Thursday, March 28, 2024

Homepage News

Treasury updates FAQs on PPP

Woman using mobile phone

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.  

Read More »

Mnuchin gives report on PPP program

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 …

Read More »

Oklahoma banks preach patience as Paycheck Protection Program launches

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 …

Read More »

2020 OBA Convention postponed

The 202o OBA Convention planned for May 18-20, 2020 has been postponed in order to protect the health and well-being of our attendees and speakers. We are working our hardest to reschedule the event and updates will be provided as they become available. Thank you for your understanding and please do not hesitate to reach out with questions.

Read More »

Q&A on Paycheck Protection Loan Program

Tax form

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 …

Read More »

Tips for managing your finances during pandemic

Calculator

(As of March 25, 2020) COVID-19 continues to take its toll as it impacts communities in Oklahoma and across the country, and America’s banks are helping to  lead the way and taking steps to respond to the needs of individuals and small business owners directly affected. Note: This support will vary by institution and the customer’s specific circumstances. As a customer, …

Read More »

Compliance Alliance develops pandemic resources for banks

Business continuity planning during pandemics must include compliance considerations at every level and in every department of the bank—the current COVID-19 crisis is no different. Compliance Alliance developed these tools for all banks across the United States – regardless of membership – for the challenging weeks ahead. Here are the bank pandemic planning tools: COVID-19 Essential Critical Infrastructure Worker Credential …

Read More »

SBA approves all 77 Oklahoma counties for disaster relief loan program

In response to COVID-19, all 77 Oklahoma counties have been approved for low-interest disaster loans from the U.S. Small Business Administration. These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. More information is available at SBA.gov/disaster. Stay informed by checking the coronavirus resource page. We …

Read More »

Listen to COVID-19 teleconference call with Oklahoma banks, officials

The OBA hosted a teleconference on Wednesday, March 18, discussing the banking response to the COVID-19 pandemic. The call included representatives from many of our member banks, along with Gov. Kevin Stitt, Sen. James Lankford, State Banking Commissioner Mick Thompson and Oklahoma Secretary of Commerce and Workforce Development Sean Kouplen. The call lasted nearly 50 minutes and includes much information …

Read More »