Freedom Bank’s online PPP Forgiveness application, including the SBA’s streamlined Application Form 3508S for loan amounts of $150,000 and under is available. To apply online, please click on the following PPP Forgiveness Link:
PPP Forgiveness Application Link
To log in, you will first need to enter the following:
- Business TIN
- SBA PPP Loan # (can be found in your original PPP Loan documents or by contacting us at the below email address.)
- PPP Loan Amount
If your original PPP Loan was for less than $150,000, please be sure to use the SBA’s new simplified PPP Forgiveness Application Form “3508S” (not the 3508EZ or regular 3508 Form). This will eliminate the need for uploading supporting documents and save time during the forgiveness process. The application takes just a few minutes to complete.
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.
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 June 20, 2020 and chose a 24-week Covered Period, your Covered Period ends on November 18, 2020 and your Forgiveness Application must be submitted no later than 10 months later, on September 14, 2021.
We look forward to assisting you with your forgiveness application as soon as possible. Our email address for questions or concerns is PPP-Forgivenessteam@freedombanknj.com