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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 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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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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Finding Funds in an Emergency¶
(Idea Vault Blog) - If you find yourself facing an emergency that you’re financially under-prepared for, the prospect of what to do next may feel overwhelming. Don’t panic. There are things you can do to get through this crisis.
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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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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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