Media
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SBA Issues a “Reminder” on Loan Review Procedures for PPP Loans¶
(Laurel Sykes) - On Saturday night SBA issued a “reminder” regarding their ability to review PPP loans. SBA’s interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities indicates that SBA may review any PPP loan, of any size, at any time. While it is unclear…
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Recognizing and Avoiding Scams¶
(Idea Vault Blog) - Con artists cheat Americans out of billions of dollars every year. Recognizing red flags for potential scams can help protect you, your loved ones, and your hard earned cash.
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SBA Continues to Issue Guidance on Second Draw PPP Loans¶
(Laurel Sykes) - The SBA has been busy in the last several weeks, as have lenders participating in the Paycheck Protection Program. SBA issued helpful top-line overviews of key points to both First Draw and Second Draw PPP loans. First Draw loans are available to eligible businesses with up to 500…
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Early Withdrawals From Retirement Savings¶
(Idea Vault Blog) - Whether you find yourself laid off from work, facing a medical emergency, or confronted with a situation that you’re financially unprepared for, it may be tempting to withdraw from retirement savings—but there are penalties and consequences you need to consider before doing so.
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SBA Accepting First and Second Draw PPP Loan Applications January 15, 2021 from Community Banks!¶
(Laurel Sykes) - The media has muddied the waters a bit about whether the SBA has opened its portal for First Draw Loans on January 11 and Second Draw loans January 13 for Community Financial Institutions. Rest assured, the portal is not yet reopened for the majority of PPP lenders, as “Community…
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Meet Your 401(k)¶
(Idea Vault Blog) - Even if you’re just starting your first real job—actually, especially if you’re just starting your first real job—it’s time to start thinking about retiring. That’s not a comment on how motivated or unmotivated you are, or a suggestion that you should wish your life away. It’s…
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SBA Issues New Final Interim Rules on January 6, 2021¶
(Laurel Sykes) - SBA issued Interim Final Rules on Wednesday, January 6, 2021 to renew the Paycheck Protection Program (PPP) as required by the new Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act (Economic Aid Act). We don’t yet know when the SBA application portal will reope…
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What to do with Your Stimulus Check¶
(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security Act (CARES) provides needed assistance to businesses, expansions to unemployment insurance, and direct relief checks to many Americans.
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The Impact of the Pandemic on Residential Real Estate on the Central Coast¶
(Regional Pulse Podcast) - Lori Murray, Senior Vice President and Residential Lending Manager at American Riviera Bank and Nancy Hamilton, of Calgano & Hamilton Real Estate Partners in Montecito, discuss the residential real estate market on the Central Coast during the pandemic - from an influx of…
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Monday November 30th is Cyber Monday: Tips for Staying Secure¶
(Paul Abramson) - In past blog posts we have highlighted COVID-related scams that are popping up, including fake websites targeting people ordering masks and sanitizing products. The scarcity of these items caused by the pandemic has significantly increased the number of successful attempts. In add…
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