Paycheck Protection Program

Next Round of

Paycheck Protection Program (PPP) Funding

What you need to know.

The new COVID Pandemic Relief Bill has been passed by Congress and was signed into law on December 27, 2020. National Capital Bank plans on participating in the new round of PPP loans.  Details will be forthcoming, pending guidance from the Small Business Administration (SBA) on the new process, effective dates and application requirements. Additional information, resources and updates can be found by visiting these sites: 

New requirements. 

Based upon information NCB has received so far, some of the new requirements for a new PPP loan will include certifications and proof that borrowers:

  • Employ not more than 300 employees;
  • Have used or will use the full amount of their first PPP loan; and
  • Are able to demonstrate at least a 25% reduction in gross receipts in the first, second, third or fourth quarter of 2020 relative to the same quarter in 2019.


  • The maximum loan amount will be $2,000,000.00.
  • The calculation of the loan amount will remain the same, 2.5X average monthly payroll costs, unless the borrowing entity is in an industry assigned to NAICS code 72 (Accommodations and Food Services), which may receive loans of up to 3.5X average monthly payroll costs. 

Loan Forgiveness.

Paycheck Protection Program loans should be fully forgiven if the funds are used for eligible expenses such as payroll costs, interest on mortgages, rent, and utilities (at least 60% of the forgiven amount must have been used for payroll). 

The Bank has established a strategic partnership with a third party software company specializing in data processing systems for banks.  An online platform will be made available for our PPP borrowers to submit their forgiveness data, upload supporting documentation and create the forgiveness application, which the bank will be able to review, validate and file with the SBA. 

The new Relief Bill also includes:

  • Expanded language has been added for allowable use of funds for certain non-payroll expenses
  • Eligibility for the Simple form forgiveness application has been expanded to loans of $150,000 or less

If you have not yet submitted your forgiveness application, we recommend consulting your CPA and/or attorney for further guidance.

What is next?

NCB continues to work closely with the SBA while further guidance is being finalized.  Once received, we will provide information on our application process and update this page accordingly. Please be sure to check back frequently.

Have questions or need more information? Please contact our PPP Team by phone (202) 851-4496 ext.6234 or email at