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Fulton Bank

CARES ACT & Paycheck Protection Program

PPP Loan Forgiveness: Information and Resources

We are beginning to send invitations for Paycheck Protection Program (PPP) forgiveness applications and want our customers to be as prepared as possible.

Important Information

  • The only way to apply is through the email you will receive
  • We will pre-fill your application with the following information:

    •  SBA Loan Number
    • Disbursement Date
    • Amount
    • Lender PPP Loan Number
  • The SBA recently released an application for forgiveness of loans $50,000 or less. We are working to incorporate this new application into our forgiveness process. 

If you have any questions regarding the forgiveness process, or your application, contact us. Your inquiry will be assigned to a PPP Specialist and he or she will respond within two business days. 

Overview of ppp forgiveness process:

Paycheck Protection Program Debt Forgiveness Steps graphic

Instructions and Documents to help you prepare:

Three Phases of the Process:

    Phase 1: Loan forgiveness application Phase 2: Lender review and loan forgiveness decision Phase 3: SBA review and remittance of forgiveness funds
What it is
Formal submission of the loan forgiveness application. Formal review by Fulton Bank of the loan forgiveness application and required supporting documents. SBA will, subject to any SBA review of the loan or loan application, remit the appropriate forgiveness amount to the Lender.
Borrower has up to 10 months from the end of your covered period (typically 8 weeks or 24 weeks from funding) to apply for forgiveness; however, we encourage you to complete your application within 60 days from the date you receive our invitation to apply. Fulton Bank has up to 60 days to review the application and issue a loan forgiveness decision to the SBA. SBA has up to 90 days from the receipt of Fulton Bank’s loan forgiveness decision to remit the requested forgiveness amount to Fulton Bank.
What you do
Complete the appropriate loan forgiveness application. Nothing unless Fulton Bank requires additional information or identifies incomplete information on your application. Nothing unless you disagree with Fulton Bank’s loan forgiveness decision in which case you have 30 days to submit a request to the SBA to review Fulton Bank’s decision. An escalation process is still being finalized by the SBA for these cases.
What we do
Fulton Bank will send a "loan forgiveness application" invitation email to PPP borrowers to initiate the forgiveness process. Upon receipt of your completed application, Fulton Bank will email confirmation of receiving your application. Review application and supporting documents for completeness. Issue a loan forgiveness decision based on the calculations of payroll and non-payroll when entered in to the application. Fulton Bank notifies you of this decision. Nothing unless the SBA requires additional information or supporting documents for a particular loan. Fulton Bank notifies you of the forgiveness amount paid by the SBA to Fulton Bank.
What the SBA does
Nothing in this phase. Nothing in this phase. Remits requested loan forgiveness amount to Fulton Bank. Reserves right to randomly review any PPP loan in detail.
Tools & Resources

For broader information on PPP, visit:

Previous Updates 

Update from June 17

On Wednesday, June 17, 2020, the SBA, in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP Flexibility Act of 2020, signed into law by President Trump on June 5, 2020.  In addition to revising the full forgiveness application, SBA also published a new EZ version of the forgiveness application that applies to borrowers that:

  • Are self-employed and have no employees; OR
  • Did not reduce the salaries or wages of their employees by more than 25%, and did not reduce the number or hours of their employees; OR
  • Experienced reductions in business activity as a result of health directives related to COVID-19, and did not reduce the salaries or wages of their employees by more than 25%.

The EZ application requires fewer calculations and less documentation for eligible borrowers.  Details regarding the applicability of these provisions are available in the instructions to the new EZ application form.

Both applications give borrowers the option of using the original 8-week covered period (if their loan was made before June 5, 2020) or an extended 24-week covered period.  These changes will result in a more efficient process and make it easier for businesses to realize full forgiveness of their PPP loan.

We are not currently accepting applications for forgiveness but are finalizing our process with this new information. We will update this webpage and notify customers who have a PPP loan with us via email when we can begin accepting forgiveness applications.

Update from May 18
  • SBA extended the repayment date for the safe harbor to May 18, 2020, to give borrowers an opportunity to review and consider FAQ #46. Borrowers did not need to apply for this extension. This extension was promptly implemented through a revision to the SBA's interim final rule providing the safe harbor.
  • Final Rule for loan increases, including official guidance on loan increases for seasonal employers