Coronavirus COVID-19 Important Information

Updated – January 3, 2022

Thank You for Being a Valued Freedom Bank Customer.

As the effects of the Coronavirus COVID-19 continue to develop, Freedom Bank is closely monitoring the latest reports from the Centers for Disease Control (CDC) and the World Health Organization (WHO). As we monitor these developments, we are taking a number of precautionary steps to protect our customers and employees.

All Paycheck Protection Loans are now Eligible to apply for forgiveness. PLEASE APPLY TODAY.

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 via our Digital Application Link. 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 to avoid any delays due to high application volume. 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 February 5, 2021 and you chose an 8-week Covered Period, your Covered Period ends on April 5, 2021 and your Forgiveness Application must be submitted no later than 10 months later, on February 3, 2022.  If you choose a 24-week Covered Period, your Covered Period ends on July 22, 21 and your Forgiveness Application must be submitted no later than 10 months later, on May 18, 2022. 

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

You can leave your application and resume at any time. Document uploads for all information for loans over $150,000 will be available.   Depending on the circumstances of your request, you may need to submit additional documentation as specified in the instructions provided by the SBA. You can download the instructions directly from the link when available. We encourage you to review them prior to your submission. 

If your loan amount is over $150,000 please complete form 3508. Please be sure to complete the “PPP Schedule A Worksheet”, before you begin the submission, as you must use the information from the worksheet to complete various sections of the application. The worksheet provides specific information regarding Employee Cash Compensation, Average Full Time Equivalency (FTE) and Salary/hourly Wage Reduction. You can download a copy of the worksheet and instructions for completing it directly from the above link.

In addition to our application, the payroll documentation which will be required for submission for this program is: 

  • Payroll Register(s) for the entire year of 2019 and 2020 Covered Period
  • Forms 941 and 940 for the entire year of 2019 and 2020 Covered Period
  • Your payroll provider’s PPP Report for the entire year of 2019 and 2020 Covered Period (if available)
  • Completed PPP Schedule A Worksheet
  • Documentation for other eligible expenses may also be provided to reach the optimum amount of forgiveness you will qualify for. Payroll spent will qualify for 60% and other eligible expenses can make up the other 40%.
  • If you a are self-employed individual, independent contractor or sole proprietor who had no employees at the time of your PPP loan application, you will need to provide a copy of your 2019 Form 1040 or 1040 SR Schedule C (“Profit or Loss From Business”) and your 2020 payroll information for the covered period.


NOTE: The above documents are not required if you are submitting the SBA streamlined Application Form 3508S, however you must retain all records necessary to prove compliance with PPP rules for 4 years for employment records and for 3 years for all other records. SBA may request additional information to evaluate eligibility for the PPP loan and for loan forgiveness, and failure to provide information requested by the SBA may result in a determination that the Borrower was ineligible for the PPP loan or in a denial of the loan forgiveness application. 

We encourage you to discuss any questions you may have regarding completion of the application with your Accountant or Payroll Service Provider.

A team member will communicate with you if the information is incomplete or any questions arise. Freedom Bank will have 60 days to complete the process – we will let you know once completed and the application has been submitted to the Small Business Administration (SBA). The SBA will have 90 days to determine the amount of the forgiveness. We will notify you promptly upon receipt of the same.

We appreciate your business and look forward to working with you.

Please feel free to contact us with any questions at:


What to Expect When You Visit a Branch location:

All branches are operating under our normal business hours. Monday – Friday 8:30 AM to 5 PM.  Saturday’s 9 AM to 12 PM depending on branch location. Please visit our branch locations page for a listing of branch hours https://www.fbnj.com/locations/

We encourage you to access your account from home 24/7 using Freedom Bank’s online banking or the Freedom Bank mobile app to view transactions, check balances, move money, and deposit checks.

The health and safety of our customers and employees remain our top priority. Fully vaccinated customers and employees are no longer required to wear a mask or social distance.

The CDC recommends that individuals who are not fully vaccinated should continue to wear a mask and following the 6 foot distancing requirement.

If you would feel more comfortable with a Freedom Bank employee who is assisting you to wear a mask, we would be happy to put one on for you.

Please note, if you feel sick or have been exposed to someone with coronavirus, we ask that you please do not visit a branch.

If you prefer to bank electronically, we have you covered.  You can use online or mobile banking to conduct most of your banking needs, from paying bills online to making a mobile deposit.  If you are not signed up, call 201-599-3000 and a representative will sign you up today!

We will continue to monitor the situation and its progression closely to ensure we are able to safely support our customers and communities.

For additional information about COVID-19, get the latest report from the Centers for Disease Control at cdc.gov or your local health department website. 

Matthew Carcich

Our branch offices will be closed in observance of Memorial Day on Monday, May 30th, 2022. Access to online and mobile banking is available 24/7.