Paycheck Protection Program Liquidity Facility (PPPLF)
Non-depository institutions should visit the PPPLF for Non-Depository Institutions page for additional information.
Last Updated 3/8/2021
What's New?
On March 8, 2021, the Federal Reserve Board announced it will extend the PPPLF by three months to June 30, 2021.
Any PPPLF participant that plans to request a new advance under the PPPLF on or after January 14, 2021, must execute an updated Letter of Agreement. All PPPLF participants, including depository institutions, must execute the appropriate updated Letter of Agreement for Depository Institutions. The PPPLF will be available to eligible participants that pledge any SBA-guaranteed PPP Loans that they have originated or purchased pursuant to the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act. All PPP loans pledged to the PPPLF must meet all applicable SBA and PPPLF requirements.
A PPPLF participant may complete a pledge and request a PPPLF advance by submitting the Paycheck Protection Program Liquidity Facility PPP Pledge and Advance Request form. Additional instructions for submitting the pledge and advance request are explained more fully in the PPPLF Borrowing Documentation Guide.
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.
PPPLF Transaction Forms
The table below identifies the forms needed to process PPPLF transactions. Please do not alter the forms and only supply these forms to facilitate the transactions. Please use FRSecure email transmission to submit completed PPPLF documentation to the PPPLF mailbox at your lending Reserve Bank.
| FORM | USE CASE | SAMPLE |
|---|---|---|
| PLEDGE / ADVANCE | ||
| Paycheck Protection Program Liquidity Facility PPP Pledge and Advance Request (advance request) |
This form is used to submit underlying SBA loans pledged as collateral and to request an advance from the PPPLF. PPP loans must be pooled by maturity date, and only one maturity pool can be submitted per pledge and advance request form. Effective January 15, 2021, this single pledge and advance request form replaces the two forms (Transmittal Form to Pledge Collateral and Request Advance - PPPLF and the Paycheck Protection program Individual Loan Reporting Table - PPPLF) that were used starting in April 2020. |
Sample - Paycheck Protection Program Liquidity Facility PPP Pledge and Advance Request |
| 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.
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) |
| 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.
|
Sample - Transmittal Form for Full Payoff |
Term Sheet
PPPLF Borrowing Documentation for Depository Institutions
- Letter of Agreement - PPPLF (Effective January 14, 2021)
- Borrower Certification - PPPLF
- PPPLF Borrowing Documentation Guide
- Sample - Letter of Agreement - PPPLF
- Sample - Borrower Certification - PPPLF
For Depository Institutions without access to the discount window, an additional document is required:
- Authorizing Resolutions for Borrowers
Please Note: If your institution was chartered by the State of Wisconsin, please complete the Authorizing Resolution for Borrowers Chartered by the State of Wisconsin
PPPLF Operational Documents for Depository Institutions
- PPPLF Operational Document Guide
- Reporting Requirements for Paydowns of PPP Loans Documentation Guide
- Guide for Pledging PPP Loans with Modified Maturities
Additional information can be found on the Frequently Asked Questions page.
