We’re launching a simplified, expedited application for existing customers early next week.

We’ll communicate by email when the application for existing customers is available.

SBA Coronavirus Assistance Program Apply for a Paycheck Protection Loan

Find out if you qualify in minutes. In 2020, we helped more than
155,000 small businesses apply quickly for PPP funds.

Apply now
Deadline to apply is March 31, 2021
Business Loans, Line of Credit and Invoice Factoring from BlueVine

Loans up to $2 million

Interest rates at 1.0%

No payments for 10 months

Get fast relief for your business with
a government-backed loan

First and Second Draws

Eligible businesses can apply for first or second draw PPP loans.

Potentially 100% forgivable

Full loan forgiveness for eligible payroll, mortgage interest, rent, and utility expenses.

Easy to apply

Apply online with some basic information and find out if you qualify within minutes.

Reliable working capital

Eligible for up to 2.5x your average monthly payroll costs with a government-backed loan.1

About
the program

The SBA Paycheck Protection Program (PPP) is specifically designed to aid eligible small businesses with potentially 100% forgivable loans during the Coronavirus pandemic. The latest government stimulus package commits $284.5B to PPP and allows for First and Second Draws and simplified loan forgiveness.

First Draw
general requirements

  • Be a small business or sole proprietor, independent contractor, eligible self-employed individual, non-profit organization, tribal concern, housing co-op, small agricultural co-op, or other entity affected by COVID-19 in an applicable industry
  • Have 500 or fewer employees
  • In operation on February 15, 2020

Second Draw
general requirements

  • Be a small business or sole proprietor, independent contractor, eligible self-employed individual, non-profit organization, tribal concern, housing co-op, small agricultural co-op, or other entity affected by COVID-19 in an applicable industry
  • Demonstrate a ≥25% reduction in gross receipts in 2020 compared to 2019
  • Have 300 or fewer employees2
  • Have used (or will use) the full amount of the first PPP Loan on eligible expenses
  • In operation on February 15, 2020

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What you need to apply

Certain documentation is required. BlueVine recommends the following documents, which have a higher likelihood of going through our automated system.

First Draw applicants

  • Details of full-time employees and associated payroll costs
  • Details of all owners with greater than 20% ownership stakes
  • Proof of mortgage interest and rent payments, utility bills, and bank statements

Small business with employees

  • Quarterly 941 forms, yearly 940 or 944 forms, 1120- S forms, or payroll documentation with a corresponding letter from the payroll processor

Contractors or non-employers3

  • 2019 1040 - Schedule C or F form

Second Draw applicants

  • Details of full-time employees and associated payroll costs
  • Details of all owners with greater than 20% ownership stakes
  • Proof of mortgage interest and rent payments, utility bills, and bank statements

Small business with employees

  • Quarterly 941 forms, yearly 940 or 944 forms, 1120-S forms, or payroll documentation with a corresponding letter from the payroll processor

Contractors or non-employers

  • 2019 1040 - Schedule C form
For Second Draw applicants only

If your loan request is over $150K, you will also be required to submit documents at the time of your application that demonstrate a 25% reduction in revenue compared to the same time period in 2019, which may include tax forms, quarterly financial statements, or bank statements.

Loan Forgiveness

New SBA rules include simplified forgiveness for loans less than $150,000—with more guidance for borrowers to come. If BlueVine is managing your loan forgiveness process, you’ll hear from us by email once we’re ready to accept applications. No action is required. We are not accepting forgiveness applications at this time.

Frequently asked questions

The SBA Paycheck Protection Program (PPP) is specifically designed to aid eligible small businesses with forgivable loans during the Coronavirus pandemic. The latest government stimulus package commits $284.5B to PPP and allows for second draws and simplified loan forgiveness.

This round of PPP lasts from when the SBA opens it up to March 31, 2021, and has two loan options available for eligible businesses: an Initial Draw for those who haven’t received a PPP loan and a Second Draw for those who already received a PPP loan during the first PPP round.

