The PPP Forgiveness application with streamlined documentation requirement for loan amounts of $150,000 and under is available.
Application form 3508S and the required Borrower’s Certification are available below for review.
Link to 3508s and Borrower Certification
Please remember, if you received an EIDL advance, the advance amount will no longer be deducted from the final forgiveness amount leaving a residual balance. If you already received a notice from Freedom Bank that you have an EIDL balance or you have paid it off, we will either pay the EIDL loan balance off or refund the proceeds to you as soon as we receive the funds back from the SBA.
Our email address for questions or concerns is PPP-Forgivenessteam@freedombanknj.com
We strongly encourage you to begin your Forgiveness Application as soon as possible. The SBA requires all PPP Borrowers to submit their Forgiveness Application within 10 months after their “Covered Period” ends. Your Covered Period starts on the date you received your PPP Loan and ends on any date you choose between 8 weeks and 24 weeks. For example, if you received your loan on April 20, 2020 and chose an 8-week Covered Period, your Covered Period ends on June 14, 2020 and your Forgiveness Application must be submitted no later than 10 months later, on April 14, 2021.
We look forward to assisting you with your forgiveness application as soon as possible