PPP Lender Agreement. Existing borrowers may be eligible for PPP loan forgiveness.It's up the lender to decide the amount of documents you need to provide. A PPP loan allows a business applicant to receive funds up to 2.5 times the applicant's average monthly payroll costs. How do I apply for PPP Loan? • You will need to fill out the Paycheck Protection. The PPP funds must be used for payroll costs in the 24 weeks following loan disbursement. SBA determines whether the applicant has credit available elsewhere. Application Process. After filling out the online application form and submitting all required documents, an SBA loan officer will review your credit.