 2019 payroll amounts, which we already have or if you paid more in payroll in 2020 you can use that amount.

Payroll is:

  • Wages paid on a W-2 and reported on a 941 or W-2/W-3.  If you supplied these for PPPFD you do not have to provide them again.  If you want to use 2020 payroll numbers you will need to provide the required forms.

  • Net profit reported on Schedule C of your 1040 plus any wages (W-2) you paid employees.

  • Gross Receipts from Schedule F

Links to both applications are below. Be sure to use the correct application and read the directions carefully.  You cannot apply for a PPPSD if you did not receive a PPPFD. You can email completed applications back to 

  First Draw Application   


Second Draw Application

To apply for a Paycheck Protection Program Loan, call your nearest loan officer to get started.

Poteau Main Bank: 918-647-2233

Heavener Branch: 918-653-3088

Pocola Branch: 918-436-2471

Stigler Branch: 918-967-0700

Panama Branch: 918-963-4625

You can also submit a request through our Contact Us portal below if after hours or during the weekend.

Contact Us

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