PPP Knowledge Center
(Updated March 26, 2021)

  • The Small Business Administration (SBA) has extended the PPP loan program to Monday, May 31, 2021 or when funding runs out. The SBA estimates the program will run out of funding prior to May 31, 2021 so borrowers should not delay their applications. F&M Bank will continue accepting PPP applications from clients who have an active banking relationship established on or before Friday, March 26, 2021. We encourage all interested clients who meet this criteria to apply as soon as possible.
  • The SBA has released a new application form and rules that allow a Schedule C filer to use gross income instead of net profit to calculate their loan amount.
  • The SBA and Treasury have ruled that borrowers whose PPP loans already have been approved cannot increase their loan amount based on the new methodology.
  • If you would like to apply for a PPP loan, please call the F&M Bank Client Care Center at (562) 344-2238 or contact your Relationship Manager at your local F&M Branch Office
  • Please visit F&M Bank's PPP Library for copies of webinars, presentation decks, and client communications, including our latest webinar, "PPP Update on Obtaining Loan Forgiveness and New PPP Loans" held on January 13, 2021.
  • Please bookmark this page and check back often for updates.



General PPP FAQS

  1. Will F&M Bank be making First and Second Draw PPP loans?
  2. What is the difference between a First and Second Draw PPP loan?
  3. How do I apply for a PPP loan with F&M Bank?
  4. What is the deadline for applying for a First or Second Draw PPP loan?


  1. What are the eligibility requirements for a First Draw PPP loan?
  2. Are there any additional requirements for entities not eligible during the first round?
  3. How will the loan size be calculated for a First Draw PPP Loan?
  4. When will the covered period begin for a First Draw PPP Loan?
  5. What is the deadline to apply for a first draw PPP loan?


  1. What are the eligibility requirements for a second draw PPP loan?
  2. Are any entities ineligible for a Second Draw PPP loan?
  3. How will the loan size be calculated for a Second Draw PPP Loan?
  4. What is the deadline to apply for a second draw PPP loan?
  5. What documentation is required to apply for a Second Draw PPP Loan?
  6. Is the documentation required from a Sole Proprietor or Independent Contractor different than other applicants?
  7. What costs are included in calculating gross receipts for the 25% revenue reduction requirement?
  8. What documentation is required to demonstrate a reduction in gross receipts of 25% or greater?


  • Subject to terms, conditions, and credit approval. Submitting an application is neither a commitment nor an offer to lend by the Bank at this time, and is subject to the availability of PPP funds.
  • As a Borrower under the Paycheck Protection Program, it is your sole legal responsibility to comply with all laws and regulations applicable to Borrowers under the Small Business Administration Paycheck Protection Program (SBA PPP).
  • Farmers & Merchants Bank urges SBA PPP Borrowers to closely review the latest SBA PPP law, regulations and guidelines (Guidelines). The Guidelines can be found on the Small Business Administration and the Department of Treasury websites: www.SBA.gov and www.Treasury.gov. Farmers & Merchants Bank cautions you that the Guidelines are evolving. The Small Business Administration periodically updates the Guidelines. Some updates modify prior Guidelines, other updates provide further clarification.
  • Farmers & Merchants Bank does not provide legal, tax, or accounting advice. Individual facts and circumstances vary from Borrower to Borrower which will impact any answers regarding any interpretation of questions. You should consult with your legal, tax, and accounting advisors to obtain advice regarding your specific situation. Our education materials and communications should be considered in connection with, and are not intended to replace or serve as a substitute for, your close review of the Guidelines, and legal, tax or accounting advice you are urged to obtain from your tax, accounting and legal advisors.
  • Our communications are summaries or excerpts of the Guidelines, and may contain our opinions or interpretations of the Guidelines. There may be interpretations that are valid that differ from our interpretations and opinions. You are cautioned against placing undue reliance on our views and our educational materials.