These are general guidelines and are subject to change through the final rulemaking and eligibility requirements from the U.S. Small Business Administration (SBA). Changes governed by the SBA may impact application dates and potentially delay the application process.

Your Small Business Resource

On January 11, 2020 at 9am ET, Congress announced the approval of an additional $284 billion under the SBA Economic Aid Act, that will afford qualifying small businesses the ability to apply for the CARES – ACT Paycheck Protection Program (PPP) Loan.

In anticipation of the SBA resuming PPP Loans, we can begin accepting your small business PPP applications to ensure the timely submittal upon the SBA portal opening in the coming days.

Deadline to apply for the Second Draw PPP Loan is March 31, 2021. Funding is limited.


First time borrowers:

You are eligible for a First Draw PPP Loan if you:

  • Didn’t apply or receive funding for the First Draw PPP loan;
  • Have no more than 300 employees, and…
  • The business was operational as of February 15, 2020.

The loan can be up to 2.5 times the business’ average monthly payroll costs, up to a $10 million loan maximum.

Second time borrowers:

You are generally eligible for a Second Draw PPP Loan if you:

  • Previously received a First Draw PPP Loan (either through Amerant or another financial institution) and will or have used the full loan amount only for authorized uses;
  • Have no more than 300 employees, and…
  • Can demonstrate at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020.

Maximum Loan Amount

    For most borrowers, the maximum loan amount of a Second Draw PPP Loan is 2.5x average monthly 2019 or 2020 payroll costs (up to $2 million).

    For borrowers in the Accommodation and Food Services sector (NAICS 72), the maximum loan amount for a Second Draw PPP Loan is 3.5x average monthly 2019 or 2020 payroll costs (up to $2 million).

    Please note that the relevant time period for calculating a borrower’s payroll costs for a Second Draw PPP Loan is either the twelve-month period prior to when the loan is made or calendar year 2019.

Full Forgiveness Terms

Borrowers under Second Draw PPP Loan, will qualify for loan forgiveness if during the 8 to 24-week covered period following loan disbursement:

  • Employee and compensation levels are maintained in the same manner as required for the First Draw PPP Loan;
  • The loan proceeds are spent on payroll costs and other eligible expenses, and…
  • At least 60 percent of the proceeds are spent on payroll costs.

For further details on the program, please reference our Resource Center, visit or

As always, thank you for choosing Amerant as your trusted financial advisor.

To expedite the application process, we invite you to reference the Resource Center below for important information, program overview, application, and more. Please ensure that your information is as accurate as possible on all of the documentation being submitted, in order to properly calculate the loan amount. Inaccurate data may jeopardize approval as set by the SBA guidelines.


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Resource Center

Who is eligible?
  • First-time PPP Loan applicants that have been in business since February 15, 2020, with less than 300 employees
  • Existing PPP loan borrowers with less than 300 employees, that have revenue reductions of 25% between comparable quarters in 2019 and 2020, and have spent the full amount of their first loan prior to the funding of their second PPP loan
  • 501 (c)(3) non-profits with less than 500 employees
  • Sole Proprietors and independent contractors
  • Veterans organizations
  • Tribal organizations
Interim Final Rule

What are the benefits?
  • Borrow up to $2 million
  • Term: 5 years
  • Interest Rate: 1%
  • No Guarantee fees
  • No Prepayment Penalty
  • No Collateral Needed
  • Loan may be forgiven and/or deferred
  • No “Credit Elsewhere” Requirements

What will I need to prepare?
    First-time PPP loan applicants
  • Year-to-date 2019 or 2020 payroll, along with payroll for the previous 12-month period
  • Health insurance premiums paid by you (business owner) for a group health plan during 2019 or 2020
  • Retirement plan contributions paid to your employees during the same period

  • Second Draw Amerant PPP loan borrowers
  • Documentation demonstrating a 25% revenue reduction between comparable quarters in 2019 and 2020
  • PPP First Time Borrower Application
  • PPP Second Draw Borrower Application

Who do I contact?
  • Please reach out to your banking officer or call us directly at:
  • To schedule an appointment, visit our Locations page