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Exchange Bank and Trust Company

SBA Loan Program

SBA Payroll Protection Program

The Small Business Administration (SBA) has released its guidance and application for the re-opening of the Paycheck Protection Program. The new program is very similar to the previous program, however, it includes a "needs based" component for qualification.

Additionally, if you did NOT apply for the first round, you may apply through this round. Please see below for more information regarding the Payroll Protection Program. Contact your loan officer for any assistance or questions you may have. We want to help! The Paycheck Protection Program is a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll during.

SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. 

PPP Second Draw Summary

  • Second Draw PPP loans will be available to businesses with less than 300 employees that previously received a PPP loan.
  • Employee levels must be maintained.
  • Applicant businesses must have used or will use, all previous PPP loan funds for authorized purposes to qualify for the Second Draw loan.
  • The business must show documented proof of a 25% decline in revenues for any 1 financial quarter in 2020 corresponding with the same quarter in 2019. The business may also use annual 2020 and 2019 revenue to show proof of the 25% decline.
  • Loan amounts are calculated at 2.5 times your monthly payroll costs with a max amount of $2,000,000. Hotels and Food Service industries may qualify for a greater amount by calculating their loan amount by 3.5 times their monthly payroll cost.
  • These loans may be forgiven by the SBA if the loan funds are spent on authorized expenses.

Payroll Protection Applications

SECOND DRAW APPLICATION- If you received funding from the PPP First Draw, you will need to fill out this application for the Second Draw...


FIRST DRAW APPLICATION- If you did NOT apply for the first round of PPP loans, you will need to fill out this application...


To apply for this program, please follow these STEPS...
STEP 1: Fill out the application in it's entirety.
STEP 2: SAVE THE APPLICATION!!! Make sure you save your completed application so you can e-mail it to one of our Exchange Bank Loan Officers.
STEP 3: Choose an Exchange Bank Loan Officer from the list below and send your application to them via email ASAP so they can begin processing your application for you.

Connelly Wade:
Angela Abney:

Andrea Bendele:
Garrett Morris:

We are always available by phone. Please call us at 580.336.5531 or 405.742.0202 if you need any assistance filling out the application or if you have questions regarding the program.

To learn more about the program, please visit the US Treasury website available here...

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Come to one of our locations today to fill out an application and take advantage of the benefits today!

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