Monday, February 6, 2023

OKBanker Direct

June 2020

  • June 23, 2020

    Oklahoma Business Relief Program start moved to Monday

    As many of you know, the Oklahoma Business Resource Program – developed by the Oklahoma Department of Commerce – was scheduled to go live Friday. We heard from several bankers, with the program being first-come/first-served, there would be an initial rush of applicants, which would require bank employees to work all weekend to get the applications submitted. The OBA and …

  • June 17, 2020

    SBA, Treasury release simpler loan forgiveness application for Paycheck Protection Program

    The Small Business Administration, along with the Treasury, released early this morning a new Paycheck Protection Program forgiveness application, which is more streamlined and easier for applicants to navigate. The new form, which is being referred to as an EZ Loan Forgiveness Application, can be downloaded by clicking here. The full Loan Forgiveness Application Form can be downloaded here. This …

  • June 17, 2020

    State of Oklahoma starting Oklahoma Business Relief Program

    The State of Oklahoma will start its Oklahoma Business Relief Program next week. The program is similar to the Paycheck Protection Program, but at the state level. Oklahoma Gov. Kevin Stitt and Secretary of Commerce and Workforce Development Sean Kouplen asked the OBA to help spread the word about the program, as well as a pair of training calls next …

  • June 13, 2020

    SBA revises PPP application forms to reflect change in applicant eligibility

    The following information comes courtesy the ABA: The Small Business Administration last night (June 12) released new borrower and lender guaranty application forms for the Paycheck Protection Program to reflect expanded eligibility for applicants with prior felony convictions. Previously, businesses were ineligible for PPP loans if at least 20% of their equity was owned by someone who had been convicted …

  • June 11, 2020

    Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees

    The OBA will be taking nominations for 2020 Oklahoma Bankers Hall of Fame inductees through the middle of July. The Hall of Fame was created by the OBA Board of Directors to honor individual bankers for their contributions to the banking industry and the State of Oklahoma. In addition, the Hall of Fame is intended to recognize bankers’ achievements on …

  • June 11, 2020

    SBA, Treasury issue guidance on PPP flexibility, new application form for borrowers

    The following information comes courtesy the ABA: As expected, the Small Business Administration and Treasury Department late last night (June 10) released an interim final rule to reflect changes made by H.R. 7010, the Paycheck Protection Program Flexibility Act. SBA also published updated, streamlined application forms for borrowers and lenders to use for loans made on or after June 5, …

  • June 4, 2020

    Bipartisan letter urged Senate to pass PPP Flexibility Act

    Bankers garnered a strong bipartisan group of U.S. representatives to co-sign a letter urging senators to approve the PPP Flexibility Act prior to its passage on Wednesday. Oklahoma fifth district representative, Kendra Horn, was one of the co-signers of the letter, which reached the Senate shortly before it passed the bill via voice vote. We’d like to thank Rep. Horn …

  • June 3, 2020

    Senate passes PPP Flexibility Act

    The Senate passed legislation this afternoon to help businesses get their Paycheck Protection Program loans forgiven and lengthening the time they have to use the funds. You can read more about the details of the bill in the OK Banker Direct sent on May 28 after the bill passed the U.S. House of Representatives. The bill passed by voice …

  • June 1, 2020

    OBA partners with State Election Board to aid absentee voters

    The Oklahoma Bankers Association, along with the Community Bankers of Oklahoma and the Oklahoma Credit Union Association, is partnering with the State Election Board to encourage the state’s financial institutions to aid absentee voters this election season. The OBA is asking its banks to provide one or more of the following services for free to absentee voters this year: • …

May 2020

  • May 28, 2020

    House passes PPP Flexibility Act

    The U.S. House of Representatives approved this afternoon new legislation to simplify businesses having their Paycheck Protection Program loans forgiven and lengthening the time they have to use the funds. The bill would extend the forgiveness period for PPP loans from eight to 24 weeks and reduce payroll spending requirements from 75% of loan funds, to 60%. The House passed …