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Frequently Asked Questions


Information about First Draw PPP Loans:

The law reopens the PPP program (through March 31, 2021) to allow First Draw (first-time) loans to businesses that did not receive them in 2020. These loans are provided under the same general terms and with the same limits as the initial PPP loans, with some key enhancements made by the Economic Aid Act.  For additional information about PPP First Draw Loans Click Here

Information about Second Draw PPP Loans:

PPP now allows certain eligible borrowers that previously received a PPP loan to apply for Second Draw PPP Loan. Second Draw PPP Loans made to eligible borrowers qualify for full 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 additional information about PPP Second Draw Loans Click Here

When Can I apply?

While the SBA has not yet opened their application portal for Community Banks, we will soon begin inviting clients to start their application, so that we can begin submitting to the SBA once we are able.


How Do I Apply for a First Draw PPP Loan?

First Draw PPP Loans: If you are a current Fremont Bank client who is interested in applying, please email us at SBAPPPAPP@fremontbank.com and include your name, business name, and contact information.  We will contact you when we are able to process your application, and invite you to apply through our PPP portal.


How do I Apply for a Second Draw PPP Loan?

If you received a PPP loan from Fremont Bank in round one you are in our queue. You will receive an email invitation to access our application portal; this self-service platform has been upgraded, and it will intuitively guide you through the application process.

We expect these invitations to be sent between January 14-January 22.

We are doing our best to prioritize applications based on a number of factors, including the operational impact of COVID-19 on your business and your relationship with Fremont Bank.  While there is no perfect way to prioritize requests, we are working to process applications in an equitable fashion.

Before logging in you will be asked to complete an authentication process, which requires that you provide the following information:

  • Business name, and tax identification number (TIN), for the entity that received the first PPP loan
  • Email address for a primary contact on the loan​
  • Fremont Bank deposit account number - The entity name and TIN of the business deposit account must match the name of the entity applying for the PPP loan (If you are applying for multiple PPP loans for different businesses you will need to have multiple business deposit accounts).  If you do not have an active business deposit account with Fremont Bank that meets these requirements, please contact your nearest branch, or email SBAPPPAPP@fremontbank.com; these accounts must be established before you will be invited to apply for a Second Draw PPP.  If your loan is approved, the funds will be deposited into the identified business deposit account.

What Documentation Will I be Asked to Provide?

If you are applying for a First Draw PPP Loan, please view the required documentation here.

If you are applying for a Second Draw PPP Loan, the following information is required to complete your application:

  • Payroll records – You have the option of using 2019 or 2020 payroll records.  You may choose to use 2020 payroll if it is higher than 2019, and therefore may support a larger loan amount; for most borrowers the maximum loan amount of a second draw PPP loan is 2.5x your average monthly payroll (up to $2 million).  Please note, if you use 2019 payroll, you will not need to resubmit the payroll documentation you provided for your First Draw PPP loan.
  • Quarterly gross receipt records for 2019 and 2020 – One of the conditions of eligibility for a Second Draw PPP loan is demonstrating at least a 25% reduction in gross receipts between comparable quarters in 2019 and 2020 (at least one quarter should meet the 25% threshold when comparing to the same quarter in 2019). You will be required to provide either Quarterly Income Statements, or Bank Statements, or Annual Tax Returns to document the quarterly decrease in gross receipts.  Please begin gathering this information now, as you will be asked to provide it at time of application. 

I am Not a Fremont Bank Client, Can I Apply for a PPP Loan?

If you are not currently a Fremont Bank client, we will update this page if and when we are able to process your application.  We are working quickly to meet the needs of our existing clients, and we will open our application to new clients as soon as possible; in the interim you may want to begin the process with your current bank.

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