The most recent stimulus bill signed into law includes provisions for a First Draw and Second Draw Paycheck Protection Program (PPP3) Loan. Tuesday, January 19, 2021, the U.S. Small Business Administration will begin accepting Paycheck Protection Program applications from Fairfield County as part of Round 3 funding.  Fairfield County Bank is currently accepting client applications through our online portal.

If you are a client interested in applying for a PPP Loan, please review the information below.

To streamline the process, all applications and supporting documentation must be submitted through Fairfield County Bank's online application portal. You may find details on how to get started below.

Although details may change with formal SBA guidance, the bill includes a few provisions to consider,

First Draw PPP Loans

  • First Draw loans will be available to those businesses which did not previously receive a PPP Loan.
  • First Draw applicants do not need to meet the 25% revenue reduction that is required for Second Draw Loans
  • (Most) businesses are limited to 500 employees per location – rather than the 300 per location limit for Second Draw

Second Draw of PPP

  • Eligible entities are not required to have applied for forgiveness from the first in order to apply for the second draw
  • Loans meant for coverage of 2.5 months of payroll, based on 2019 average payroll. Restaurants and food service businesses are eligible for 3.5 months.;
  • Loans are limited to $2MM and under;
  • 60% of the funds must be allocated to employee payroll and used within a 24-week time period;
  • Eligible entities must demonstrate they already used or plan to use their original PPP funding;
  • Eligible entities are now 300 employees or less (reduced from 500 employees in prior round of PPP);
  • Eligible entities must demonstrate a 25% reduction in gross receipts from the same quarter in 2019 to the same quarter in 2020.
    • The actual bill text is, "…had gross receipts during the first, second, third, or, only with respect to an application submitted on or after January 1, 2021, fourth quarter in 2020 that demonstrate not less than a 25 percent reduction from the gross receipts of the entity during the same quarter in 2019."
  • Borrowers will have the ability to select a covered period. This can be anywhere between 8 and 24 weeks. Previously, the covered period was 8 or 24 weeks.
  • PPP loans will have a maturity of 5 years from inception and all PPP loans have an interest rate of 1%.

Please visit the SBA website for the latest information and contact your accountant for further guidance on the regulations.

Getting Started

  • Second draw applicants will need your SBA Loan Number* to complete the application.

  • The online application requires you to set up an account with an email address and password. (A single account may be used to submit multiple applications.)
  • Applications may be completed in more than one sitting.
  • Supporting documents will need to be uploaded to the online application.
  • "Signature Key" - When signing the application, you will be required to view the completed application and retrieve a "signature key." This key is located at the signature line on the form.
  • Click the link to access our online application: https://forms.onlineaccountaccess.com/secure2/fairfieldcountybank

What to Expect After You Submit the Online Application

  • The Bank will review your application and advise if any additional documentation is needed.
  • The Bank will submit the completed applications once the SBA reopens access to Fairfield County Bank.


We are committed to you and your business and want to assure that we are supporting you as best we can. Please know we are working diligently so that we are prepared when the SBA begins accepting applications from Fairfield County Bank.

We genuinely value your partnership and are here for you to answer questions and act as a support during the PPP application process.If you have a relationship with a commercial lender, we ask that you reach out to them directly with your questions, if not; you may contact your local branch manager or call our Customer Care Team at 877-431-7431.

Click here to start your application.

* Your SBA loan number is included in your documents. If you do not have a copy, please reach out to Customer Care at 877-431-7431 to obtain your SBA loan number.