The OCC today issued a statement of support for the Financial Crimes Enforcement Network’s approach to Bank Secrecy Act compliance during the coronavirus pandemic
Browsing: SBA Paycheck Protection Program
The Small Business Administration tonight released a long-awaited promissory note form for use with Paycheck Protection Program loans. Overnight, the Treasury Department updated its frequently asked questions on the PPP to address several questions raised by ABA and member banks.
In order to facilitate loans being made through the Small Business Administration’s Paycheck Protection Program, the Federal Reserve today said that it will soon create a facility to provide term financing backed by PPP loans.
Acknowledging a somewhat choppy start to the Small Business Administration’s Paycheck Protection Program on Friday, American Bankers Association President and CEO Rob Nichols this morning noted that SBA and the Treasury Department worked with bankers throughout the weekend to answer questions as lenders provide much-needed credit to their small business customers.
With banks across the country working through the weekend to make and fund loans through the Small Business Administration’s Paycheck Protection Program, Treasury Secretary Steven Mnuchin and several other senior Treasury and SBA officials met on Sunday morning with ABA banker leaders to answer questions and hear feedback.
The Small Business Administration today published Form 3506, which banks must submit in order to receive delegated authority to issue 7(a) loans under the Paycheck Protection Program.
Bankers have lots of questions about the Small Business Administration’s new Paycheck Protection Program, which launched today to deliver up to $349 billion to small businesses struggling with the economic fallout from the coronavirus pandemic.
The Small Business Administration today issued an interim final rule that provides additional implementation guidelines and requirements for its Paycheck Protection Program to aid small businesses hit hard by the COVID-19 crisis.
The Treasury Department today issued much-anticipated guidance for the Paycheck Protection Program, which starting this week will provide up to $350 billion in fully forgivable loans to help small businesses maintain payrolls during the coronavirus pandemic.