SBA Paycheck Protection Program
Dedham Savings is pleased to participate in the SBA’s (Small Business Administration) Paycheck Protection Program (PPP) as part of the government’s $2 trillion economic relief package known as The CARES Act.
Updated August 11, 2020
PPP LOAN FORGIVENESS PORTAL
In order to create as simple and streamlined a PPP Loan Forgiveness process as possible, all Dedham Savings PPP Loan Borrowers will submit their PPP Loan Forgiveness Applications, along with required supporting documents, via the Loan Forgiveness Portal. You can access the Loan Forgiveness Portal via the link below. We recommend viewing the Portal Video Tutorial and reading the information below before accessing the Portal. (NOTE: the PPP Loan Forgiveness Portal is only for Borrowers who received their PPP Loan from Dedham Savings.)
Please review the following helpful information before accessing the Portal:
Logging into the Portal:
- To access the portal, all PPP Borrowers will need their EIN or SSN (associated with your original PPP Loan request) and SBA Loan number in order start the process.
- As a security step you will also need to verify your loan amount before filling out the portal applications.
- If you need assistance in obtaining or confirming any of the information above please email the Bank at: [email protected]. You will receive a secure email response with the necessary information.
Filling in and Completing the PPP Loan Application:
- Once inside the Portal and as part of completing the PPP Loan Forgiveness Application, Borrowers will need to know the Date of Funding for their PPP Loan.
- You will then be asked to fill out the portal application with loan information such as your date of disbursement, Payroll Documentation, FTE (Full-Time Equivalent) Documentation, and Nonpayroll Documentation.
- You should download the Instructions for the Forms 3508EZ and 3508 at the SBA link at the bottom of this page to familiarize yourself with the fields and requirements.
- All questions you may have regarding the PPP Loan Forgiveness Application and how to properly determine data to be entered in the PPP Loan Forgiveness Application will be able to be answered through the “Ask an Accountant” feature on the Portal.
- After submitting the Loan Forgiveness application through the Portal, Dedham Savings will work to review the application in a timely manner.
- You may log in to the Portal, using a Username and Password you create, at any time to see the status of your PPP Loan Forgiveness Application.
Please review the Forgiveness Portal Borrower Training Video provided by Lenders Cooperative:
Dedham Savings is pleased to announce our PPP Loan Forgiveness Portal is now live and can be accessed below:
Detailed information about PPP Loans and PPP Loan Forgiveness can be found in the links below. The Forgiveness Form Instructions, and the forms themselves (3508EZ and 3508), are contained within the SBA PPP Loan Information link for informational purposes only. All Borrowers who received a PPP Loan from Dedham Savings will apply for PPP Loan Forgiveness by completing and submitting the application forms electronically via the secure Loan Forgiveness portal.
This information is provided as a courtesy and should not be considered legal or accounting advice. Nor should this information be relied upon as being complete regarding aspects of the SBA PPP loan program. It is your obligation, as the borrower, to understand the SBA’s rules. Other eligibility requirements may apply.
As always, please call our Contact Center at (781)-329-6700 or e-mail us at [email protected] if you have additional questions.