Paycheck Protection Program: Summary of Changes 2.0 (January 19, 2021)

Over the holiday weekend, we saw the release of several targeted updates from the Small Business Administration on the Paycheck Protection Program. The updates come in the form of procedural notices to address the following: Resubmissions of loan forgiveness applications using 3508S, lender notice responsibilities to PPP borrowers, and offset of remittances to lenders for [...]
READMORE

Ten Essential Cybersecurity Best Practices

The continued development of the internet has put the world at anyone’s fingertips, which has made protecting personal information much more critical. With the constant development of new technology, comes massive innovation, and nonetheless, massive vulnerabilities. Due to these vulnerabilities, breaches and security implications by digital attacks are becoming far too common in today’s fast-paced, [...]
READMORE

Conference Call Etiquette Conference calls can be awkward. Background noise. Dead air. Multiple people talking at once. Something about not seeing the people you're talking to (and their nonverbal cues, like facial expressions and hand movements) makes it harder to communicate. But, it doesn't have to be that way. Here are some conference call etiquette [...]
READMORE

Federal Banking Agencies to Defer Appraisals and Evaluations for Real Estate Transactions Affected by COVID-19 The federal banking agencies today issued an interim final rule to temporarily defer real estate-related appraisals and evaluations under the agencies’ interagency appraisal regulations. The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of [...]
READMORE

SBA Publishes PPP Statistics

SBA Publishes PPP Statistics The Small Business Administration published statistics regarding the number of approved loans as of April 13, 2020. The data is broken out by state. View Stats
READMORE

ICBSD in Action: A Letter to the Treasury and Small Business Administration

ICBSDLogo-New
PPP Sign on Letter The ICBSD, alongside ICBA and 28 other state banking associations, sent the attached letter to Steven Mnuchin, Secretary of the U.S. Department of the Treasury and Jovita Carranza Administrator of the Small Business Administration this past week. The letter urges Secretary Mnuchin and Administrator Carranza for urgent, clear and concise instructions [...]
READMORE

SBA Paycheck Protection Program Interim Final Rule

SBA PPP: Resources and FormsOn April 2, 2020 the interim final rule for the Paycheck Protection Program (PPP) was released to the public. Since then, ICBSD has been hard at work reviewing and analyzing the rule to provide as much clarity as possible for the expected launch of the PPP. Our goal is to provide [...]
READMORE

The CARES Act Has Been Passed—What You Should Know

The CARES Act Has Been Passed—What You Should KnowThe Coronavirus Aid, Relief and Economic Security Act (CARES) was signed into law by the President on March 27, 2020. This comes after moving through various objections to passage in both the Senate and the House of Representatives, creating historical voting procedures to allow the legislation to [...]
READMORE