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The U.S. Senate approved an extension of the Paycheck Protection Program late last night. The PPP was set to expire at the end of Tuesday. The Program will still be paused following the Senate’s action as the U.S. House must also approve the extension. Once approved, the new deadline would be extended until Aug. 8. There is approximately $130 billion …
July 2020
June 2020
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June 30, 2020
Week of June 29
In This Issue… Regulatory agencies propose new, revised Q&As on flood insurance Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees Salary survey deadline this week 2021 Oklahoma Views & Vistas Calendar available for discounted price through Wednesday OBA education corner …
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June 25, 2020
PPP cutoff approaching
The Paycheck Protection Program (PPP) cutoff is June 30. According to the SBA’s Dustin Allen, it will be a hard and fast cutoff at Close of Business on June 30. If an application has not been input in to ETRAN and reached the approval stage by that time it will not be given consideration. Allen urges bankers to make sure …
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June 24, 2020
Agent fees for CPAs, lawyers?
We have been hearing from some of our colleagues in other states about a few issues that seem to have popped up that relate to the COVID-19 virus outbreak and the related Paycheck Protection Program initiative. We wanted to check with our banks as to whether these or any other issues may have come to your attention or may be …
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June 24, 2020
State of Oklahoma starting Oklahoma Business Relief Program
Developed to help local businesses across the state overcome the economic challenges of COVID-19, the Oklahoma Business Relief Program offers vital funding for businesses that have suffered revenue loss due to the pandemic. Gov. Kevin Stitt has designated $50 million in Federal CARES Act funds for the program. Starting Monday, June 29, Oklahoma businesses can request to apply for OBRP …
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June 23, 2020
Week of June 22
In This Issue… State of Oklahoma starting Oklahoma Business Relief Program SBA, Treasury announce enhanced transparency on PPP loans Oklahoma Bankers Hall of Fame taking nominations for 2020 inductees Salary survey deadline extended Check out OBA’s Strategic Members COVID-19 Resource Page OBA education corner …
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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 …
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June 22, 2020
Executive News: Food production, banking and beyond
I recently read an article written by Evan Sparks, who is the editor-in-chief of the ABA Banking Journal and vice president for publications at the American Bankers Association. His article hit home and stirred up some memories for me – some good, most bad. Years ago, I was the director of the D epartment of Banking and Finance in Nebraska. …
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June 22, 2020
Lawton’s Walker takes OBA chairman reins
Rick Walker, vice chairman and CEO of Liberty National Bank in Lawton, was inducted as the 2020-21 chairman of the Oklahoma Bankers Association during a video conference on May 19. Walker has been with his bank for almost 15 years. He began his banking career in 1987 working in various aspects of lending and management. He holds a bachelor’s in …
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June 22, 2020
OBA joins colleagues in asking to simplify PPP’s loan forgiveness policy
The OBA has joined two different groups of trade associations in asking the Trump Administration to simplify the confusing forgiveness process for PPP loans. “As this issue of the Oklahoma Banker goes to press, we’re waiting for President Trump to sign H.R. 7070, the Paycheck Protection Program Flexibility Act,” OBA Executive Vice President/Government Relations Adrian Beverage said. “The Senate approved …