Oklahoma Bankers Association We make bankers better!
Breaking news from the ABA: Newly added FAQs from the Small Business Administration and the Treasury Department today address two challenges with the Paycheck Protection Program that ABA and the state bankers associations have been urgently raising with officials: the promissory note to use with PPP loans and the expectation for a five-day period between loan approval and funding. Regarding …
April 2020
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April 7, 2020
Treasury updates FAQs on PPP
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.
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April 6, 2020
Select your Emerging Leaders Chairperson
The OBA heard from bankers interested in serving as chairperson of the Emerging Leaders Division. This position was open to any OBA Emerging Leaders who are currently enrolled in OBA Emerging Leaders Academy or had previously graduated from an OBA Leadership Academy. The Emerging Leaders chair will serve a two-year term and will work closely with OBA staff to continue …
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April 6, 2020
PPP system down to make system upgrades
The OBA just received word the PPP system is temporarliy down to make system upgrades. We are told it will be back up soon; however, we do not know an exact time frame. Keep sending us (roger@oba.com; adrian@oba.com) questions about any issues that are making it difficult to participate in the PPP and we’ll do our very best to get …
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April 5, 2020
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 …
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April 4, 2020
FAQs regarding participation of faith-based organizations in the PPP and EIDL
There have been many questions regarding participation of faith-based organizations in the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan Program (EIDL). Click here to view an SBA document addressing frequently asked questions.
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April 3, 2020
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 …
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April 1, 2020
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.
March 2020
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March 31, 2020
Week of March 30
In This Issue… OBA weekly call with bankers concerning COVID-19 response available for download Treasury releases assistance for small businesses, information for lenders SBA Form 750 available for bankers Interested in leading our Emerging Leaders? Let us know … TODAY! OBA education corner …
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March 28, 2020
Q&A on Paycheck Protection Loan Program
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 …