Apply for a First Round PPP4 Loan

The requirements for a first round loan under the PPP4 regulations differ from the earler PPP loan programs in several important aspects.  The information link below will provide access to information from the SBA on the new program requrirements.

The PPP First Round Loan Application (form 2483) is better designed than the previous form and has better instructions for completing the form.

Information on applying for a first round PPP4 loan

The following links can provide helpful information to complete the form 2483 for a first round PPP loan.  Note that two of these documents were published by SBA prior to the passage by Congress of the new law and its effective date of December 29, 2020.  As a result, the information in the How-to-Calculate and the FAQs may not entirely be in alignment with the new law.  The SBA is expected to publish updated material, but until they do this is the most recently available.

Short overview of first round (also called first draw) under the new law.

Covers most types of business. Still largely correct under new law.

The SBA has published FAQs several times since the adoption of PPP in March 2020.  This is the most recent, published three weeks before the new law became effective.  We have redacted many sections that were clearly in conflict with the new law or no longer relevant.  There are still statements in this FAQ that are not entirely alligned with the new law, but they are fairly minor.

Steps for applying for a first round PPP4 loan

Click on the green link below to open the SBA form 2383.  The form is a "fill in the blank" Adobe PDF.  Save the form to your computer.  You can start, stop, and restart the form the form if it is saved to your computer.  After you have completed the form, send it to us by either of the two methods described below.

Do not submit multiple applications! Multiple applications will signifiantly slow your application processing and may cause all applications to be rejected.

If you think you have made a mistake on your first application, wait for our email notifying you that a secure private Box has been created for you to upload documents.  Then, upload a letter explaining what you want to change with a file name: "need to change application".

A - Download and complete these three forms

Save these three forms your computer.  You can start, stop, and restart the Application if it is saved.  When complete, Send the Application to us by one of the two methods described below.  Once we open a private, secure Box.com folder for you, we will send you an email with instructions on which documents you need to upload.  After we open the secure Box folder, you can send us the remaing documents as listed our Form 100 - Document Checklists.

Note:  this is the standard SBA first round application published on January 8, 2021.  If you have obtained that form from another source and have completed it, you may use that Application. THE FORM MUST BE COMPLETED ON A COMPUTER.  WE ARE NOT ABLE TO ACCPT HANDWRITTEN FORMS.

If you have uploaded your documents to another server, you will need to upload them to your Box.com folder again.

B - Send us the completed forms

There are two methods to send us the completed forms:

(1)  Send it by email to Microsoft's secure Exchange servers:

ppp4-intake@paymentsecurity.net

When this email opens in the email client on your computer:

  • Attach the completed First Round Applicaton
  • Attache the completed Supplemental Borrower Information Form
  • Type the Business Legal Name in the Subject line.
  • Send

(2) If you prefer to not send the form through email, then send it to your private, secure Box. com folder.

To create your private, secure Box.com folder, send us an email to Microsoft's secure Exchange server:

ppp4-intake@paymentsecurity.net

When this email opens in the email client on your computer:

  • Type the Business Legal Name in the Subject Name
  • In the body of the email:
    • Provide the last four digits of the business TIN (EIN or SSN)
    • Tell us you want a private, secure Box.com folder that you can upload the form.

In both cases (1) and (2), we will open the private, secure Box.com folder and send you the email invitation to link to the folder.  When we receive the First Round Application and the Supplemental Borrower Information Form, we will review your Application and send you an email with a list of the additional documents required.

After we receive your application and all the required documents, we will have it reviewed by your lender.  If the lender approves the application, we will submit it to the SBA for approval of the loan guarantee.  If the SBA approves, we will send you closing documents by Docusign for electronic signature.  After you sign the closing documents, your lender will fund the loan.  In some cases, your lender may be a credit union, in which case you will have the additional step of becoming a member of the credit union.

C - Send us the Required Documents 

Click on the green button to link to the download page for information about the additional forms and documents that you will need to upload to your private Box.com folder.