Builtwell Bank Updates & Articles

First Volunteer Bank Provides More Than 50 Million to Support Small Businesses

First Volunteer Bank has been working all hours to provide loans through the Small Business Administration's Paycheck Protection Program (PPP), approving 556 loan applications totaling $50,367,081.12 in just one week to help our local businesses save jobs.

First Volunteer Bank Named in The Top 25 Best Performing Community Banks Nationwide by ICBA

PPP Forgiveness Guidance

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.

Tennessee Banks Provide More Than $4.7 Billion To Small Businesses through Paycheck Protection Program

Tennessee banks of all sizes have been working around-the-clock to provide loans through the Small Business Administration's Paycheck Protection Program (PPP), processing 19,074 applications totaling $4,742,194,968 as of April 13 according to the SBA.

Tennessee Bankers Advise Patience as the Paycheck Protection Program Launches

As the novel coronavirus (COVID-19) disease continues to impact communities across the country, Tennessee banks are working around the clock to assist borrowers, including through the new Coronavirus Aid, Relief, and Economic Security (CARES) Act. Despite the revised guidance for the program that is set to launch Friday, April 3, many banks still await final approval to make these loans. Tennessee bankers ask for patience from the public as the program begins.

Exploiting the Coronavirus: Beware of Fake COVID-19 Stimulus Packages

During these challenging times, please continue to be aware of suspicious calls, emails, or text messages regarding your personal information. Cybercriminals are willing to exploit every aspect of the Coronavirus crisis. The recent plan of a US Stimulus package is just one more thing they can use to their advantage. Watch out for phony emails promising information on how the stimulus package will benefit you. They could appear to be from the IRS, government officials, or your HR Department. Some of these fake emails may even offer access to the money right away. Don’t fall for it!