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(Laurel Sykes) - Last week, the SBA made a new $310 billion appropriation of funds available for loans to small businesses under the 7(a) Paycheck Protection Program, which was created by the CARES Act. Under this “tranche”, $60 billion was reserved specifically for community financial institutions…
Continue Reading(Regional Pulse Podcast) - Laurel Sykes (EVP Chief Compliance and Risk Officer), Paul Abramson (EVP Chief Technology Officer, and Eusebio Cordova, Jr. (EVP Chief Credit Officer) continue the discussion on pandemic response. In this episode, they discuss phase 1 and phase 2 of the Small Business Adm…
Continue Reading(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which became law on March 27, 2020 as part of the federal government’s response to the COVID-19 pandemic, may affect your retirement account in a number of specific ways. If you participate in your employer’s define…
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(Idea Vault Blog) - If you or your dependents have federally owned student loans, revisions in the CARES Act can help reduce that burden temporarily.
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(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act was designed to help Americans as they face the consequences of the COVID-19 pandemic. It includes various benefits for businesses and individuals alike. Below is a brief overview of some of the most important benefi…
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(Laurel Sykes) - As you may have heard, the President signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). One of the provisions of the CARES Act is a temporary revision of small business loans administered by the Small Business Administration (SBA)…
Continue Reading(Laurel Sykes) - American Riviera Bank remains committed to assisting our customers during this challenging time. We know you likely have questions about your existing loans with ARB, and we continue to receive questions on how to access the multitude of government loan programs being made availabl…
Continue Reading(Laurel Sykes) - While many businesses and workers are subject to the California order to Shelter in Place, there are still many others who are deemed “essential”.
Continue Reading(Laurel Sykes) - While we discussed yesterday the impact of the Shelter in Place order on the community’s workforce, our local small businesses are also struggling.
Continue Reading(Laurel Sykes) - One other bright spot in all of this is the potential for tax relief available at the state and federal, and potentially local level. While the situation remains fluid and new guidance is issued daily, as of March 21, 2020 we are aware of several new developments.
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