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Is Now the Right Time to Refinance?

Blog June 1, 2020 by Crystal Rem

Today’s topic: Is now the right time to refinance?The answer depends on your circumstances.First, let’s talk about why we refinance to begin with.Lower Interest Rate. Getting a mortgage loan with a lower interest rate is a great reason to refinance, and rates are at multi-year lows right now. A lo…

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The Paycheck Protection Program Loan Forgiveness Saga Continues

Blog May 27, 2020 by Laurel Sykes

The application, supplemented by the Interim Final Rules, provide much-needed guidance on the forgiveness prong of the Paycheck Protection Program (PPP) established by the CARES Act; however, several open questions remain.  These are the next in line behind 13 other Interim Final Rules and 48 Frequ…

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The Current State of Paycheck Protection Program Loan Forgiveness

Blog May 21, 2020 by Laurel Sykes

The application instructions include new guidance not covered by prior FAQs issued by the SBA or other Interim Final Rules implementing the PPP provisions of the CARES Act. In addition, the press release announcing the form states, “the SBA will also soon issue regulations and guidance to further…

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Update on the Paycheck Protection Program (PPP)

Blog May 7, 2020 by Laurel Sykes

American Riviera Bank, along with other institutions with less than $10 billion assets, continue to have access to the $250 billion in general funds authorized for the second phase of the PPP until the remaining funds run out.  Lenders between $10 billion and $50 billion in assets had only been app…

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The SBA Paycheck Protection Program: Challenges and Opportunities for Community Banks

Blog May 4, 2020 by 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 Administration's Paycheck Prot…

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The CARES Act: What You Should Know

Blog March 31, 2020 by Laurel Sykes

In addition to the SBA’s Economic Injury Disaster Loans (EIDLs) which are already available directly from the SBA, the CARES Act expands the scope of businesses eligible for Section 7(a) loans and it modifies the maximum loan amounts and permitted use of the loan proceeds under a “Paycheck Protecti…

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CARES Act Signed into Law

Blog March 27, 2020 by Laurel Sykes

For our SBA loan customers, the SBA’s Economic Injury Disaster Loans (EIDLs) are already available by applying directly through the SBA.  Please visit our blog post from earlier this week here for information and resources to assist you in applying for an EIDL.You may also be hearing in the news an…

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Essential Services

Blog March 26, 2020 by Laurel Sykes

This includes law enforcement and public safety professionals, as well as those in food production and certainly our heroes on the front line of this pandemic, our emergency responders and health care providers.  In fact, the President issued a statement on Monday stating, “If you work in a critica…

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Small Business Resources

Blog March 24, 2020 by Laurel Sykes

Businesses have been forced to temporarily close their doors or change their business model to comply with the order, and many are faced with tough decisions about how they can continue to operate amidst all this uncertainty. We know you are probably being inundated with information, and there are…

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Pandemic Relief

Blog March 23, 2020 by Laurel Sykes

The executive summary provided below was provided courtesy of Jody Holehouse, ARB Board member and a partner with Nasif, Hicks, Harris & Co., LLP but we remind you that this should not be construed as advice and we encourage you to consult your tax advisor for the actual applicab…

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