COVID-19: Paycheck Protection Program

Paycheck Protection Program Update:

The Paycheck Protection Program (PPP) has been extended. We are now able to accept and submit PPP applications to the Small Business Administration (SBA) through May 31, 2021. To ensure all of our pending applications are submitted to the SBA prior to the May 31, 2021 deadline, we will accept PPP applications through May 24, 2021.

Because we need to be sure we have time to process the PPP applications we have already received, we are not accepting additional applications through our online portal at this time. If you are interested in applying for the SBA Paycheck Protection Program, click on the Notify Me link below, and we will notify you should we be able to accept your application.

Please Note: If you have a Commercial or Private Wealth Relationship Manager, please reach out to them directly, instead of submitting the notify me form below.


The Small Business Administration has issued implementing and interpreting regulations. Learn more regarding second PPP loan requirements. For forgiveness information, visit our PPP Forgiveness page.

We cannot guarantee that BOK Financial will ultimately be able to accept your Paycheck Protection Program (PPP) loan application, that your PPP loan application will be successful or that funding will be available to you from the PPP whether due to lack of funds in the PPP, the volume of PPP loan applications received by BOK Financial or the SBA, or otherwise.

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Second PPP Loan Requirements

  • Generally, businesses will be eligible for a second round of PPP loan if:
    • It employs not more than 300 employees;
    • Has used, or will use, the full amount of any first PPP loan on eligible expenses; and
    • Demonstrates at least a 25% reduction in gross receipts in any quarter of 2020 relative to the same 2019 quarter.
  • The amount of second round PPP loans will generally be 2.5x average monthly payroll costs (except for certain industries like restaurants and accommodations) and is capped at $2,000,000. Schedule C filer applicants have the option to calculate their loan amount based on gross income.
  • Second round PPP expands eligibility to additional types of non-profits, news organizations, destination marketing organizations and others.
  • PPP loan funds must be used for eligible expenses, which have been expanded to include:
    • Covered expenditures for operations. Payment for any software, cloud computing, and other human resources and accounting needs.
    • Covered property damage costs. Costs related to property damage due to public disturbances that occurred during 2020 that are not covered by insurance.
    • Covered supplier costs. Payments to a supplier pursuant to a contract, purchase order, or order for goods that was in effect prior to taking out the loan and was essential to the recipient's operations at the time at which the expenditure was made. Supplier costs of perishable goods can be made before or during the life of the loan.
    • Covered worker protection expenditure. Investments in personal protective equipment and other adaptive costs to help a loan recipient comply with federal health and safety guidelines or any equivalent State and local guidance related to COVID-19 during the period between March 1, 2020, and the end of the national emergency declaration.
  • To achieve full forgiveness, 60% of the PPP loan must still be used for eligible payroll expense.