PPPLF for Non-Depository Institutions

Last Updated 8/3/2021

What's New?

The termination date for the Paycheck Protection Program Liquidity Facility (PPPLF) was July 30, 2021.  As a result, no new extensions of credit will be made under the PPPLF after July 30, 2021.

Current PPPLF participants must continue to submit the reduction report in accordance with the cadence established with the lending Reserve Bank, or every two weeks at minimum. The archive of historical PPPLF documentation can be found on the PPPLF Historical Documentation page.

Additional information can be found on the Frequently Asked Questions page.

Individual PPP Loan Reduction Report Instruction Video

This video demonstrates the process for completing the Paycheck Protection Program Liquidity Facility Individual PPP Loan Reduction Report. You will use this form to submit PPP loan reduction payments and the matching PPPLF advance reduction.

Term Sheet


PPPLF Operational Documents for Non-Depository Institutions

PPPLF Transaction Forms

The table below identifies the forms needed to process PPPLF payments and payoffs. Please do not alter the forms and only supply these forms to facilitate the transactions. Please use FRSecure email transmission to submit completed documentation to the PPPLF mailbox at your lending Reserve Bank.

FORM USE CASE SAMPLE
PAYMENT
Individual PPP Loan Reduction Report (reduction report)

This report is for submitting PPP loan reduction payments and the matching PPPLF advance reduction. The lending Reserve Bank will reduce the PPPLF advance amount to ensure that the PPPLF advance amount does not exceed the outstanding amount of PPP loans pledged to secure the advance.

  • Note:  Include all PPP loans pledged to secure a given PPPLF advance that have a balance.  Any PPP loan excluded from the loan list will be treated as paid off and the Reserve Bank will reduce your PPPLF advance accordingly.  For PPP loans that have been paid off entirely, you can either remove them from the loan list or update the current balance for those PPP loans to zero.

Effective September 18, 2020, this single reduction report form replaces the two forms (Transmittal Form for Reporting Reductions of Outstanding Principal Balance of Small Business Administration Paycheck Protection Program Loans Pledged to Secure Paycheck Protection Program Liquidity Facility Advances and the Paycheck Protection Program Individual Loan Listing Table) that were used starting in May 2020.

Sample - Individual PPP Loan Reduction Report (reduction report) - PPPLF Non-DI
PAYOFF
Transmittal Form for Full Payoff

This form is used to pay off an advance in full prior to maturity. This form is used when funds are no longer needed but collateral is not necessarily paid down or off.

A Paycheck Protection Program Individual Loan Reporting Table is NOT required to accompany this form. The PPPLF loan will be considered fully paid off and the associated maturity pool of collateral will be automatically withdrawn.

  • Note: The origination date requested is the date of the PPPLF advance, not the origination date of underlying collateral pool.
Sample - Transmittal Form for Full Payoff - PPPLF Non-DI


PPPLF Contacts for Non-Depository Institutions

  • Community Development Financial Institution - certified by the U.S. Department of the Treasury
    Federal Reserve Bank of Cleveland
    Email:
    Phone:
    (888) 719-4636
  • Small Business Lending Company (SBLC) - licensed and regulated by the Small Business Administration
    Federal Reserve Bank of Minneapolis
    Email:
    Phone:
    (877) 837-8815
  • Agriculture Credit Association - member of the Farm Credit System
    Federal Reserve Bank of Minneapolis
    Email:
    Phone:
    (877) 837-8815
  • All other Non-Depository SBA PPP Lenders
    Federal Reserve Bank of San Francisco
    Email:
    Phone:
    (866) 974-7475