Paycheck Protection Program Second Draw for Quad Cities Small Businesses

6.7x More Job Protection

More jobs protected than any bank or credit union in the QCA in PPP Round 1

Advantages of a Community Bank Partner: #1 Most Jobs Protected by Size

#1 Local Decision Making

We’re participating, no question. No pass off to a tech solution or Wall Street. No delay in processing. Local service.
Advantages of a Community Bank Partner: #1 Most Loans by Size

100% for the Quad Cities

Our efforts are built for the stakeholders of the Quad Cities, because we are 100% owned by family and Quad Citizens.
We demonstrated our connection to the community in PPP Round 1 and look forward to doing so again.

Paycheck Protection Program (PPP) Update as of 1/14/21

You have been asking and waiting for it and now it is here… It is time to apply for PPP 2.0 and we are here to help! There are a few changes to note from the last round.

Application Process

We have invested in tools to make this process easier than last time. No paper application is necessary. Below is the link to our new application portal, which will allow you to apply electronically beginning Friday, January 15 at 8:00 am CST:


Send any questions to

Program Eligibility

  • Generally, to be eligible for a Second Draw PPP Loan, a borrower must:
    1. have received a First Draw PPP Loan and have used, or will use, the full amount of the First Draw PPP Loan on or before the expected date on which the Second Draw PPP Loan is disbursed,
    2. generally, have fewer than 300 employee, and
    3. experienced a 25% or greater revenue drop (note – any forgiveness of a First Draw PPP Loan does not count as revenue) for either
      • any one quarter of 2020 when compared to the same quarter in 2019
      • all of 2020 when compared to all of 2019.
  • The maximum loan amount for a Second Draw PPP loan is $2mm.
  • Businesses that are part of a single corporate group cannot receive more than $4,000,000 of Second Draw PPP Loans in the aggregate.
  • The loan amount will be calculated at average monthly payroll x 2.5 (adjusted to 3.5x for businesses with NAICS beginning with 72). A borrower may use 2019 or 2020 payroll to make the computation.
  • The outstanding amount of an Economic Injury Disaster Loan (EIDL) made between January 31, 2020 and April 3, 2020 that borrower seeks to refinance should be added to PPP loan amount. EIDL Advances should not be added to loan amount since they do not have to be repaid.
  • The SBA posted the second draw regulation here. We strongly encourage you to read the regulation in its entirety.


  • If you have already received a PPP Round 1 loan from us please provide the supporting documentation for the revenue decline listed in the eligibility requirements, which may include the following:
    1. Relevant tax forms
    2. Annual or quarterly income statements; or
    3. Bank statements (if the above are not applicable)
  • If this is your first experience with us please provide us with the appropriate organizational documents, support for the revenue decline as well as the support for the average monthly payroll amount. Examples of the required documentation are noted below:
    1. Revenue Decline Documentation:
      • See above
    2. Payroll Documentation:
      • IRS Form 940 (if applicable), IRS Form 941 (for each quarter in 2019 or 2020), or equivalent payroll processing records;
        1. In the event the borrower is self-employed, with no employees, the borrower’s 2019 or 2020 Form 1040 Schedule C would be required.
      • State quarterly wage unemployment insurance tax reporting forms, for each quarter in 2019 or 2020 (if using SUTA in payroll costs); and
      • Documentation on any retirement and employee group health, life, disability, vision and dental insurance contributions
    3. Organizational Documentation;
      • Articles of incorporation/organization;
      • Bylaws/Operating agreement;
      • Resolutions (if applicable)


  • We will assume that all loan proceeds will fund into an account to be held or currently held at the bank.
  • Previous PPP loan applicants that closed the separate PPP account can be reopened easily.

This time it is mathematically impossible for the money to run out (given some of the restrictions in place) so please be patient and most importantly—DO NOT PANIC. We’ve got this and will make it happen. The program is set to expire by May 31, 2021, but other than that we will ensure that each application is handled as timely as possible.