Paycheck Protection Program

It is easier for small businesses to apply for Paycheck Protection Program Loans. 

BayFirst has partnered with ACAP/The Loan Source, to make the PPP 2.0 application process easier. This partnership will allow us to help more small business owners acquire a Paycheck Protection Program (PPP) loan to meet employee payroll expenses (wages, state and local payroll taxes, and certain benefits) and nonpayroll costs (payments of mortgage interest, rent, utilities, and expenses for operations, property damage, supplier costs, and worker protection).

Our partner ACAP/ The Loan Source will handle the entire process including application, communication, documentation, and loan funding.  Accessing SBA Paycheck Protection Program business relief funds should be an easy and seamless experience for you.

Now is the time to take advantage of the PPP relief funds to support your business and employees.

Don't Wait, Get Started ASAP!

Easy Application | Expedited Approval | Quick Closing Time

Apply Today

Important First Draw PPP Information

  • Maximum loan amount is $10 million
  • Maximum amount of employees is 500
  • Your business must have been established as of February 15, 2020

Important Second Draw PPP Information

  • Maximum Loan of $2 million
    • Loan amount equals 2.5 times average monthly payroll
    • For Accommodation and Food Services businesses loans will be calculated based on 3.5x the average monthly payroll. 
  • Maximum number of employees is 300
  • Must use or commit to using all of the first PPP loan received
  • Demonstrate a 25% reduction in gross receipts in any quarter of 2020 compared to that same quarter in 2019

    All information is subject to final rules and regulations published by the SBA.

*Please note this information reflects our understanding of the program rules at this time. Program rules and conditions are subject to change, and likely will change pending guidance and interpretation by the SBA.