OKLAHOMA CITY — Oklahoma banks have worked around the clock since the Paycheck Protection Program was unveiled less than two weeks ago, helping disburse BILLIONS of dollars and TENS OF THOUSANDS of loans to the state’s small businesses. According to the Department of the Treasury, Oklahoma banks as of Tuesday had already funded 26,451 loans worth $4.01 billion since the …

There I was, minding my own business, with thoughts of the upcoming anniversary of my heart attack. Happy thoughts they were because I was so very blessed to have survived it. That memory brought back feelings of gratitude and praise that I lived to celebrate my 74th birthday. It was the best one ever, as you might imagine. Now I’m …

We’re almost a week into the process of implementing the CARES Act, and still there seem to be more questions than answers. “We have been trying to keep our member banks up to date on various aspects of the PPP (Paycheck Protection Program),” said Adrian Beverage, OBA’s chief of staff. “It just seems like once we think we have an …

The Treasury Department recently updated its frequently asked questions on the Small Business Administration’s Paycheck Protection Program to address several questions raised by bankers. You can download the FAQs by clicking here.  

The OBA just got off the phone with Treasury Secretary Steve Mnuchin. He said directly: 1. Setting up this program has taken a monumental effort on the part of Treasury and the SBA. 2. More than 1,200 banks are already in the program and making PPP loans now. 3. Bank directors ARE ELIGIBLE to participate in the PPP process! It …

OKLAHOMA CITY — With the COVID-19 pandemic impacting communities and businesses across the state, Oklahoma banks are focused on helping as much as they can. The Paycheck Protection Program will offer some relief to small businesses in Oklahoma as it launches on Friday, April 3. Oklahoma bankers, however, do ask for patience from the public as the program begins. Financial …

In This Issue… OBA weekly call with bankers concerning COVID-19 response available for download Treasury releases assistance for small businesses, information for lenders SBA Form 750 available for bankers Interested in leading our Emerging Leaders? Let us know … TODAY! OBA education corner …

Who can get a loan? Businesses, including self-employed and independent contractors, nonprofits (501 C3), veterans’ organizations (501 C19) and tribal business concerns with less than 500 employees. Where do I apply? Any federally insured depository (bank or credit union). How much can I borrow? Up to $10 million but not more than 2.5 times average monthly payroll. How much will …

Federal Deposit Insurance Corporation Chairman Jelena McWilliams addressed the Financial Stability Oversight Council on Thursday, highlighting the agency’s ongoing efforts to provide the necessary flexibility to both banks and their customers in response to the coronavirus (COVID-19) pandemic. “I want to underscore that our banks are safe,” McWilliams said. “Your FDIC-insured deposits are safe. […] The FDIC was borne out …

In This Issue… SBA webinars filled … but more information is available Federal Reserve announces new measures to support economy FBI sees rise in fraud schemes related to pandemic OBA’s COVID-19 teleconference call recording available for download OBA 2021 Views & Vistas Photo Contest deadline approaching OBA education corner …