June is National Homeownership Month. Owning a home is the best investment an individual can make to build their personal wealth. Homeownership provides social stability, builds communities and is a driving force for the national economy.
Many of our PPP borrowers have been asking for information regarding the U.S. Treasury's process to request forgiveness of a PPP loan. Initial guidance regarding PPP loan forgiveness was issued by the U.S. Treasury on May 15, 2020. First Volunteer is reviewing this information and we expect to have a deeper understanding of the requirements in the next several days. Much like the PPP loan application process, expect to see changes in this guidance as the PPP forgiveness application process continues to evolve.