SBA PPP Loan Information – 2021


Thank you for contacting Citizens Bank of the South for assistance with your SBA Paycheck Protection Program loan. The SBA is offering a second round of PPP loans to assist businesses still negatively affected by the COVID-19 Pandemic, and Citizens Bank is proud to partner with you again. Applications are now being accepted by CBOTS for this program.

The 2021 program operates under similar guidelines of the 2020 disbursement. For PPP loan applicants that obtained a loan in 2020, borrowers have the option of using payroll information from 2019 or 2020 for this round’s application. If you used 2019 numbers for the first loan application and choose to use the same information for this request, there is no additional supporting documentation that must be provided for the payroll costs. However, if you choose to calculate the loan amount for 2021 based on 2020 payroll expenses, you will need to provide a new calculation form, along with the supporting tax reports, as was required in last year’s application. As with the last offering, the maximum loan amount for most eligible businesses is 2.5 months of average payroll expenses.

An additional requirement for taking advantage of the 2021 PPP Offering is that applicants must prove a 25% reduction in revenue in 2020 in relation to receipts in 2019. This can be done by comparing a single quarter for 2019 and 2020 (i.e. 2nd qtr 2019 v. 2nd qtr 2020) or if you were in operation the full year for 2019 and 2020, an annual comparison may be done, if a single quarter does not show the 25% reduction. This information must be submitted with your application to CBOTS before your request will be forwarded to SBA.

The information above is a very generalized overview of the Second Draw program, for more information about the Second Draw PPP Loan Program, please click here.

Application for Round 2 PPP Loan Program

Please submit your completed application, revenue reduction documentation and other supporting information, if required, using the form below. If you have any questions, please contact your loan officer.

Thank you for allowing Citizens Bank of the South to serve you.


Form Submission:

Please select the Loan Officer Requesting Information

Click or drag files to this area to upload. You can upload up to 30 files.
Please know that your information security is a top priority of Citizens Bank. Uploaded files are securely encrypted and protected at all times. Information that is uploaded will be stored on servers owned and monitored by CBOTS. Information will automatically purge after 7 days.