Learn the Benefits of an ADU
March 24, 2022
Free Webinar: Learn How to Pay for Your New Accessory Dwelling Unit!
RCU has partnered with the nonprofit Napa Sonoma ADU Center to provide a unique loan product you can use to finance the building of an ADU on your property.
An ADU construction loan can:
- Enable you to access more of the equity in your property than other financing options.
- Example 1
- Example 2
- Example 3
- Create a way to generate an additional income stream.
- Secure housing for family members.
- Let you downsize for retirement and get rental income from your house.
Interested in learning more? Come to our free webinar next week!
Tuesday, March 29, 2022
6:00–7:00 p.m.
PPP Forgiveness Application Deadline
Congress passed The Economic Aid Act which changed the deferment period from 6 months post covered period to 10 months post covered period. For example, if your covered period ended June 30, 2021, under the new guidelines the earliest your first loan payment wouldn’t be due until April 2022, and you have until then to request forgiveness. Please use the following calculation to help you identify when your forgiveness will be due:
- PPP borrowers may select a covered period anywhere from 8 weeks to 24 weeks.
- RCU is automatically calculating your loan due date based on a 24-week covered period, if you intend on using a shorter covered period please inform us immediately as this will impact your due date.
- Your correct deadline will be reflected in your online banking account.
If all or part of your PPP loan is not forgiven, your first loan payment will be due the first of the following month after a decision is made by the SBA.
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