COVID-19 Resources for Business Owners​

Information Current as of February 26, 2021

Paycheck Protection Program (PPP) Updates
Please continue to monitor this webpage for updates to our PPP process

The Economic Aid Act has resulted in a new round of Paycheck Protection Program (PPP) loans.  This new round includes First Draw (for Borrowers who did not previously receive a loan) and Second Draw (for Borrowers who received a First Draw loan) PPP loans.  New rules have been released in conjunction with the program and can be found on the Treasury website.  Please keep in mind that it is your responsibility to understand the rules and determine your eligibility.

The Small Business Administration (SBA) has continued to release new guidance and additional information is expected. The accuracy of your loan and forgiveness applications is of the utmost importance, so we will continue to make changes to our process as needed.  This may result in an extended turnaround time or additional communication with your representative.

The SBA believes that the recent program changes will meet the demand for this round of loans. They have also changed their approval process and have asked Banks and Customers to exercise patience.  Banks will no longer receive SBA approval instantaneously as the SBA will be conducting front end compliance checks. 

First Draw PPP Loans

Please reference the SBA Overview of First Draw PPP Loans in addition to the program rules to better understand your eligibility.  Salisbury Bank will only be accepting First Draw inquiries for existing customers.  The SBA released information on 1/19/2021 “How to Calculate Maximum Loan Amounts for First Draw PPP Loans and What Documentation to Provide By Business Type”. If you are eligible based on the program rules and are an existing customer of Salisbury Bank, please fill out the inquiry form below to be added to our queue. Your request will be processed in the order in which it was received.

Second Draw PPP Loans

As a result of the Economic Aid Act a new round of PPP loans (Second Draw Loans) has been launched by the SBA. These loans are for Borrowers that previously received a First Draw (initial) PPP Loan. Please reference the SBA Overview for Second Draw PPP Loans  in addition to the program rules to better understand your eligibility. The SBA released information on 1/19/2021 “How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide for Second Draw Loans”.

Please be advised that the Second Draw Loan is a new loan application.  In order to ensure that your request is processed in an efficient manner we ask that you submit the necessary supporting documents to verify your loan calculation, even if some of those items were included with your First Draw Loan.

There are certain eligibility requirements that a Borrower must meet in order to qualify for a Second Draw.  These include, but are not limited to:

  • The Borrower received a First Draw (an initial PPP loan) loan and has or will use all of the loan proceeds within the parameters of those rules on or before the date of disbursement of the Second Draw Loan.
  • The Borrower can demonstrate at least a 25% reduction in gross revenue in any one quarter from 2019 compared to the corresponding quarter in 2020.
  • All program rules, including eligibility requirements, can be found at the Treasury website


Salisbury Bank will only be accepting Second Draw inquiries for customers who received their First Draw loan through Salisbury Bank.  
If you are eligible based on the criteria noted above please fill out the inquiry form below to be added to our queue.  Your request will be processed in the order in which it was received.

PPP Inquiry Form

Please note that completing this form is the only way to begin your request to apply for a PPP loan.  Completing this form is not the application for a PPP loan nor does it guarantee that your application will be approved.

Salisbury Bank’s Forgiveness Process

  • The Economic Aid Act also includes changes to the forgiveness process.  The SBA released a new rule that addresses “Loan Forgiveness Requirements and Loan Review Procedures”.  Many of the changes focus on loans less than $150,000, which will assist in expediting the process in applying for forgiveness.  
  • We are pleased to report that all of our initial First Draw PPP Borrowers have been sent a secure email with instructions on how to begin the forgiveness application process. Please contact us if you need the email resent.
  • The SBA and Treasury continue to update the rules of the program.  It is recommended that you visit the Treasury website to review the additional guidance.  Please keep in mind that it is your responsibility to determine your eligibility. 
  • Our digital application provides guidance on each tab, so please be sure to read through the material provided. The software also features a message tab that will allow you to send messages and upload supporting documents securely.
  • After we have completed our review of your forgiveness application and supporting documentation we will send your application to the SBA. The SBA then has 90 days to perform their review before a final forgiveness decision is made.
  • The SBA has released a Forgiveness Factsheet that provides an overview of the process and a list of the possible documentation that you will need.
Additional Resources

There are additional programs available to business owners impacted by COVID-19, these programs are not facilitated through Salisbury Bank or other financial institutions/Banks.

The Small Business Administration has multiple programs to assist businesses 

For businesses domiciled in Connecticut please visit this link to learn about additional resources available to you at the State level:  https://portal.ct.gov/Coronavirus/Information-For/Business-Resources
For businesses domiciled in Massachusetts please visit this link to learn about additional resources available to you at the State level:  https://www.mass.gov/info-details/covid-19-resources-and-guidance-for-businesses
For businesses domiciled in New York please visit this link to learn about additional resources available to you at the State level. http://www.nyssbdc.org/CoronaSBupdates.html