SBA Releases Updated Paycheck Protection Program Application Forms (1/8/2021)

The Paycheck Protection Program (PPP) now allows certain eligible borrowers that previously received a PPP loan to apply for a Second Draw PPP Loan with the same general loan terms as their First Draw PPP Loan. Second Draw PPP Loans can be used to help fund payroll costs, including benefits. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

SBA has released two new application forms.  The first form, SBA Form 2483 (First Draw Application) is for business owners that have never received an SBA PPP loan and now wish to apply for financial assistance. The second form, SBA Form 2483-SD (Second Draw Application), is for business owners that have already received and used their first PPP loan and now wish to apply for a second loan.

The First Draw Application (SBA Form 2483) can be found here: SBA Form 2483

The Second Draw Application (SBA Form 2483-SD) can be found here: SBA Form 2483-SD

Northern California National Bank will now begin accepting these applications and will submit them to the SBA as soon as they start allowing submission of the applications.  If you have any questions, please do not hesitate to reach out to Northern California National Bank.

For additional information on the SBA Paycheck Protection Program, please visit the SBA's website at or the U.S. Treasury Department's website at

SBA Releases PPP Loan Data

Following a lawsuit from media organizations, the Small Business Administration (SBA) was court ordered to release data about Paycheck Protection Program (PPP) borrowers. This data is being used to by third-party business to market themselves to PPP customers. For further information about what this means as a PPP customer with Northern California National Bank please click the link below to see a communication directly from CEO Todd Lewis.

Announcement Letter


SBA PPP Forgiveness Application Process

It is time to start considering the steps that must be taken to qualify for loan forgiveness under the SBA Paycheck Protection Program (PPP). Please take a few minutes to become familiar with the recent changes in PPP forgiveness guidelines and the application forms which are now available below. Please click the link below which will take you to the announcement letter where you will find valuable information regarding the PPP loan forgiveness requirements.

Announcement Letter

We hope you will find this information helpful as you navigate through the PPP loan forgiveness application process.  


SBA Streamlines PPP Forgiveness Application for Many Borrowers

The Small Business Administration has released a three-page "EZ" Paycheck Protection Program loan forgiveness application that requires less documentation and fewer calculations than previously required. The Form 3508EZ applies to borrowers who meet any of these the following criteria:
  • Applied for the PPP loan as self-employed, an independent contractor or a sole proprietor with no employees
  • Did not reduce salary or wages for any employee by more than 25%, and did not reduce the number or hours of their employees (excepting laid-off employees who refused an offer to return).
  • Did not reduce salary or wages for any employee by more than 25% during the covered period and experienced reductions in business activity as a result of health directives related to COVID-19.

The streamlined forgiveness form is expected to smooth the forgiveness application process for a substantial portion of PPP borrowers. SBA also updated the regular Form 3508 to reflect recent changes made by Congress in the PPP Flexibility Act and issued a new interim final rule that implements changes made by the PPPFA.

Below are links to PDF copies of the 3508EZ, 3508 and the associated instructions

Form 3508EZ

Form 3508EZ Instructions

Form 3508

Form 3508 Instructions

Form 3508S

Form 3508S Forgiveness Instructions


PPP Loan Forgiveness and CARES Act Tax Aspects Webinar Recording

If you missed the webinar earlier this month presented by Moss Adams in conjunction with Northern California National Bank related to Payroll Protection Program (PPP) Loan Forgiveness and CARES Act Tax Aspects, please click on the link below to view a recording of the webinar.


Webinar Recording