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SBA Paycheck Protection Program (PPP)

At the end of 2020, Congress passed a major COVID-19 relief bill that included $284.5 billion in fresh funding for the Small Business Administration’s Paycheck Protection Program (PPP) and updates to the program’s rules and eligibility requirements.

Created last March under the Coronavirus Aid, Relief and Economic Security Act (CARES Act), the PPP has provided relief for millions of businesses affected by the pandemic through low-interest, forgivable small-business loans to help cover payroll and other approved expenses such as rent, utilities and mortgage interest.


The latest round of PPP funding (known as “PPP2”) once again offers loans up to $10 million for eligible first-time borrowers. It also allows eligible existing PPP borrowers to apply for a second-draw loan up to $2 million when they meet specific criteria.

Other updates provide greater flexibility for borrowers, including:

  • A more flexible covered period (during which PPP funds must be used to qualify for forgiveness)
  • An expanded list of approved business expenses
  • A simplified forgiveness process for loans up to $150,000
  • Higher loan amounts for eligible businesses in the accommodation and food services industry

As before, borrowers can qualify for full forgiveness if certain conditions are met. The loans will have a low 1% interest rate, a five-year repayment term and deferred payments.


Information for businesses that have not already received a PPP loan.

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See if you are eligible for a second-draw PPP loan.

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Learn about forgiveness eligibility and how to apply.

Learn More

Now Accepting PPP Loan Applications

Before applying for a PPP loan from Simmons Bank, we encourage you to familiarize yourself with the PPP’s updated requirements by reviewing the program rules and other guidance from the SBA. You may also review our FAQ pages for First-Time or Second-Draw borrowers.

NOTICE: Please be aware of potential scams related to PPP loans. Use caution with suspicious emails and when in doubt, do not click links within emails you're not expecting or provide sensitive information over the phone to persons you do not know.

Get Started

Please click below to complete the inquiry form. One of our knowledgeable business bankers will reach out soon to help you access our secure online application portal.

Security Notice

The Small Business Administration recently issued a cyber warning alert regarding email phishing campaigns where malicious actors are impersonating the SBA and its Office of Disaster Assistance to collect personally identifiable information (PII) for fraudulent purposes. The SBA is advising loan applicants to look out for email scams and phishing attacks using the SBA logo. These may be attempts to obtain PII, access personal banking accounts, or install ransomware or malware. For additional information, click here.

  • {101} Please note that Simmons Bank is continually working to update our resources as new information becomes available.

    Loans are subject to customer qualification and approval by Simmons Bank. Loan applications to the SBA Paycheck Protection Program must submitted to the SBA by March 31, 2021.

  • {97} Benefits and features are subject to customer qualification and approval by Simmons Bank.