At ESSA Bank & Trust, we want to keep our valued customers informed. On this page you will find late-breaking news related to COVID-19 and its impact on you, your business, and your valued relationship to us.

PPP Loan Forgiveness

To help you prepare for the forgiveness application process, please familiarize yourself with the applications and instructions released by the SBA. As a PPP loan customer of ESSA Bank & Trust, you will be contacted with further instructions as to how to submit your application and supporting documents to us for processing.

For loans $150,000 or less:

• PPP Loan Forgiveness Application Form 3508S (revised 1/19/2021)

"EZ" application (see included instructions for requirements):

• PPP Loan Forgiveness Application Form 3508EZ (revised 1/19/2021)

General application:

• PPP Loan Forgiveness Application Form 3508 (revised 1/19/2021)

Please review ESSA Bank and Trust's PPP Loan Forgiveness Information document for details on loan forgiveness basics, the loan forgiveness process, eligible and non-eligible payroll costs, and additional items to keep in mind.

For more information, please consult the following from the SBA:

• How to Apply for PPP Loan Forgiveness (November 2, 2020)
• FAQ on PPP Loan Forgiveness (October 13, 2020)
• PPP Home Page

PPP Guidance as of 3/3/2021

The Paycheck Protection Program (PPP) reopened January 11, 2021 for new borrowers and certain existing PPP borrowers. Learn more at the U.S. Department of Treasury: SBA and Treasury Announce PPP Opening; Issue New Guidance

The latest round of COVID-19 relief authorizes more than $900 billion in economic aid to small businesses and consumers. Included in the legislation is an additional $284.6 billion in Paycheck Protection Program (PPP) funding for loans to small businesses, including for borrowers who have previously received a PPP loan.

While based on similar principals as the first round of PPP funding under the CARES Act, the second round of PPP has some key differences as summarized below.

Limited Eligibility for Second Draw PPP Loans:
The Second Draw of PPP loans are available to borrowers that previously received a PPP loan. Your first PPP Loan is not required to have been with ESSA. Second Draw PPP loans are limited to businesses that:

• Employ no more than 300 employees (down from 500) or meet an alternative size standard;
• Have used the entire amount of their first PPP loan or will use such amounts; and
• Had gross receipts during Q1, Q2 or Q3 2020 that were at least 25 percent less than the gross receipts from the same quarter in 2019 (applicants may use Q4 2020 if they apply after January 1, 2021). If the business was not in operation for a portion of 2019, then the comparable quarters may be different. The limitations put in place for Second Draw loan eligibility, as explained in this section, do not apply to first-time borrowers.

Maximum Loan Amount:
Borrowers of a Second Draw PPP loan have an option to calculate the maximum loan amount by multiplying the borrower's average total monthly payroll in (a) the one-year period prior to the date on which the loan is made, or (b) calendar year 2019, by 2.5x. The maximum loan amount has been reduced from $10 million in the first round to $2 million. Similar to the first round, seasonal employers calculate their maximum loan amount differently. Note that the $2 million cap does not apply to first-time borrowers, that cap remains at $10 million.

Maximum Loan Amounts for the Hospitality Industry:
Borrowers of a Second Draw PPP loan that have an NAICS Code beginning with 72 (typically restaurants and hotels) are permitted to use a 3.5x multiplier of their average monthly payroll costs to calculate their maximum loan amount, subject to the $2 million cap.

Revenue Reduction and Payroll Cost Calculations:
The SBA has provided guidance for calculating revenue reduction and payroll costs, and the required documentation to support such calculations, in order to determine the eligibility and amount of a Second Draw PPP Loan. For customers seeking a second PPP loan, please review the following document: Second Draw Paycheck Protection Program (PPP) Loans: How to Calculate Revenue Reduction and Maximum Loan Amounts Including What Documentation to Provide.

For sole proprietors and other borrowers that file IRS Form 1040, Schedule C, key provisions of the SBA's Interim Final Rule (IFR) as of March 3, 2021 are:

• The new IFR includes a revised loan calculation formula for Form 1040, Schedule C sole proprietors, independent contractors, and self-employed individuals using gross income instead of net income, as advocated by ICBA.
• The rule spells out the calculation for these borrowers in two ways: those with no employees and those with employees.
• Schedule C filers using gross income to calculate loan amounts with more than $150,000 in gross income will not automatically be deemed to have made the statutorily required certification concerning the necessity of the loan request in good faith. These borrowers may be subject to a review by SBA of their certifications.
• The rule also sets aside $1 billion for PPP loans to businesses in this category that do not have employees and are located in low- or moderate-income areas.
• The higher loan amounts for Schedule C borrowers apply to applications filed after the rule’s effective date. Loan amounts cannot be increased once the loan is disbursed to the borrower, so lenders and borrowers may wish to cancel loans that have not yet been disbursed and reapply using the new Schedule C application form.
• The rule also includes provisions on small-business owners delinquent on their federal student loans or with prior non-fraud felony convictions and non-citizen small-business owners who are lawful U.S. residents.

