Paycheck Protection Program

We provide information on how to get disaster relief assistance through the Small Business Administration

RECENTLY UPDATED

SBA Paycheck Protection Program (PPP)

If you did not access the federal Paycheck Protection Program (PPP) funding during Round 1, you may be eligible to apply today!

If you received PPP funding during Round 1, you can apply for your 2nd PPP loan starting Wednesday, January 13.

Application submission have been extended until May 31st, 2021.

Thank you for your interest in the PPP Loan; due to the high demand, AmPac is not accepting new applications at this time.
Please see the downloadable PDFs of SBA lenders facilitating the Payroll Protection Program.

PPP Lenders Participating in Orange County and Inland Empire ⬇︎
PPP Lenders Participating by State ⬇︎

If you are interested in any of AmPac’s other loan programs, please see the loan options page.

Get Assistance

Inquire for assistance below by filling out our online form for assistance and one of our AmPac Business Capital Champions will get in touch with you!

Loan Applications and Helpful Spreadsheets

  • PPP Borrower Checklist

  • PPP Borrower Application - English

  • PPP Borrower Application - Spanish

  • PPP Loan Worksheet

    This file will need to be unzipped to access the Excel document. 

  • PPP Loan Calculator

    This file will need to be unzipped to access the Excel document. 

  • ETran Input Document

    This file will need to be unzipped to access the Excel document. 

Updated First Draw Forms

  • Form 2483 – First Draw Borrower Application

    This will redirect you to the SBA.gov website where you can download the form. 

Second Draw Forms

  • Form 2483-SD – Second Draw Borrower Application

    This will redirect you to the SBA.gov website where you can download the form. 

Here are some frequently asked quesions to help you get started!

  • This program is available for any federally legal businesses that was in operation prior to February 15, 2020
  • The small business must have less than 300 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
  • Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 300 workers. This means each store location could be eligible.

As long as you use 60% of the loan proceeds for payroll costs and the remaining 40% for other eligible business expenses, then the loan can be forgiven, with the submitted forgiveness application.

  • The business has to have suffered a loss in revenue of 25% or greater during any quarter of 2020, or year over year comparing 2020 and 2019; or comparing the same quarters in 2019 vs 2020.
  • The business has to have already used or will use all of the proceeds from your first PPP loan.

No; if you are a first draw client, we can process your application immediately. If you are a second draw client, we recommend working with your original lender; if you are not able or do not want to work with your original lender, then we will need your PPP loan number and the forgiveness confirmation from your original lender.

AmPac will process new PPP loans for businesses seeking a loan under $50,000.  For existing clients, AmPac will consider PPP loans up to $150,000.

No, there is no fee that you have to pay for the PPP loan.  The original CARES Act and the Economic Relief Aid Act both included funds to cover fees for processing the PPP loan so that the small business does not have to bear the cost.

It depends; the faster you submit the requested documents, the faster we can submit your application to SBA for approval. The process can be as short as 2 weeks.

Please refer to: PPP Borrower Checklist

Businesses are eligible for the lesser of 2.5x (3.5x for NAICS code 72 business, i.e., restaurants and hotels) the average cost of payroll incurred over the last twelve months or $2,000,000.

Email: PPPLoans@ampac.com or Call: 909-915-1706 (to schedule zoom meeting with a PPP team member)

Guidance & Resources

  • Accessing Capital for Minority Underserved, Veteran and Women-Owned Business Concerns Guidance

    This form is from the SBA.gov website.

  • Top-Line Overview of First Draw PPP Loans

    This form is from the SBA.gov website.

  • Top-Line Overview of Second Draw PPP Loans

    This form is from the SBA.gov website.

  • Interim Final Rule #1 – PPP as Amended by Economic Aid Act

    This form is from the SBA.gov website.

  • Interim Final Rule #2 – PPP Second Draw Loans

    This form is from the SBA.gov website.

  • Procedural Notice – Modifications to SBA Forms 3506, 3507 and 750 CA

    This form is from the SBA.gov website.

  • Procedural Notice - SBA Procedural Notice on Repeal of EIDL Advance Deduction Requirement

    This form is from the SBA.gov website.

Loan Details

  • This loan has a maturity of 5 years and an interest rate of 1%.
  • Businesses are eligible for the lesser of 2.5x (3.5x for NAICS code 72 business, i.e. resturaunts and hotels) the average cost of payroll incurred over the last twelve months or $2,000,000.
  • Loan payments will also be deferred for six months. No collateral or personal guarantees are required. Neither the government nor lenders will charge small businesses any fees.
  • All applicants must verify their previous six weeks of payroll, and must verify payments for qualified expenditures for the eight weeks after receiving the loan.

Who is Eligible?

  • Any business that has suffered a loss in revenue of 25% or greater during any quarter of 2020. (A reduction in gross receipts from any quarter in 2020 relative to that same quarter in 2019)
  • You have already used or will use all of the proceeds from your first PPP loan, if one was received
  • Available to businesses that were in operation prior to February 15, 2020
  • This program is for any small business with less than 300 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organization or 501(c)(19) veterans organizations affected by coronavirus/COVID-19.
  • Small businesses in the hospitality and food industry with more than one location could also be eligible at the store and location level if the store employs less than 300 workers. This means each store location could be eligible.

Key Take-aways

Here are some key take-aways for anyone that is looking to apply for either their first or second PPP loan:

  • A second PPP loan will be available for businesses with fewer than 300 employees which sustained a loss of revenue of 25% or greater during any quarter in 2020.
    • Restaurants and hotels (NAICS code 72 will be eligible for 3.5x average monthly payroll) and all other businesses will be eligible for 2.5x.
    • Loan size is capped at $2MM, and the total of the two loans cannot exceed the initial $10MM cap.
  • Expenses paid for with PPP loans will now be considered tax-deductible.
  • Expenses eligible for forgiveness have been expanded to include the following. If your loan has already been forgiven, you are excluded from this change.
    • Operational expenditures - business software, payroll software, HR, billing functions, accounting, tracking of inventory
      Property damage - vandalism or looting that is not covered by insurance (during 2020 only)
    • Supplier costs - PO’s, perishable goods, or inventory
      Worker protection - screens, cough guards, or any structure necessary to be in compliance with new health codes from the CDC or DHHS
    • PPP Loans under $150,000 will have a one-page forgiveness application.
    • 501(c)(6) organizations that are not lobbying organizations such as chambers of commerce, trade associations, and boards of trade are now eligible if they have fewer than 150 employees.

For more information and updates, visit SBA.gov/PPP or Treasury.gov/CARES

Loan Forgiveness Application Instructions for Borrows

To apply for forgiveness of your Paycheck Protection Program (PPP) loan, you (the Borrower) must complete this application as directed in these instructions, and submit it to AmPac Business Capital (or the Lender that is servicing your loan).

Here are the documents you need:

  • Loan Forgiveness Application EZ Instructions

  • Loan Forgiveness Application Complete Instructions

  • PPP Forgiveness Application

List of Lenders Serving Non-Existing Customers

Provided in the downloadable document are direct links to each bank's website. Please note some are actually fully automated and everything can be submitted online, others are using a secured file-sharing system that you can upload your documents after speaking to one of their representatives.

Do you have questions for us?

We care about you and are here to help with any questions you have.  Call us at (909) 915-1706 or click the button below and fill out our contact form.