Fidelity Bank is a Preferred SBA Lender
April 1, 2020
Fidelity Bank is eager to start providing local businesses with the assistance they need thanks to the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) that was recently signed into law! As you know, the Act is aimed at providing financial relief in response to the coronavirus (COVID-19) pandemic. One of the core pieces of the CARES Act is the provision of $349 billion for small businesses through federally backed loans under a modified and expanded Small Business Administration (SBA) 7(a) loan guaranty program called the Paycheck Protection Program (“PPP”). Congress has designed the program to make funds available to qualifying businesses starting April 3rd for small businesses and starting April 10th for independent contractors and self-employed individuals through approved banks like Fidelity Bank. For a more comprehensive resource CLICK HERE.
On April 1st Small Business can start applying for PPP loans. Independent Contractors and Self Employed individuals can begin applying on April 10th. Submit your application with us online at HTTPS://SBA.BANKWITHFIDELITY.COM/. To make the process as simple, easy and fast as possible, please review the verification documents needed here.
CLICK HERE to review the SBA's Frequently asked Questions resource.
For more information, reach out to your Fidelity Banker
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March 20, 2020
Visit our President's Blog to learn more about how we're addressing COVID-19 for our employees and the ways we make banking with us easier for you.
Need to apply for a payment deferral, start by filling out the short form HERE.
To help ensure the safety of our clients and associates, Fidelity Bank is adjusting our daily operations by transitioning clients to our Drive-Thru facilities, ATMs or Integrated Teller Machines for routine transactions effective Saturday, March 21, 2020. While lobby hours will be suspended until further notice, our drive-thru service will remain open normal business hours and we will be offering clients appointments with our bankers to help assist with any complex financial need. You may view our locations HERE. If you would like to schedule an appointment with your banker, please call your local branch or 1-800-220-2497 for assistance.
As part of the critical infrastructure of our community, now is the time for Fidelity Bank to live our mission of being HERE FOR GOOD. To help ease the unexpected burden clients are now facing, management and the board of directors have made several significant decisions to offer relief for individual clients and the community as a whole. This will continue to remain fluid and we remain committed to getting information out to you as fast as possible.
- Effective March 20th Fidelity Bank will offer a 90 day payment deferral option for all loans held by Fidelity Bank. A client must request the deferral and can do that by filling out the short form HERE. Once the form is submitted, it is reviewed for approval. Please note at this time, INVESTOR OWNED MORTGAGE LOANS, are excluded.
- Fidelity Bank credit card clients in good standing are automatically enrolled in a 60 day skip-a-payment program from April 1, 2020 through May 31, 2020 and are not eligible for the above deferment program on their Fidelity Bank credit card. Additional information will be mailed in the next billing cycle.
- Effective March 17th Fidelity Bank will waive any late payment fees and negative credit reporting for loan clients. This will continue through June 2020.
- Effective March 17th Fidelity Bank will waive all early withdrawal penalties on certificate of deposits held at Fidelity Bank through the end of June.
Fidelity Bank champions our core value of community everyday but especially during this difficult time. At this time we are implementing several initiatives:
- There are over 72,000 individuals employed in hospitality and tourism industry, which accounts for about 12 percent of all workers in the region. And while this industry supports an array of income levels, most of the jobs are in low-wage occupations. That is why we are pledging $25,000 to the United Way of Southeast Louisiana Hospitality Cares program in collaboration with our Community Partner, the Louisiana Hospitality Foundation. Hospitality Cares awards emergency grants to eligible employees at businesses running active United Way workplace campaigns in the hospitality industry. Funds provide temporary assistance during times of crisis to cover basic financial needs, including housing, medical, and utility bills.
- All current Community Partner clients will have their annual gift doubled this year. We currently have over 50 non-profits who will receive a boost in their annual gift on their Fidelity Bank anniversary date.
- The P.O.W.E.R. series and meetings will continue via phone conferences or virtual experiences. We have already reached out to many members who are appreciative and grateful for the support.
Review the links below to locate a no fee ATM for our clients.
Be Safe,
The Fidelity Bank Team