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Paycheck Protection Program

PPP Loans

Last Updated: March 5, 2021

We are currently working to update our PPP loan application portal to reflect guidance released by the SBA on March 3, 2021 regarding PPP loan amount calculations for certain new applicants who report income on IRS form 1040, Schedule C. Because this new guidance may result in new applicants with Schedule C filings being able to obtain higher loan amounts, we recommend that you wait to apply until after our portal has been updated under the terms provided in the new guidance.

On February 24, 2021, the SBA began a 14-day period in which it will only accept PPP loan applications from businesses and nonprofits with 19 or fewer employees.

PNC is still accepting applications from eligible customers (regardless of number of employees) during this period. However, we will not be permitted to submit applications to the SBA for customers with 20 or more employees until March 10, 2021, per SBA guidance.

Although we cannot submit applications to the SBA for customers with 20 or more employees during this period, we will continue to review applications that have already been submitted to PNC, regardless of employee count.

First Draw PPP Loans

If you do not currently have
an outstanding PPP Loan

Businesses that have not previously received a PPP loan may apply for a first draw-PPP loan. Note that the rules and eligibility requirements for new, first PPP loans are different than those for second draw PPP loans.

Second Draw PPP Loans

If you have already
received a PPP Loan

Businesses that have previously received a PPP loan may now apply for a Second Draw PPP loan. We are currently accepting applications online, and we ask that customers not complete the SBA paper applications for submission to PNC.

Some borrowers may need to re-substantiate their average monthly payroll costs when applying for a second draw PPP loan by re-submitting documentation supporting their average monthly payroll costs.

Prepare Your Documentation

For additional information, please review the list of helpful documents provided by PNC to prepare for your application

Download the PPP Loan Application Document Checklist »

Interested in Applying?

Please select the option below that best describes your business:


I am enrolled in
PNC Online Banking.

Please use a Chrome Browser for the application.
Important information to know before applying »




I am NOT enrolled in
PNC Online Banking.

Please contact your banker to receive
a PPP loan application invite via email.
Once you've received your invite:



Important Information to Know Before Applying

PPP Loan Forgiveness

We have updated our PPP loan forgiveness application portal to reflect SBA guidance and have resumed sending invitations to apply for PPP loan forgiveness to borrowers with loans funded in 2020 for $150,000 or less. You will receive an email invitation from PNC once we are ready for you to apply for forgiveness under the terms provided for in the new guidance.

We are currently only sending invitations to apply for forgiveness to customers with First Draw PPP loans that were funded in 2020 for $150,000 or less and do not have any potential excess loan amount errors or missing borrower documentation.

We understand your desire to begin the PPP loan forgiveness process and appreciate your patience.

If you have already applied for PPP loan forgiveness, we will contact you if additional information is required based on SBA guidance.

We’ve made some updates to our forgiveness process to addresses changes needed in light of SBA guidance and have begun accepting some applications in our forgiveness portal. Borrowers with loans less than or equal to $150,000 will notice a number of changes. Please note:

  • If you already started or submitted an application, all of the information and uploaded documents you already provided are still saved in the portal. When you log back into your application along, the previously submitted information as well as any new questions now required under SBA guidance will be visible.
  • Some Application Steps on the dashboard page might not be applicable to you.
  • Please confirm that you have answered all required questions before signing and submitting, or resubmitting, your application.


Please note that if you haven’t applied for forgiveness, payments are not due until 10 months after the end of your applicable covered period, as described in your PPP promissory note.

Once you apply for forgiveness, payments on any unforgiven portion of your loan will be due in the first month after the SBA remits a forgiveness payment to PNC. If you do not apply for forgiveness, your first payment will be due in the first month after your deferral period ends. It is important to note that:

  • Payments will not start until 10 months after the end of your elected covered period. 
  • If you have already received forgiveness, you will be reimbursed for any EIDL advances that were deducted from their forgiveness payment, as per SBA guidance.



SBA guidance prohibits borrowers from receiving forgiveness on any amount of the PPP loan that exceeds the “correct maximum loan amount” as calculated under current statutes, regulation and guidance.

For borrowers who received a PPP loan in 2020:

  • PNC will be unable to approve requests for forgiveness for any amount that exceeds the correct maximum loan amount. Borrowers are required to repay any unforgiven portion of a PPP loan under the terms of the PPP loan agreement. 
  • PNC is completing a review of all existing PPP loans. If we have contacted you regarding needed documentation for your initial PPP loan, we ask that you continue to work with us to provide these. If not, we may be reaching out in the future to discuss your loan and request certain additional documentation.


Prepare Your Documentation

For additional information, please review the list of helpful documents provided by PNC to prepare for your application

Download the PPP Forgiveness Application Document Checklist »

Frequently Asked Questions

We continue to evaluate our Frequently Asked Questions to align with SBA guidance. Questions and answers are subject to change.

PPP First and Second Draw Loans

PPP Loan Forgiveness

Application & Documentation

Borrower Process & Eligibility

Lender Process


Qualified Expenses

Important Legal Disclosures & Information

  1. Please note that it is possible that SBA could request the Questionnaire from any borrower who ever received a loan of $2MM or more, even if the loan was repaid in full, or paid down to less than $2MM.

  2. See 85 FR 20817 (April 15, 2020) regarding application of SBA's affiliation rules.

  3. Note that selecting an 8-week period shortens the time frame for costs you can claim for forgiveness, and impacts your ability to revert decreases in number of employees and salaries/wages, potentially lowering the forgiveness amount.

This information is based on currently available information and is subject to change. We are committed to keeping you informed as we receive additional guidance.

PNC will not pay Agents for assistance they may provide an applicant in obtaining a PPP loan or submitting a claim for forgiveness.

Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.

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