Monday, October 19, 2020

OKBanker Direct

Oklahoma Banker Direct

April 2020

  • April 26, 2020

    SBA announces measures aimed at smoothing operations ahead of PPP restart

    Breaking news from the ABA: With the U.S. Small Business Administration expecting a high volume of Paycheck Protection Program loan applications when the E-Tran system reopens at 9:30 a.m. tomorrow, SBA today notified lenders of several steps it will take to ensure the smooth operation of the program, including pacing the number of loans processed once the system reopens. Acknowledging …

  • April 26, 2020

    OBA President/CEO Roger Beverage addresses concern for the PPP

    Good afternoon. Some additional guidance was released by the Treasury Department this week, and I found it very troubling. Here’s why: Question #31 was added to the Treasury’s list of FAQs Thursday. You may recall there has been some controversy about whether large organizations, like Ruth’s Chris Steakhouse and several others, are eligible for a PPP loan. This question is as …

  • April 24, 2020

    PPP loans to resume on Monday morning

    Paycheck Protection Program loans will resume through the Small Business Administration’s E-Tran platform at 9:30 a.m. (CDT) Monday. President Trump signed a bill earlier today appropriating more than $320 billion for the PPP. Of this, a minimum of $30 billion will be set aside for community development financial institutions, banks and credit unions with less than $10 billion in assets. …

  • April 23, 2020

    House approves additional PPP funds, President to sign imminently

    Breaking news from the ABA: By a strong bipartisan vote this evening, the House cleared legislation providing more than $320 billion in new funding for the Small Business Administration’s Paycheck Protection Program. The Senate passed the bill earlier this week, and President Trump is expected to sign it shortly. Of the more than $320 billion appropriated for PPP loans, a …

  • April 23, 2020

    Preparing for round two of the PPP

    Breaking news from the ABA: The House is expected this afternoon to approve the bill providing an additional $320 billion in funding for the SBA’s Paycheck Protection Program. The president will sign it expeditiously, and the Treasury has said it will work to get the appropriation to SBA ASAP. We therefore expect the E-Tran system to be reopened as early …

  • April 17, 2020

    Update on slate of officers, board nominations, proposed By Laws amendment

    Office of First Vice Chair Pursuant to Article 6.3 of the By Laws of the Oklahoma Bankers Association, notice is hereby given of the nominee for the office of First Vice Chair: AMADA ALVIDREZ President – Guymon Equity Bank Pursuant to Article 5.4 of the By Laws of the Oklahoma Bankers Association, notice is hereby given of the following nominations …

  • April 16, 2020

    Call Congress now; urge additional PPP funding

    As you know, the SBA today officially announced that it has exhausted its $349 billion in Paycheck Protection Program funding. Since Oklahoma bankers know better than most how critically important it is for Congress to authorize additional funds for this program, we urge you to make a direct appeal to congressional leadership. Senate Majority Leader McConnell, Senate Minority Leader Schumer, …

  • April 16, 2020

    CSBA releases new set of rules on forbearance

    The Small Business Administration released late this afternoon a new set of rules on forbearance related to the CARES Act. You can click here to read the SBA Procedural Notice.

  • April 16, 2020

    Call Congress now; urge additional PPP funding

    As you know, the SBA today officially announced that it has exhausted its $349 billion in Paycheck Protection Program funding. Since Oklahoma bankers know better than most how critically important it is for Congress to authorize additional funds for this program, we urge you to make a direct appeal to congressional leadership. Senate Majority Leader McConnell, Senate Minority Leader Schumer, …

  • April 16, 2020

    PPP funds depleted; talking points for bankers to customers

    As of the morning of April 16, the funds for the Paycheck Protection Program have been depleted. While we expect Congress to appropriate more funds for the PPP soon, in the meantime the Small Business Administration and Treasury Department will not be processing any more loan requests through the PPP. “There is currently a bill being discussed in congress that …