Rep. Frank Lucas (OK-District 3) released the following statement today after the Federal Reserve Bank of Boston announced on Monday the Main Street Lending Program is fully operational. The MSLP will support small and mid-sized businesses, and their employees, that were in good financial standing before the pandemic by ensuring credit flows to businesses in need. The goal is to …

In This Issue… Second phase of Oklahoma Business Relief Program slated to start on July 14 SBA releases public data on Paycheck Protection Program Secret Service, Department of Labor, release info on unemployment insurance fraud Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees – deadline is next week! OBA education corner …

ABA President and CEO Rob Nichols recently shared an update and info to all bank CEOs on the Paycheck Protection Program.   To all bank CEOs – I’m writing to provide a quick update on the SBA’s Paycheck Protection Program, which both expired and was revived last week. Data Released. In response to calls from Congress for greater transparency, the …

The Oklahoma Department of Commerce announced a second phase of the Oklahoma Business Relief Program, which will begin later this month. Phase II of the OBRP is tentatively scheduled to begin on July 13. The Department of Commerce will give at least five-days notice before the start date. Another $50 million has been designated for use in the Program. Developed …

Earlier this afternoon, the U.S. House approved the previously passed Senate measure to extend the Paycheck Protection Program through Aug. 8. The extension, which was approved in both the Senate and House by unanimous consent, also decouples PPP authorization from the 7(a) program, eliminating the risk that the regular 7(a) program could shut down when the PPP hits its authorization …

The U.S. Senate approved an extension of the Paycheck Protection Program late last night. The PPP was set to expire at the end of Tuesday. The Program will still be paused following the Senate’s action as the U.S. House must also approve the extension. Once approved, the new deadline would be extended until Aug. 8. There is approximately $130 billion …

In This Issue… Regulatory agencies propose new, revised Q&As on flood insurance Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees Salary survey deadline this week 2021 Oklahoma Views & Vistas Calendar available for discounted price through Wednesday OBA education corner …

The Paycheck Protection Program (PPP) cutoff is June 30. According to the SBA’s Dustin Allen, it will be a hard and fast cutoff at Close of Business on June 30. If an application has not been input in to ETRAN and reached the approval stage by that time it will not be given consideration. Allen urges bankers to make sure …

We have been hearing from some of our colleagues in other states about a few issues that seem to have popped up that relate to the COVID-19 virus outbreak and the related Paycheck Protection Program initiative. We wanted to check with our banks as to whether these or any other issues may have come to your attention or may be …

Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program offers vital funding for businesses that have suffered revenue loss due to the pandemic.   Gov. Kevin Stitt has designated $50 million in Federal CARES Act funds for the program.  Starting Monday, June 29, Oklahoma businesses can request to apply for OBRP …