PPP Application and Resources

SBA Paycheck Protection Program Application and Resources

Applying for a Loan

Update as of 4/12/21:  The First Hawaiian Bank online PPP loan application portal will be closed on April 16, 2021 at 5:00 p.m. HST. Although the PPP Extension Act of 2021 extended the program deadline to May 31, 2021, we expect the funds to be exhausted before that date. We are closing our portal on April 16, 2021 to give us time to process as many applications as possible before the funds are exhausted.

No additional applications will be accepted once the portal closes.  All applications that have been received prior to the portal closing will continue to be processed as long as the SBA funds are available.

First Hawaiian Bank will only be accepting PPP loan applications from existing business customers. This is to ensure that we can provide the service and support that our customers need throughout the application process. We are requiring all customers that decide to apply for a PPP loan to have a business checking or savings account with us. If you do not currently have one with us, click here to begin the account opening process online.

Use the following tool to assist you in the navigating the application portal:

Quick Start Guide

Select the worksheet below that applies to you.

The Documentation Checklist and Payroll Calculator worksheet will assist you with determining your loan amount and documentation requirements.  If you are a Schedule C filer who wants to use gross income to calculate your loan amount, select the applicable Schedule C option below. Otherwise, select the All Other Applicants option.  

You will need to submit the completed Documentation Checklist and Payroll Calculator with your application.

Schedule C WITHOUT Employees
Schedule C WITH Employees
All Other Applicants

First Time Applying for a PPP Loan

SBA First Time Draw Overview

The basic guidelines for first time applications are largely unchanged for most businesses.

At a high level, you are eligible to apply if:

Your organization has 500 or fewer employees (this number is 300 for certain types of businesses)

You are a sole proprietor, independent contractor, or eligible self-employed individual

You are an eligible tax-exempt non-profit, including churches

Second Time Applying for a PPP Loan

SBA Second Time Draw Overview

Businesses who have already secured a PPP loan can apply for additional assistance.
At a high level, you are eligible to apply if:

Your organization has 300 or less employees and has seen drops of at least 25% of gross receipts in 2020 compared to the same quarter in 2019

Your current loan does not need to be forgiven before you apply, but you must certify that you have exhausted your existing loan on qualifying expenditures prior to your second loan being funded


    Eligible first-time PPP borrowers include (“1st Draw” PPP Borrowers):

    • Eligible small entities that, together with their affiliates (if applicable), have 500 or fewer employees
    • Sole proprietors, independent contractors, and eligible self-employed individuals
    • 501(c)(6) organizations are eligible provided they do not have more than 300 employees and do not receive more than 15% of their funds from lobbying
    • Other eligible nonprofits, including 501(c)(3) organizations and churches

    Eligibility Requirements for Second-Time PPP Borrowers (“2nd Draw” PPP Borrowers). If you already received a PPP loan, you may apply for a second PPP loan if:

    • Current economic uncertainty makes the PPP loan necessary to support ongoing operations
    • Your loan request is $2 million or less
    • Your business, together with affiliates (if applicable), has 300 or fewer employees
    • Your business used or will use the full amount of your first PPP loan on eligible expenditures before disbursement of your second PPP loan
    • Your business can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019

    The Economic Aid Act clarifies that businesses that were not in operation on February 15, 2020 are not eligible for a PPP loan. Businesses involved primarily in political or lobbying activities are also ineligible for PPP loans. In addition, entities affiliated with the People’s Republic of China and registrants under the Foreign Agents Registration Act are not eligible for a second PPP loan.

    For more information, visit the SBA website here.

      No, you do not need to have received forgiveness on an existing PPP loan to apply for a second PPP loan.

        Loans are capped at 2.5 times an applicant’s average monthly payroll costs for the selected payroll period (3.5 times for restaurants and other eligible hospitality businesses for 2nd Draw Loans only).

        Loans are limited to a maximum of $10 million for 1st Draw PPP borrowers and $2 million for 2nd Draw PPP borrowers.

        For more information, visit the SBA website here.

          The loan proceeds can be used to cover a business’s payroll (at least 60%) and other qualified expenses (no more than 40%), including mortgage interest or rent payments, utilities, covered operations expenditures, and COVID-19 protections for workers.

          For more information, visit the SBA website here.

            Please see the FHB PPP Documentation Checklist, available here.

              The requirement to present the revenue reduction documentation when submitting the PPP loan application only applies to 2nd Draw PPP Loans greater than $150,000.

              2nd Draw PPP loans of $150,000 or less are not required to submit the revenue reduction documentation when submitting the PPP loan application. However, documentation must be provided when applying for PPP forgiveness.

                To be eligible for full loan forgiveness, PPP borrowers will have to spend no less than 60% of the funds on eligible payroll expenses over a covered period of 8 to 24 weeks.

                Other uses of the funds that will be potentially forgivable include:

                • Rent, covered mortgage interest, and utilities
                • Covered worker protection and facility modification expenditures, including personal protective equipment to comply with COVID-19 federal health and safety guidelines
                • Expenditures to suppliers that are essential at the time of purchase to the recipient’s current operations
                • Covered operating costs such as software and cloud computing services and accounting needs

                Please visit SBA Paycheck Protection Program Loan Forgiveness for information on applying for forgiveness.

                  Businesses are allowed to select any period between 8 and 24 weeks.

                  NOTE: This change allows more flexibility for PPP borrowers. Previously, PPP borrowers were required to use a 24 week covered period or to pick either 8 or 24 weeks.

                    PPP loans have an interest rate of 1% and a 5 year maturity. Loan payments will be deferred for borrowers who apply for loan forgiveness until SBA remits the borrower’s loan forgiveness amount to the lender. If a borrower does not apply for loan forgiveness by 10 months after the end of the covered period, the borrower will be required to start making loan payments.

                    For more information, visit the SBA website here.

                      Congress set aside an additional $284.5 billion for new and second draw PPP loans. Borrowers can apply for 1st and 2nd Draw PPP Loans until March 31, 2021 or until the PPP funds have been exhausted.

                        The new law creates a simplified forgiveness application process for new and existing PPP loans of $150,000 or less.

                        This means a borrower will receive forgiveness if they sign and submit a one-page certification, and no other documentation is required. However, please note that this new simplified forgiveness application and the associated requirements are still in development by the SBA. Also, if a borrower with a 2nd Draw loan of $150,000 or less does not provide documentation of the 25% revenue reduction at the time of loan application, that documentation will need to be provided later in connection with the forgiveness application. 

                          Lenders are only required to pay agents when they contract directly with the agent. First Hawaiian Bank will not be contracting with any agents for PPP loans and therefore will not be paying any agent fees. If a borrower has received assistance from an agent, the borrower is responsible for paying the agent’s fees and is not authorized to use funds from the PPP loan for such payment.

                            For more PPP information, visit the SBA website here.

                            For information on applying for a PPP loan, click here to be directed to our FHB PPP Quick Start Guide.

                            We encourage you to visit SBA Paycheck Protection Program Loan Forgiveness webpage often for the information regarding the latest round of the SBA Paycheck Protection Program. Should you have additional questions regarding PPP or the application process, please email PPPQuestion@fhb.com.