Saturday, June 12, 2021

OKBanker Direct

Oklahoma Banker Direct

December 2020

  • December 4, 2020

    Banks interested in more PPP loans?

    There is a new round of stimulus packaging being discussed in Washington. Part of it is likely to include some additional PPP-like funding. If this proposal comes to pass, would your bank participate in this new tranche of funds with the same guidelines you have experienced in the previous two tranches of PPP funding? Please take a quick minute (or …

November 2020

  • November 30, 2020

    SBA to release info on PPP, EIDL loans

    Last week, the U.S. District Court for the District of Columbia issued its opinion in a case entitled, WP Company LLC d/b/a The Washington Post vs. the U.S. Small Business Administration, et al. The case involves two actions brought under the Freedom of Information Act regarding disclosure of the names, addresses and precise loan amounts as requested by the plaintiffs. On …

October 2020

  • October 12, 2020

    Zoom call with Sen. Lankford on Wednesday

    The OBA will host a Zoom call with Sen. James Lankford (R-Okla.) at 9:30 a.m. on Wednesday. All those at OBA-member banks are invited to join. Here is the Zoom info: OBA/Lankford meeting Join Zoom Meeting https://zoom.us/j/91284586254?pwd=MTFPWWIyZk1RcGcwb1RER0Jzc3V6Zz09 Meeting ID: 912 8458 6254 Passcode: 204620 For Telephone Audio: +1 346 248 7799 Meeting ID: 912 8458 6254 Passcode: 204620 Contact Adrian, Jeremy or Megan at the …

  • October 8, 2020

    SBA streamlines PPP loan forgiveness for $50,000 or less

    The Small Business Administration tonight released a streamlined loan forgiveness application for Paycheck Protection Program loans of $50,000 or less. The forgiveness application, Form 3508S, includes certifications from the borrower but does not require calculations to be submitted with the application. Applicants must submit documentation verifying forgivable payroll and non-payroll expenses. Borrowers are required to retain the documentation supporting their …

  • October 7, 2020

    SBA begins remitting PPP loan forgiveness payments to lenders

    This Banker Direct is to inform our bankers that SBA has begun remitting PPP loan forgiveness payments to lenders. To ensure successful payment processing, we encourage you to: • Recheck your institution settings within the PPP Forgiveness Platform (e.g. distribution list for email notifications, routing and account number and interest accrual method selection). • Perform a final check of your …

September 2020

  • September 30, 2020

    Forgiveness bill remains on hold in Senate

    Earlier this afternoon, Sen. Kevin Cramer (R-N.D.), the lead sponsor of S. 4117, the Paycheck Protection Small Business Forgiveness Act, sought unanimous consent to have the Senate immediately consider this legislation. Unfortunately, Sen. Ben Cardin (D-Md.), the ranking member of the Senate Small Business Committee, objected to consideration of the bill because the legislation is too narrowly tailored to only …

  • September 25, 2020

    Forgiveness bill on hold

    During the OBA Virtual Washington Visit, which concluded Thursday, bankers in attendance had a number of good meetings with members of the Oklahoma delegation. One of those meetings was with Rep. Markwayne Mullin (R-Okla. 2), and it was excellent. “Markwayne has been of incredible assistance to the Association and to the industry, especially during this COVID-19 crisis,” OBA President and …

  • September 24, 2020

    Where do we stand on PPP loan forgiveness?

    At both the OBA’s Government Relations Council and OBA Board meetings this week, a question came up about PPP loan forgiveness and whether it is something Congress is going to address before the upcoming election. “Probably not,” said the OBA’s chief lobbyist and government relations director, Adrian Beverage. “There are still those who want to guard against fraudulent applications and …

  • September 24, 2020

    FDIC chairperson expresses gratitude for community banks

    In conjunction with the OBA Virtual Washington Visit, we just got off the Zoom meeting with FDIC Chairperson Jelena McWilliams and members of her senior staff. As she wrapped up our meeting, she expressed her gratitude for all that community banks did and have done during the pandemic. “Community banks do have a future,” she told our group. “I want …

  • September 14, 2020

    Don’t forget upcoming events: Hofmeister Zoom call, OBA Virtual Washington Visit

    We wanted to send a start-of-the-week reminder on two OBA events coming soon! First is our Zoom call with Oklahoma Secretary of Education Joy Hofmeister. She will join us at 9:30 a.m. Tuesday (tomorrow). This will be a unique chance to interact with the secretary and get insight on this year’s interesting school situation that affects bankers both personally and …