proud to have funded over $1 billion to 8,000+ businesses

Important Paycheck Protection Program updates

We are in the process of updating the Paycheck Protection Program loan applications with new information provided by the SBA. Details on the new applications can be found on the SBA website. These changes include more flexibility for borrowers that file IRS Form 1040 Schedule C, as well as other changes. Please note that SBA published rules state that any loan already approved and/or funded cannot be retroactively increased to take advantage of this latest change. Also for Schedule C filers, please check back to this page to see when we will have the new SBA mandated application available and do not apply until that new form is available.

 

We anticipate having the updated applications available in the next week. While you may still apply using the links below, it may be necessary for you to provide additional information once the new applications are available.

 

In addition, we are pleased to accept 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 may now 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.

Paycheck Protection Program (PPP) Quick Links

New PPP program for businesses with less than 20 employees

The SBA has established a 14-day exclusive period for businesses and nonprofits with less than 20 employees. Visit the SBA website for additional details. This special application period also includes these modifications:

  • Allows sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants;
  • Eliminates an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal;
  • Eliminates PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP; and
  • Ensures access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.

Be sure to review the other information regarding the PPP program on this page as well as on the SBA website.

Existing First Financial Bank clients may apply using the links at the top of this page.

Not a First Financial client? Learn how you can apply.

New 2021 program information

The new stimulus package passed by Congress provides expanded resources for the CARES Act Paycheck Protection Program. This program provides $284 billion for businesses across the country. The program is available to those who participated in the PPP program last year as well as new participants.

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-SD
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 3-31-2021 Ends on 3-31-2021
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.
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.

For an overview of 2021 PPP applications, please watch the webinar 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.









*Indicates field is mandatory


Questions? We're here to help.

2020 CARES Act PPP Loan Forgiveness

We recently received changes to the SBA’s PPP loan forgiveness applications. We have suspended accepting forgiveness applications for loans from the 2020 PPP program at this time, while we incorporate these changes into our digital loan forgiveness portal. These changes include a simplification of the application for loans of $150,000 or less. We will re-activate the loan forgiveness portal once the SBA is prepared to accept new forgiveness applications.

Please continue to check this page for updates.


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


All loans and deferments subject to credit review and approval.

Information accurate as of 03/05/2021.

First Financial Bank is not affiliated with any third parties mentioned above. Any reference to any person, organization, activity, product, and/or service does not constitute or imply an endorsement. By clicking on a third party link you acknowledge you are leaving bankatfirst.com.

You’re about to leave bankatfirst.com

First Financial Bank is not affiliated with any third-party websites. Any reference to any person, organization, activity, product, and/or services does not constitute or imply an endorsement. First Financial Bank is not responsible for the content or security of any linked web page.