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President Signs the PPP Flexibility Act into Law on June 5, 2020¶
(Laurel Sykes) - On Friday, June 5, 2020, the President signed into law the Paycheck Protection Program Flexibility Act (the “Act”), which provides relief for several of the more restrictive provisions of the PPP Loan Program.
Continue ReadingMortgage Loans: Why Your Credit Score Matters¶
(Crystal Rem) - June is National Homeownership month, so we are bringing you a series of blog posts to help demystify the home loan process.
Continue ReadingIs Now the Right Time to Refinance?¶
(Crystal Rem) - Rates are low…property values are high…but how do you know when the “right” time is to refinance your mortgage loan? June is National Homeownership month, so we are bringing you a series of blog posts to help demystify the home loan process.
Continue ReadingThe Paycheck Protection Program Loan Forgiveness Saga Continues¶
(Laurel Sykes) - Late Friday night, the SBA issued additional Interim Final Rules that provide guidance on: 1) new SBA loan review procedures (“SBA Loan Review rule”) and 2) loan forgiveness requirements (“Loan Forgiveness rule”) established by the new Paycheck Protection Program Loan Forgiveness…
Continue ReadingThe Current State of Paycheck Protection Program Loan Forgiveness¶
(Laurel Sykes) - You may have heard that the Small Business Administration (“SBA”) released the Paycheck Protection Program Loan Forgiveness Application on Friday, May 15, 2020. Despite detailed instructions that accompany the 11-page application, many questions still remain.
Continue ReadingUpdate on the Paycheck Protection Program (PPP)¶
(Laurel Sykes) - Last week, the SBA made a new $310 billion appropriation of funds available for loans to small businesses under the 7(a) Paycheck Protection Program, which was created by the CARES Act. Under this “tranche”, $60 billion was reserved specifically for community financial institutions…
Continue ReadingThe SBA Paycheck Protection Program: Challenges and Opportunities for Community Banks¶
(Regional Pulse Podcast) - Laurel Sykes (EVP Chief Compliance and Risk Officer), Paul Abramson (EVP Chief Technology Officer, and Eusebio Cordova, Jr. (EVP Chief Credit Officer) continue the discussion on pandemic response. In this episode, they discuss phase 1 and phase 2 of the Small Business Adm…
Continue ReadingThe CARES Act: Retirement Accounts¶
(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which became law on March 27, 2020 as part of the federal government’s response to the COVID-19 pandemic, may affect your retirement account in a number of specific ways. If you participate in your employer’s define…
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The CARES Act: Student Loans¶
(Idea Vault Blog) - If you or your dependents have federally owned student loans, revisions in the CARES Act can help reduce that burden temporarily.
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The CARES Act: Individual Benefits Overview¶
(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act was designed to help Americans as they face the consequences of the COVID-19 pandemic. It includes various benefits for businesses and individuals alike. Below is a brief overview of some of the most important benefi…
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