Our Commitment to Help Commercial Businesses Navigate COVID-19
Fifth Third Bank continues to process SBA Paycheck Protection Program loan applications on behalf of its customers and is now accepting new expressions of interest via its 53.com or Fifth Third Direct platforms.
Please note, given the large number of applications submitted and the limited dollars remaining in the Small Business Administration Paycheck Protection Program, not every applicant will receive funding.
The banking industry is encouraging businesses to work with their current bank. We are eager to assist our customers in submitting an application so that you can continue paying your employees and keep your business running.
Please complete the questionnaire, and a banker will contact you with next steps.
Below are important items needed to begin the process.
To Begin the Process
We will work quickly to submit your application to the SBA, and keep you apprised of their progress. Please note the following important items.
- You must have a Fifth Third Online Banking Profile or be a user of Fifth Third Direct. If you are a customer and do not have an online banking profile or need to update your online credentials, please visit 53.com.
- To begin the application process, login to your online business account through 53.com or Fifth Third Direct.
In addition, please have available:
- Date you started your business.
- Annual revenue.
- Business mailing address.
- Email addresses for owners with a 20% or greater ownership interest.
- Employer Identification Number/ Tax ID Number.
- Payroll records, including: processor records, payroll tax filings, Form 1099-MISC, or income and expenses from a sole proprietorship. Examples include tax documents and payroll processing records.
- If you do not have such records, you must provide other supporting documentation, such as bank records, sufficient to demonstrate the qualifying payroll amount.
- If you have an Economic Injury Disaster Loan (EIDL), please know the dollar amount.
Please note: Additional documents may be required as further guidance is provided by the SBA
We will work hard to process your application as quickly as possible.
Our goal is to get you—our valued customers—the help you need during this extraordinary time.
We want you to know that our commitment to you and the success of your business remains steadfast as you deal with the impact of COVID-19 on your business.
Here’s What We’re Doing to Support Commercial Business Clients
We always appreciate the opportunity to serve our customers in person, and we know that having access to your banker and your money is more important now than ever. In these uncertain times, the health of our customers and our employees is our top priority. To that end, we are putting several temporary measures in place to continue to serve you while doing our part to help stop the spread of the COVID-19 pandemic.
- Our Bank Marts® located inside retailers will remain open, offering the same services and support that they always have. However, their hours have changed to 10 a.m. to 4 p.m., Monday through Saturday, unless limited by the retailer's hours of operation.
- If you need to conduct simple financial transactions, please use our drive-thru services, online or mobile banking solutions, or the Bank's network of approximately 53,000 fee-free ATMs.1
- Branch lobbies are now open to serve customers by appointment only. You can make an appointment by calling your local Fifth Third branch.
- If your branch does not have drive-thru services you can use our location finder to locate a drive-thru near you, or schedule an appointment for branch lobby service by calling your local Fifth Third branch.
- Clients using cash services such as CPS and Cash Vault may continue using these services. If you need to visit a financial center, please utilize a drive-thru or schedule a lobby appointment by calling your local Fifth Third branch.
- Deposits can be completed at a branch using the drive-thru, our ATMs, or via night depository services.
- There is no dollar limit on cash deposits completed at a drive-thru, however cash withdrawals are limited to $20,000. Withdrawals of $20,000 or more must be completed with a lobby appointment.
Payment Processing Services
Our operations teams to continue to process electronic payments. We will continue to monitor all processing and will provide updates as needed.
- As more states transition to "shelter in place," please know that Fifth Third and our operations teams are deemed essential.
- We are closely monitoring anticipated staffing levels and are committed to the prompt processing of all transactions. If the situation changes, an update will be provided
Remember, you can bank anytime, anywhere with Fifth Third Direct® or Fifth Third Online Banking. View your daily cash operations, and get a detailed view of accounts, loans, cards, and deposits, including accounts at other financial institutions.
Commercial Banking Support
Should you have any questions, please contact either your relationship team or call Commercial Support at 866-475-0729. You may also leverage the Fifth Third Direct Contact Us feature that enables secure messaging with the Bank, provides prompt user identification, and enables efficient issue resolution without ever leaving the Fifth Third Direct platform.
We appreciate your understanding. Protecting your health, safety and security are our top priorities.
These times may be unprecedented, but our commitment to serving our customers' banking needs remains the same as it has since 1858.
Additional Tips to Help You and Your Business
Be Transparent About Your Business
Let your customers know you are going through this with them. For example, share on your business’s social media account(s) how much you appreciate your customers, and thank them each day as they continue to support your business.
Be Extra Vigilant Online
During times of uncertainty, it’s natural to seek information and answers through the internet and social media. Unfortunately, criminals will often use that to their advantage. While not specific to Fifth Third, our team has noted the occurrence of phishing—when a data thief impersonates a legitimate person or company via email to bait the recipient into reporting confidential information or gaining unauthorized access to systems. In addition, we have seen reports of malware (malicious software) disguised as a COVID-19 map. Watch for email senders using suspicious or misleading domain names. Inspect URLs carefully (without clicking on the link) to make sure they’re legitimate and not imposter sites.
Follow Credible Advice
To obtain reliable information, stick to credible resources like the Centers for Disease Control (www.cdc.gov), National Institutes of Health (www.nih.gov), World Health Organization (www.who.int) and other well-known local and national news reporting agencies.
Use Digital Tools When You Can
Make an appointment to talk to your banker when you have a complex situation. But save time and use online banking services as often as you can.
As always, thank you for choosing Fifth Third.