BlueVine plans to help as many small businesses as possible with PPP applications in 2021, including Second Draw applicants that didn’t have their first loan with us. We’re closely monitoring the rapidly changing program and will provide updates as information becomes available, including when it’s time to apply.

Certain documentation is required. BlueVine recommends the following documents, which have a higher likelihood of going through our automated system.

Initial Draw applicants:

  • Small businesses with employees: Quarterly 941 forms, yearly 940 or 944 forms, 1120- S forms, or payroll documentation with a corresponding letter from the payroll processor
  • Contractors or non-employers1: 2019 1040 – Schedule C or F form


For Second Draw applicants:

  • Small businesses with employees: Quarterly 941 forms, yearly 940 or 944 forms, 1120-S forms, or payroll documentation with a corresponding letter from the payroll processor
  • Contractors or non-employers: 2019 1040 – Schedule C form 
  • Self-employed individuals, sole proprietors, or independent contractors must use the previous calendar year in their payroll calculations
  • Other businesses may use the one-year period prior to the loan being made in their payroll calculations

For Second Draw applicants only–If your loan request is over $150K, you will also be required to submit documents at the time of your application that demonstrates a 25% reduction in revenue compared to the same time period in 2019, which may include tax forms, quarterly financial statements, or bank statements.2 

Additional documentation may be required of all applicants:

  • Basic information about you and your business
  • Details of full-time employees and associated payroll costs
  • Details of all owners with greater than 20% ownership stakes
  • Proof of mortgage interest payments, rent payments, and utility bills
  • Bank statements

New applicants can get started on their PPP application. BlueVine will share further information on how we’ll continue helping small businesses with this program. If you’re an existing BlueVine customer, we’re working on simplifying your application. We’ll contact you by email once it’s time to apply.  

  1. If you’re an Initial Draw PPP applicant, eligibility terms are similar to the initial program launched in 2020. US small businesses in operation as of February 15, 2020, with fewer than 500 employees, including these now-eligible business types, can apply:
  • Tribal businesses meeting the SBA’s size standard
  • Housing coops with no more than 300 employees
  • Certain broadcast and news organizations
  • “Destination marketing organizations” that generally don’t engage in lobbying and have fewer than 300 employees

If you’re a Second Draw PPP applicant, you must meet the following additional criteria and note that additional conditions may apply:

  • Have fewer than 300 employees*
  • Have used your entire first-round PPP loan
  • Demonstrate a 25% loss in revenue over a certain period

The following businesses are no longer eligible for a PPP loan: 

  • Businesses not in operation as of February 15, 2020
  • Businesses that receive grants under the new “live venue” program
  • Publicly-traded companies

The President, Vice President, heads of executive departments, Members of Congress, and their spouses

*Small businesses in the Food and Accommodation industry (NAICS 72) and other eligible organizations may qualify for a PPP Second Draw if they have over 300 employees.

New applicants can apply on our website. If you’re an existing BlueVine customer, we’re working on simplifying your application. We’ll email you once it’s time to apply.

Existing PPP borrowers are not limited to their original lender.

Yes, the new Paycheck Protection Program round includes loan forgiveness changes, including a simplified forgiveness process for borrowers with loans under $150,000 and expanded forgivable expenses. The SBA is working on releasing detailed guidance for these changes and others that may impact borrowers.

Small businesses that previously received a PPP loan may be eligible for a Second Draw. Generally, for small businesses to qualify for a Second Draw PPP loan, they must have been in operation on February 15, 2020, and:

  • Have fewer than 300 employees*
  • Have used your entire first-round PPP loan
  • Demonstrate a 25% loss in revenue for a certain period

Additional conditions may apply, and various documentation is needed.

*Small businesses in the Food and Accommodation industry (NAICS 72) and other eligible organizations may qualify for a PPP Second Draw if they have over 300 employees.

SBA funds are limited.
Deadline to apply is March 31, 2021

Funds subject to SBA availability

Apply now