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

Why can’t I submit my second forgiveness application before my first one, if my loan is over $150,000?

For loans over $150,000, the SBA requires that borrowers submit their first draw loan forgiveness applications to SBA before they can submit their second draw loan forgiveness application.

Link here:

"For Second Draw PPP Loans in excess of $150,000, the borrower must submit its loan forgiveness application for the First Draw PPP Loan before or simultaneously with the loan forgiveness application for the Second Draw PPP Loan, even if the calculated amount of forgiveness on the First Draw PPP Loan is zero."

See also: What if I don't want to claim forgiveness on my first draw loan, but do want to claim forgiveness on my second draw loan?