System maintenance will be performed, beginning at 10:00 AM ET on Sunday, April 18. During this time you may experience limited functionality and technical issues when opening a new account online or submitting an online PPP loan application or PPP forgiveness. Please contact your local First Financial Bank financial center or our Client First Center at 877.322.9530 during regular business hours for assistance.

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Important Paycheck Protection Program updates

The SBA opened Shuttered Venue Operators Grants (SVOG) applications to assist operators of live venues, live performing arts organizations, museums and movie theatres, as well as live venue promoters, theatrical producers and talent representatives to apply for critical economic relief, as those eligible entities are some of the first that had to shutter their doors a year ago in response to the COVID-19 pandemic. Apply directly through the SBA and discover additional information with the Shuttered Venue Operators Grants (SVOG) applications link above.

The Paycheck Protection Program (PPP) has been extended to May 31, 2021. Please review the detailed information below prior to submitting your application.

We updated our PPP application so borrowers who file IRS Form 1040 Schedule C may now apply using the new forms. New PPP application links for First Draw and Second Draw applications can be found, here. Please review the guidance for the PPP applications prior to clicking on the application link to ensure your application can be processed quickly.

We also continue to accept other PPP applications from existing First Financial Bank clients, as well as those wishing to establish a relationship with the bank. Not a First Financial client? Learn how you can apply.

Existing First Financial Bank clients can apply for new (first draw) or existing (second draw) Paycheck Protection Program loans. Application links are available below; however, please review the information on this page prior to applying to ensure you have the information needed to submit the application. A list of items you'll need to fill out your application is available here. You will receive updates as your loan application is reviewed and processed.

For second draw loans, applicants are required to sign each page of documents validating 25% revenue loss. This is an SBA requirement and necessary to process your loan.

PPP Loan Forgiveness update

Clients who have Paycheck Protection Program loans from 2020 are encouraged to apply for loan forgiveness. You can find the updated, simpler applications as well as helpful information on how to prepare to complete the electronic application, here. Please note: loans are not automatically forgiven and you must apply for loan forgiveness. We anticipate clients with loans originated in 2021 to be able to apply for loan forgiveness in late April. You will receive an email notifying you when you may apply for forgiveness.

Paycheck Protection Program (PPP) Quick Links

Program details

PPP FAQs

PPP loan forgiveness FAQs

New 2021 PPP application program information

Please review for the most up-to-date information on the Paycheck Protection Program. This program provides $284 billion for businesses across the country and is available to those who participated in the PPP program last year as well as new participants.

It is very important to review the detailed information below PRIOR to applying for your loan to ensure your application can be processed quickly.

Per SBA guidance, to avoid covered periods overlapping, PPP loan clients are required to wait a minimum of 8 weeks after receiving their first draw loan funds before applying for the PPP second draw loan funds.

New applications for sole proprietors using Schedule C and Gross Income

The SBA recently changed the Paycheck Protection Program to allow borrowers that file IRS Form 1040 Schedule C to utilize gross income in their loan calculations. Please note: the SBA published rules stating any loan already approved and/or funded cannot be retroactively increased to take advantage of this change. These application links are only for new PPP First and Second draw loans.

First draw sole proprietor Schedule C Loan

Second draw sole proprietor Schedule C Loan

Applications for NON-Schedule C borrowers

Apply for new (first draw) PPP loan

Apply for existing (second draw) PPP loan

Existing PPP clients

You can apply for a PPP Second Draw Loan if you have used or plan to use the full amount of your first PPP loan before you receive funding for your second draw.
The requirements are different from last year’s program and are listed below.
Your existing PPP loan does not need to be forgiven to apply for a second loan. For more information review the SBA's helpful details for existing PPP clients.

First time PPP borrowers and non-First Financial clients

You can apply for a PPP First Draw Loan under the program requirements listed in the following chart.
Not a First Financial client? Learn how you can apply.

If you prefer, you can download the grid, here.

First draw and second draw loan comparison

The information represents a high-level comparison of the two programs. Borrowers are encouraged to review the Interim Final Rules released by the SBA on 01/06/2021 for complete information.

