April 29, 2021 Caity RoachEditor Coleman Movers & Shakers — Jordan Wilson, Mike van Vierzen, and Kyle Davidson Jordan Wilson Joins Axiom Bank as Vice President, C&I Loan Relationship Manager “Jordan’s determination sets him apart from other bankers,” says Ted Sheppe, Executive Vice President of Commercial Banking at Axiom Bank. “With a proven track record…

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April 28, 2021 Caity RoachEditor C-Suite Wednesday — Restaurant Revitalization Fund Opens May 3, 2021 The SBA has announced that it will begin accepting online portal registrations for the Restaurant Revitalization Fund (RRF) grant program on Friday, April 30, 2021, at 9 a.m. EDT. The portal will then officially begin accepting applications on Monday, May…

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April 27, 2021 Caity RoachEditor Hot Topic Tuesday — Rhode Island to Join 17 States in Taxing PPP Proceeds Congress chose to exempt forgiven Paycheck Protection Program (PPP) loans from federal income taxation. However, many states remain on track to tax them by either treating forgiven loans as taxable income, denying the forgiven PPP loan…

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April 23, 2021 Caity Roach Editor Fraud Friday — NASA Senior Executive Pleads Guilty to PPP Loan Fraud “Despite holding a senior executive position at NASA, the defendant applied for over $350,000 in fraudulent loans and benefits,” says Raj Parekh, Acting U.S. Attorney for the Eastern District of Virginia. “In doing so, he essentially treated…

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April 21, 2021 Caity RoachEditor C-Suite Wednesday – Congress Seeks Information on PPP Forgiveness Backlog Last week, a group of House Republicans sent a joint letter addressed to SBA Administrator Guzman, asking for information on the backlog of Paycheck Protection Program (PPP) loan-forgiveness applications. “While we are appreciative of the SBA’s ongoing efforts, there remains…

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April 20, 2021 Caity RoachEditor SBA Hot Topic Tuesday – SBA Prepares to Launch Restaurant Revitalization Fund Although applications for Restaurant Revitalization Fund (RRF) grants are not yet being accepted, the SBA posted a Program Guide and Sample Application (SBA Form 3172) to their website last weekend.  “We are starting the process to help restaurants…

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