Apply for the Paycheck Protection Program (PPP)

We are now accepting PPP loan applications from customers in our market area. Please see the following two documents for reference:

1. Required Supporting Documents
2. How to Calculate the Maximum Loan Amount

After reviewing the above documents, please use the following link to establish an account and begin your application with ESSA:

** PPP Application Portal **

Note: Current PPP loan applicants with ESSA should continue with their loan forgiveness process through their assigned Relationship Manager.

Consumer Payment Relief

ESSA realizes that many of our customers may be struggling to pay their loans during these unprecedented times. We are available to discuss how we can assist our Mortgage, Home Equity, Auto, and Consumer Loan customers. Please click here to learn more.

Hours of Operation

Please see the details below for our current hours of operation at each of our locations. Also note that until further notice, in accordance with Pennsylvania state regulations, everyone entering our facilities must wear a face mask.

1. What are your current hours and days of operation?

   Please find your local branch in the charts below. As of July 27, branch lobby access is by appointment only.

   Drive-Up Access & Branch Hours by Appt:
   Mon-Fri 9am-5pm
   Sat 9am-Noon, Sun Closed
   11 N Main St, Alburtis, PA 18011
   1881 Rt 209, Brodheadsville, PA 18322
   75 Washington St, E Stroudsburg, PA 18301
   5120 Milford Road, E Stroudsburg, PA 18302
   2415 Park Ave, Easton, PA 18045
   744 Main St, Stroudsburg, PA 18360
   2826 Rt 611, Tannersville, PA 18372
   1430 Jacobsburg Rd, Wind Gap, PA 18091

   Drive-Up Access & Branch Hours by Appt:
   Mon-Thurs 9am-4pm, Fri 9am-5pm
   Sat 9am-Noon, Sun Closed
   8045 W Chester Pike, Upper Darby, PA 19082

   Branch Hours by Appt (No Drive-Up Available):
   Mon-Fri 9am-5pm
   Sat-Sun Closed
   600 Hamilton St, Allentown, PA 18101
   358 S Walnut St, Bath, PA 18014
   418 W Broad St, Bethlehem, PA 18018
   76 S Main St, Nazareth, PA 18064

   Drive-Up Access & Branch Hours by Appt:
   Mon-Fri 9am-5pm
   Sat-Sun Closed
   249 Rt 940, Blakeslee, PA 18610
   975 Rt 390, Cresco, PA 18326
   6302 Rt 309, New Tripoli, PA 18066

   Drive-Up Access & Branch Hours by Appt:
   Mon-Thurs 9am-4pm, Fri 9am-5PM
   Sat-Sun Closed
   227 W Lancaster Ave, Devon, PA 19333
   354 W Lancaster Ave, Haverford, PA 19041
   48 W Marshall Rd, Lansdowne, PA 19050

   Branch Hours by Appt (No Drive-Up Available):
   Mon-Fri 9am-4:30pm
   Sat-Sun Closed
   300 Mulberry St, Suite 100, Scranton, PA 18503
   1065 Highway 315, Wilkes Barre, PA 18702

2. Which of your branches have drive-thrus?

   The following 15 branches have drive-up access. See our Locations page for local phone numbers and directions.

   • 11 N Main St, Alburtis, PA 18011
   • 249 Rt 940, Blakeslee, PA 18610
   • 1881 Rt 209, Brodheadsville, PA 18322
   • 975 Rt 390, Cresco, PA 18326
   • 227 W Lancaster Ave, Devon, PA 19333
   • 75 Washington St, E Stroudsburg, PA 18301
   • 5120 Milford Road, E Stroudsburg, PA 18302
   • 2415 Park Ave, Easton, PA 18045
   • 354 W Lancaster Ave, Haverford, PA 19041
   • 48 W Marshall Rd, Lansdowne, PA 19050
   • 6302 Rt 309, New Tripoli, PA 18066
   • 744 Main St, Stroudsburg, PA 18360
   • 2826 Rt 611, Tannersville, PA 18372
   • 8045 W Chester Pike, Upper Darby, PA 19082
   • 1430 Jacobsburg Rd, Wind Gap, PA 18091

3. Do I need to schedule an appointment?

   As of July 27, 2020, appointments should be made for services that cannot be conducted using drive-up service, online banking, mobile banking, ATM, remote deposit or night deposit. Please call your local branch and schedule an appointment to:

   • CD maturity/term changes/closeouts
   • Opening or closing an account
   • Signature Guarantee (need a manager to perform)
   • Change orders
   • Change of signers for business accounts
   • Notification of fraud
   • Access to a safe deposit box
     
     

   We strongly encourage you to use ESSA Bank & Trust’s digital banking solutions for 24/7 self-service account access. Our digital banking solutions provide access to your accounts utilizing our ESSA Mobile app or online banking. Either solution provides you the ability to view transactions, check balances, transfer funds, deposit checks (available through the mobile app), schedule payments and so much more. To learn more about our online & mobile banking solutions, please visit: https://essabank.com/personal/online/

4. How do I schedule an appointment?

   Please call your either your local branch, (570) 421-0531, or (855) 713-8001 (toll free).