1. PPP Loan Forgiveness Help Center
  2. Forgiveness Application Questions

If I have two PPP loans in 2021, can my Covered Periods for the two loans overlap?

Your Covered Period is the time period during which qualified expenses are eligible for forgiveness. The Covered Period begins on your Disbursement Date and ends on a date you select that is at least 8 weeks after your Disbursement Date, but not more than 24 weeks after your Disbursement Date.

If you received both a First Draw loan and a Second Draw loan in 2021, your First Draw loan’s Covered Period End Date must come before their Second Draw loan’s Disbursement Date. Per SBA guidance, borrowers were required to use all proceeds from their First Draw loan before receiving a Second Draw loan – your two loans’ Covered Periods should not overlap.

To avoid overlapping Covered Periods, we suggest that in the Setup > Covered Period section of your First Draw forgiveness application, you:

  • Determine the latest day you paid for, or incurred, any eligible expenses you would like to be forgiven in this loan’s forgiveness application.
  • Select a Covered Period End Date that is the day after that date.

Once you select this Covered Period, be sure the forgivable expenses you're claiming and any required documentation align with that Covered Period to avoid any overlap with your Second Draw loan's Covered Period.

If the Disbursement Date of your Second Draw loan is under 8 weeks after the Disbursement Date of your First Draw loan, make sure you only claim each forgivable expense once between the two loans and can show documentation for those expenses accordingly.