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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.
Read More 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.
Read More 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!
Read More This article has answers you need to know about your Economic Impact Payment from the IRS website as of April 8, 2020. For most taxpayers, payments are automatic and no further action is needed. This includes taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.
Read More On Friday, March 27th, the Coronavirus Aid, Relief and Economic Security Act (CARES) was passed. This Act allocates $350 billion in emergency loans to help eligible small businesses who have been affected by the COVID-19 pandemic. Specifically, the Paycheck Protection Program (PPP) provides 100% federally guaranteed loans to eligible employers who maintain their payroll during this emergency. This program will be funded through the Small Business Administration (SBA) and administered by financial institutions. First Volunteer Bank will be participating in this program.
Read More The Cybersecurity and Infrastructure Security Agency (CISA) warns individuals to remain vigilant for scams related to Coronavirus Disease 2019 (COVID-19). Cyber actors may send emails with malicious attachments or links to fraudulent websites to trick victims into revealing sensitive information or donating to fraudulent charities or causes.
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