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Paycheck Protection Program

Second-Draw PPP Loans

Second Round of Paycheck Protection Program Funding

During the second round of PPP loans, repeat PPP borrowers may apply for a second loan if they meet program guidelines. First Draw PPP borrowers may also apply for funds, under a separate set of guidelines.
First Draw PPP Loan Information

 

Applying for Second-Draw PPP Loans

Borrowers can apply for Round 2 funding until May 31, 2021. To apply for a loan, contact your local BankWest business or ag banker by calling 1-800-253-0362. A complete list of BankWest locations and contact information may be found by visiting our Locations & ATMs page.

 

Primary Guidelines for Second-Draw PPP Loans

  • Must have received a First Draw PPP loan in accordance with the eligibility criteria.
  • Must have used, or will use, the full amount of its First Draw PPP Loan (including the amount of any increase on the First Draw PPP Loan) on authorized uses on or before the expected date on which the Second Draw PPP Loan will be disbursed.
  • Must have fewer than 300 employees (there are certain exceptions to this guideline).
  • Experienced a reduction of 25% or more in gross receipts in any quarter of 2020 when compared with the same quarter of 2019. For businesses that do not have quarterly financials, an option of year over year (2019 vs. 2020) is allowed.

 

Additional information regarding the Paycheck Protection Program can be found at:

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