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. For your convenience, follow this link to see that guidance.
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.
In the meantime, please carefully review the instructions and give consideration to the requirements for forgiveness as outlined in this guidance. We will update you with any changes going forward.
We are here to help you in any way that we can. Stay safe and thank you for placing your trust in First Volunteer Bank!