OKBanker Direct

May 2021

• May 4, 2021

  Paycheck Protection Program funding has been exhausted

  Breaking news from the ABA: The Small Business Administration has just informed trade associations that Paycheck Protection Program funding has been exhausted and that the PPP application portal will stop accepting applications for loans from most lenders. SBA said that it has reserved approximately $6 billion in funding for previously submitted loan applications subject to hold codes that have yet …

March 2021

• March 31, 2021

  Nominating Committee for OBA first vice chair selected

  Memorandum To: All OBA-Member Banks Re: Nominating Committee for First Vice Chair Pursuant to Section 6.3 of the By Laws of the Oklahoma Bankers Association, OBA Chairman Rick Walker is required to appoint four current board members to serve on the Nominating Committee for the office of first vice chair. The Committee is chaired by the Immediate Past Chair, which …

August 2020

• August 17, 2020

  OBA issues banks education credit

  While 2020 is only about half over, it has definitely been memorable. Unfortunately, it included the cancellation of our Annual Meeting and Convention. You may recall your 2020 membership dues included a registration for the Convention. While we missed seeing you at convention, we still want to make things right. To do so, we have created a $500 credit for …
• August 7, 2020

  Forgiveness platform user guide released

  The Small Business Administration has released its platform user guide for forgiveness applications, and the forgiveness portal will be up and running on Monday. Several bankers have called us and said they are ready to start submitting the forgiveness applications they’ve already processed on Monday, especially those working with companies like OBA’s endorsed vendor Abrigo, where approved applications have been …

July 2020

• July 30, 2020

  Contact your congressional delegation about PPP loan forgiveness

  Here’s what your OBA is currently doing to help your small business customers: PPP Loan Forgiveness of all PPP loans less than $150,000 Over the past 10 days, the OBA has been working with our congressional delegation, asking it to co-sponsor two bills, one in the Senate (S. 4117) and now one (H.R. 7777) in the House of Representatives. So …
• July 22, 2020

  Contact your senators: Ask them to co-sponsor PPP forgiveness bill

  In last week’s OBA Update, we asked our bankers to contact Sen. Inhofe and Sen. Lankford to sign-on as co-sponsors to S. 4117. This bill would all small business that received PPP loans less than $150,000 to have blanket forgiveness. Loans of this size account for 86% of all PPP loans, but the total dollar amount of these loans make …
• July 15, 2020

  OBA needing bank info on Oklahoma Business Relief Program

  The OBA is the process of collecting information from banks concerning the Oklahoma Business Relief Program. Specifically, we need to know the total number of applications your bank currently has on hand that were not submitted before the portal closed. We’d appreciate the info as soon as possible. Please email the OBA’s Adrian Beverage at adrian@oba.com, or reply to this …
• July 15, 2020

  Special message from OBA President/CEO Roger Beverage

  Longtime OBA President and CEO Roger Beverage filmed a special video webcast message to share with all Oklahoma bankers. It can be viewed by clicking through the link below. If you do not have audio and/or video capabilities on your computer, you can download the transcript of his message by clicking here (.pdf).
• July 14, 2020

  SBA releases update to Procedural Notice

  Last night, the Small Business Administration released an update to the Procedural Notice covering PPP Lender Fee Payments and the 1502 Reporting Process. This covers several updates and clarifications, but the largest item is it provides details on the how the monthly reporting will work on PPP loans. As a reminder, the initial 1502 report on your PPP loans was …
• July 9, 2020

  Questions arise about Tulsa and the Creek Nation

  In a 5 – 4 decision, the United States Supreme Court has thrown into question a number of issues, including wrongful criminal convictions, property and sales taxes, along with question about bank collateral. The decision, written by Justice Neal Gorsuch, means that a large area of Eastern Oklahoma is still an American Indian Reservation and, as such, casts doubt on …