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Prospective customers and Vantage customers who did not receive a PPP loan in 2020, submit your information to inquire about the Paycheck Protection Program.

Paycheck Protection Program (PPP) - 2021

For customers who took a PPP loan with Vantage in 2020

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.

Maximum loan amount and increased assistance for accommodation and food services businesses

For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs up to $2 million. For borrowers in the Accommodation and Food Services sector (use NAICS 72 to confirm), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs up to $2 million.

Who may qualify

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 only 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

How to apply

Customers who have/had a PPP loan through Vantage Bank Texas in 2020 can apply directly with your Vantage Bank Texas Relationship Manager beginning Tuesday, January 19, 2021.

  • Acquire the SBA application, rules and supplemental materials here.
  • Complete the application and submit it along with supporting documents to your RM.
  • Your RM will oversee your application as it makes its way through the SBA approval process.
  • If your loan application is approved by the SBA, your RM will keep you informed as to the funding process and anything that needs to be done beyond that.
The Paycheck Protection Program is implemented by the Small Business Administration with support from the Department of the Treasury.