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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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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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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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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 bee…

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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 re…

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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 Fina…

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