Click Here for the PPP Forgiveness Portal
Click Here for the legacy Landmark Bank PPP Forgiveness Portal

APPLYING FOR PPP LOAN FORGIVENESS

As you may know, the SBA, in consultation with the Department of the Treasury, is providing guidance for borrowers concerning the forgiveness of their Paycheck Protection Program (PPP) loans. We encourage you to read the information thoroughly and contact a Fidelity Banker if you have any questions. Fidelity Bankers can be contacted specifically about the PPP by calling (610) 588.9266 Monday – Friday. Or, you can email pppforgivenesssupport at fddbank dot com

Some clients may qualify for forgiveness by using the 3508-S application. 

You may use this application when:

• Should be equal to or less than $150,000
• Expedited forgiveness process
• Borrowers are exempt from reductions in loan forgiveness amounts based on reductions in full-time equivalent (FTE) employees or in salaries or wages
• Requires fewer calculations and less documentation for eligible borrowers

You may NOT to use the 3508-S application when:

• Loan amount exceeds $150,000
• A borrower that, together with its affiliates received PPP loans totaling $2 million or more.

Please watch this brief tutorial on the 3508-S application.

How to guide for businesses with a loan amount under $50,000 presented by Kevin McCormick, Vice President & Business Relationship Manager

Please watch this brief tutorial on the 3508EZ application.

How to guide for businesses with a loan amount over $50,000 presented by Angelo J. DeCesaris, Senior Vice President & Regional Commercial Group Leader

Several weeks ago, changes were made to the PPP loan forgiveness process including an extended coverage period, lower requirements, safe harbors from reductions, and more.

What does this mean?

• EASE OF USE. You have more time to apply for forgiveness. 
• GREATER FLEXIBILITY. The government just gave you 24 weeks to spend 8 weeks of payroll
• MORE TIME. Most clients need to wait until they file the quarterly 941’s as of June 30. You’ll need that documentation to apply.  Plus, you don’t have to make any payments for a total of 10 months.

For a list of FAQs on the PPP forgiveness process, please click here.