Regulators Close Silicon Valley Bank and Signature Bank: Here's What You Need to Know

Last weekend was a wild ride for the banking industry and depositors everywhere.  Silicon Valley Bank experienced an old fashioned “run on the bank” that forced the FDIC to close it on mid-day Friday. Remember Jimmy Stewart in “It’s a Wonderful Life”.  Over the weekend another bank, Signature Bank, was also closed by regulators.  Both of these... Read More

SBA Opens PPP Forgiveness Portal, But Banks Put on the Brakes

  The Small Business Administration (SBA) officially opened its Paycheck Protection Program Forgiveness Portal to lenders starting on Monday, August 10, 2020. This means that banks who provided loans to small businesses through the Paycheck Protection Program (PPP) may start processing applications from borrowers to have their loans entirely... Read More

Main Street Lending Program

  Update: On Monday July 6 the Main Street Lending Program became fully operational. This program is meant to shore up small and mid-sized American businesses that were in good financial standing prior to the pandemic. However, the program might have difficulty garnering support from the nation’s largest financial institutions—lenders like JP... Read More

Paycheck Protection Program Resumes Monday, April 27th

  If you have not already taken advantage of it, the SBA will be accepting PPP applications starting Monday morning.  We recommend reaching out to your banker right away to get the ball rolling as the new appropriation will be given on a first-come first-served basis.  Let us know what we can do to be of assistance – we have already helped... Read More