Requirements	PPP First Draw Loans	PPP Second Draw Loans
General Requirements	Employ no more than 500 employees Meet the SBA size standard for the industry in which which the business operates or the SBA alternative size standard.	Employ no more than 300 employees Have used full amount of PPP 1st Draw prior to disbursement. Demonstrate 25% reduction in gross receipts in any quarter of 2020 versus 2019 (via tax returns).
Application Form	SBA 2483 SBA 2483-C (for Schedule C applicants)	SBA 2483-SD SBA 2483-SD-C (for Schedule C applicants)
Revenue Loss Proof	Not applicable	For loans $150,000 and less, certiﬁcation at application, provide supporting documentation at forgiveness application (comparable tax returns). For loans >$150,000, provide comparable tax returns or quarterly ﬁnancial statements.
Other Documentation	Documents to support the loan amount and proof business was active on 2-15-2020 (see IFR released 1-6-2021 for details).	Documents to support the loan amount and proof business was active on 2-15-2020 (see IFR released 1-6-2021 for details). If using same lender, borrower does not resubmit information already on ﬁle from the PPP 1st Draw Loan.
Eligibility	Businesses, certain non-proﬁts, veterans' organizations, tribal businesses, self-employed individuals, sole proprietors, and independent contractors. Religious organizations and ag related businesses are also eligible (IFR released 1-6-2021 details eligibility more speciﬁcally).	Businesses, certain non-proﬁts, housing cooperatives, veterans' organizations, tribal businesses, self-employed individuals, sole proprietors, independent contractors, and small ag cooperatives. Religious organizations are also eligible (IFR released 1-6-2021 details eligibility more speciﬁcally).
Ineligibles	Any businesses not included above including businesses on the existing SBA list of ineligibles (IFR released 1-6-2021 details eligibility more speciﬁcally).	Lobbying organizations, think tanks, afﬁliated with People's Republic of China, entities who received a grant under the Shuttered Venue Operator Grant program. Companies not in operation on 2-15-2020 are not eligible (other eligibility criteria on ﬁrst draw loans also apply).
Franchises	Must be listed on SBA franchise registry	Must be listed on SBA franchise registry
Maximum Loan Amount NAICS Code 72	2.5X average monthly payroll 2.5X average monthly payroll $10 million is maximum loan amount	2.5X average monthly payroll 3.5X average monthly payroll $2 million is the maximum loan amount
How to Calculate Loan Amount Seasonal	Refer to IFR released 1-6-2021 for details or refer to application instructions	Refer to IFR released 1-6-2021 for details or refer to application instructions
Multiple Locations	Certain industries can apply maximum employee count to individual locations.	Certain industries can apply maximum employee count to individual locations.
Affiliation Rules	SBA affiliation rules generally apply (with certain exceptions).	SBA affiliation rules generally apply (with certain exceptions).
Fees	None for lender or borrower Cannot charge borrower a packaging fee	None for lender or borrower Cannot charge borrower a packaging fee
SBA Guaranty	100%	100%
Term	5 years (early PPP had 2 years until 6-5-2020)	5 years
Rate	1%	1%
Collateral	None	None
Personal Guaranty	None	None
Payments	Deferred until 10 months after the borrower's selected covered period ends.	Deferred until 10 months after the borrower's selected covered period ends.
Demographic Information	Optional on application	Optional on application
Availability	Ends on 5-31-2021	Ends on 5-31-2021
Loan Forgiveness	Spend at least 60% of PPP funds on payroll costs	Spend at least 60% of PPP funds on payroll costs
Eligible Costs	Payroll costs, covered mortgage, rent and utility payments, covered operations expenses, covered property damage costs, covered supplier costs and covered worker protection expenses incurred during the covered period. (IFR released 1-6-2021 goes into additional detail)	Payroll costs, covered mortgage, rent and utility payments, covered operations expenses, covered property damage costs, covered supplier costs and covered worker protection expenses incurred during the covered period. (IFR released 1-6-2021 goes into additional detail)
Covered period	Borrower may select any covered period between 8 and 24 weeks after origination.	Borrower may select any covered period between 8 and 24 weeks after origination.
Forgiveness applications: $150,000 and less $150,001 and above	3508S 3508EZ or 3508 long form	3508S 3508EZ or 3508 long form
EIDL Advances	Requirement to deduct repealed Any loans already forgiven with a reduction will be paid to the bank with interest by the SBA.	Requirement to deduct repealed
Other	Not applicable	Forgiveness of first draw loan is not required to receive second draw loan.

