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OBA News
The Latest
April 2020
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April 25, 2020
SBA issues guidance on calculating max PPP loan size
Breaking news from the ABA: With the Small Business Administration reopening its E-Tran system for Paycheck Protection Program applications on Monday morning, SBA last night issued guidance to help borrowers and lenders calculate and document the maximum PPP loan amount a business may be eligible for. The guidance covers several situations about which lenders have sought clarity. The guidance addresses …
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April 15, 2020
SBA to stop accepting PPP applications once $349B limit reached
Breaking news from the ABA: The Small Business Administration will stop accepting applications for Paycheck Protection Program loans once the processed loan volume reaches the $349 billion level authorized by the CARES Act, the SBA said in a communication to stakeholders tonight. Once that point is reached “in the near future,” SBA said, “lenders will no longer be able to …
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April 15, 2020
Oklahoma banks disburse BILLIONS through Paycheck Protection Program
OKLAHOMA CITY — Oklahoma banks have worked around the clock since the Paycheck Protection Program was unveiled less than two weeks ago, helping disburse BILLIONS of dollars and TENS OF THOUSANDS of loans to the state’s small businesses. According to the Department of the Treasury, Oklahoma banks as of Tuesday had already funded 26,451 loans worth $4.01 billion since the …
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April 11, 2020
SBA, Treasury Provide Guidance on Final Authorization of PPP Loans
Breaking news from the ABA: The Small Business Administration and the Treasury Department last night updated their Paycheck Protection Program FAQ document to address a question many lenders faced related to closing loans. SBA and Treasury clarified that lenders do not need a separate SBA authorization document prior to issuing a PPP loan. Instead, lenders must have executed SBA Form …
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April 8, 2020
Latest SBA guidance clarifies PPP funding period, use of promissory notes
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 …
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Jeremy Cowen, Senior Vice President/Communications
Email: jeremy@oba.com | Phone: Ext. 113
Jeremy has been in charge of the Oklahoma Banker newspaper as well as the OBA website and other member communications since joining the OBA in January 2002. A native of Hartshorne and a 1997 graduate of the University of Oklahoma, he enjoys meeting and talking with the different people he encounters while doing his job. Previously, Jeremy worked as a sports writer in Lawton and, for the four years prior to joining the OBA, Lubbock, Texas, where he decided the town wasn’t big enough for both him and Bobby Knight. When not working, Jeremy loves to hike, read, watch football, baseball and boxing and teach journalism to high school and college students. And, if you ask, there’s a good chance he will regale you with the story about being interviewed on ESPN by Chris Fowler.