New PPP Rules Explained
President Biden announced many modifications to the Paycheck Protection Program last month. On March 3, 2021, the Small Business Administration issued its Interim Final Rule which outlines the actual rules and procedures to implement these changes.Read More
Do You Have a Bank or a Banker?
If you were asked, who's your banker, how would you respond? Would you respond with the name of a person? Or an institution? Your answer matters.Read More
PPP Loan Applications for 2021: What You Need to Know
While the PPP re-opened January 11, 2021, only a small number of select community development financial institutions were granted access to the SBA submission portal, so far. Banks have been instructed to watch for the portal updates that opens access to all. No specific dates have been provided, so we will continue to watch for the "gates to open." In the meantime, we are accepting applications for both First Draw Loan and Second Draw Loan applicantsRead More
PPP Loan Updates - What's New for 2021
On December 27, 2020, the Economic Aid to Hard-Hit Businesses, Nonprofits, and Venues Act (the Economic Aid Act) was signed into law. The Act reauthorizes and modifies the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan Program (EIDL). The SBA issued guidance to implement these new provisions January 6, 2021. The following information has been gleaned from that guidance issued by the SBA. Let's begin with what the Act provides for our existing PPP borrowers.Read More
Do You Need Cyber Liability Insurance?
It may not be something you've ever thought about, or even heard of. Cyber liability insurance is a growing need for businesses -- and not just big businesses and national corporations, according to Ryan Murray, a vice president at Crest Insurance Group and the speaker for Republic Bank of Arizona's July ShopTalk event.Read More