More detailed information on the 2021 program

Prior to applying for PPP funding from the 2021 Program, we encourage you to read the following information pertaining to program details, such as eligibility and forgiveness, documents needed for the application, and other information provided by the SBA and Treasury Department.

Review this list of documents, payroll calculations, and information you’ll need prior to applying
Frequently Asked Questions (FAQ) about the new program
SBA guidance on how to calculate the maximum loan amount on PPP First Draw Loans
SBA guidance on how to calculate the maximum loan amount on PPP Second Draw Loans
A list of acceptable uses of PPP funds
Visit the SBA’s Paycheck Protection Program website and review the full details and application information

For an overview of 2021 PPP applications, please watch the webinar below by Jeff Magginnis, First Financial Bank's SBA guru.

Not a First Financial Bank client? We'd still like to help you with a PPP loan

Even if you are not a current client of First Financial Bank, we’re happy to help you apply for PPP funding. It will be necessary for you to meet with one of our bankers to open a First Financial business checking or savings account, in which the funds from your PPP loan will be deposited, and to establish a relationship. During these challenging times, having a local bank partner who is focused on your needs is important and we welcome the opportunity to help you.

Once your business account is open and active in our system, you’ll be able to apply for the PPP loan using our automated process. It may take 3 to 4 business days to open, validate and fund your account; however, once this part of the process is complete you will be able to use the automated PPP loan process. This allows us to quickly review your application and secure PPP funding in just a few days.

Please be sure to review the PPP eligibility requirements above to make sure your business is eligible. Please know that all businesses must be in the First Financial Bank footprint in Ohio, Kentucky, Indiana and Illinois.

Ready to get started? Complete the short form below, and in the box labeled “Tell us a little more about how we can help,” please be sure to indicate that you are a new customer looking for a PPP loan. A First Financial banker will reach out to you and get the process started. We’re looking forward to getting to know you and helping your business grow.

Applying for PPP Loan Forgiveness

We look forward to helping you apply for forgiveness of your Paycheck Protection Program loan. We have reopened our automated process which will allow you to complete the PPP loan forgiveness application online and upload any required documents. This will make applying for forgiveness easy and will negate the need for you to complete a paper application from the Department of the Treasury’s website. This automated process can only be used for PPP loans originated in the original program in 2020. You may not apply for forgiveness of a 2021 PPP loan at this time.

You will receive an email with a personalized link which you may use to apply for loan forgiveness. Please login to the portal within 24 hours of the email receipt in order to ensure accessibility. If you do not receive an email, you may visit the portal for access.

Important considerations before you apply for PPP loan forgiveness:

Applying for PPP Forgiveness with First Financial Bank will walk you through the forgiveness application process, provide details on the supporting documentation you will need in order to apply and offers links directly to the SBA and Department of the Treasury websites.
After submitting your application, you will receive a separate email that must be completed with the DocuSign in order for the process to continue. EZ filers must certify at least one of the bottom two initial locations on page 2.
There have been, and could continue to be, updates from the SBA and Department of the Treasury on the PPP loan program. We will continue to update our pages and links accordingly to assist the best we can.
First Financial Bank has created two videos to assist you through the automated loan forgiveness process. You’ll find these videos below.

You should only apply for forgiveness once per loan. It is important to read the materials, gather your documents and prepare to complete the forgiveness application ahead of time. If you have any questions, please reach out to our special PPP loan client mailbox SBAForgivenessQuestions@bankatfirst.com.

Please continue to check this page for regular updates. Thank you for choosing First Financial Bank as your financial partner.

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Payment relief for current First Financial SBA loan clients

First Financial Bank is offering deferment on many loan payments, which provides support and relief to our existing SBA loan clients. In addition, the stimulus relief program provides some relief for some existing SBA borrowers. Be sure to review SBA guidance for the most recent stimulus legislation and debt relief assistance available. You may receive a letter from the SBA outlining the program; however, if you are eligible for borrower relief from the stimulus, you will receive a letter from First Financial Bank detailing guidance specific to your loan. If you have any questions, please review our Frequently Asked Questions (FAQs), contact your banker, or email us at SBAForgivenessQuestions@bankatfirst.com.

More resources

Explore all COVID-19 banking center information

Traditional SBA loan options

All loans and deferments subject to credit review and approval.

Information accurate as of 03/30/2021.

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