June 17, 2020 By Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday –  SBA Issues New PPP Forgiveness Forms and Interim Final Rule Today, the U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, posted its 19th Interim Final Rule (IFR) regarding the Paycheck Protection Program (PPP). The IFR is scheduled to…

June 16, 2020 By Caity Witucki Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday — SBA and Treasury Announce Revised Guidance Regarding PPP Last Friday, The U.S. Small Business Administration, in consultation with the U.S. Department of the Treasury, issued new and revised guidance for the Paycheck Protection Program (PPP).  This guidance implements the Paycheck…

June 15, 2020 By: Caity Witucki Contributing Editor, Main Street Monday Main Street Monday –  Small Business Optimism Rebounds According to the most recent National Federation of Independent Business (NFIB) report, small business optimism increased 3.5 points in May to 94.4, a strong improvement from April’s 90.9 reading. Additionally, 8 out of 10 of NFIB’s…

June 12, 2020 By Caity Witucki Contributing Editor, Fraud Friday  Fraud Friday — Bank President Guilty of Bank Fraud and Arson Violations On June 5, 2020, Anita Gail Moody, the former president of Enloe State Bank, pleaded guilty in federal court to participating in a multimillion dollar fraud scheme and setting fire to financial documents…

June 11, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Jim Barnett, Hercules Capital, and Fernanda Pedraza Summit State Bank Welcomes Jim Barnett as Vice President and Small Business Lending Officer Jim Barnett has joined Summit State Bank’s SBA team as Vice President and Small Business Lending Officer.…

June 10, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday –  PPP Loan Risk Management In March, the lending industry responded to the federal government’s urgent request to facilitate the funding of Paycheck Protection Program (PPP) loans. Most participating lenders went above and beyond to get money out to small businesses affected by…

June 9, 2020 By Caity Witucki Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday —  SBA and Treasury Issue Statement on the Paycheck Protection Program Flexibility Act On June 8, 2020, SBA Administrator, Jovita Carranza, and U.S. Treasury Secretary, Steven T. Mnuchin, issued a joint statement regarding the implementation of the new Paycheck Protection Program…

June 8, 2020 By: Caity Witucki Contributing Editor, Main Street Monday Main Street Monday –  Nearly 8 in 10 Small Businesses Reopen According to the latest MetLife & U.S. Chamber of Commerce Small Business Coronavirus Impact Report, nearly 8 in 10 American small businesses report they have reopened in some capacity and many are showing…

June 4, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Commencement Bank, Joseph Coleman Patti M. Anderson, and Brad Abel Commencement Bank Opens New Government Guaranteed Lending Department Commencement Bank announces the launch of its new Government Guaranteed Lending Division. Although the Bank has always offered government guaranteed…

June 3, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday –  House Calls for a Simplified PPP Forgiveness Application On May 28, 2020, Kentucky Congressman, Andy Barr, and Arkansas Congressman, French Hill, submitted a formal letter to the U.S. Department of Treasury and the U.S. Small Business Administration urging them to simplify the…