ABA: Bank Economists See Strengthening Economic Recovery Ahead
The U.S economy will grow at a robust pace of about 4% over the four quarters of 2021, the strongest growth in nearly two decades after the deepest recession since the Great Depression, according to the latest forecast of the American Bankers Association’s Economic Advisory Committee. However, the economy remains in the grip of the…
FEMA: President Trump Approves Major Disaster Declaration for Utah
FEMA announced that federal disaster assistance has been made available to the state of Utah to supplement state and local recovery efforts in the areas affected by straight-line winds Sept. 7 – 8, 2020. The President’s action makes federal funding available to the state and local governments and certain private nonprofit organizations on a cost-sharing…
FEMA: President Trump Approves Major Disaster Declaration for Georgia
Yesterday, FEMA announced federal disaster assistance is available to the state of Georgia to supplement state and local recovery efforts in the areas affected by Tropical Storm Zeta on Oct. 29, 2020. Federal funding is available to state and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency work and…
FEMA: President Trump Approves Major Disaster Declaration for Connecticut
FEMA announced federal disaster assistance has been made available to the state of Connecticut to supplement state, tribal and local recovery efforts in areas affected by Hurricane Isaias on Aug. 4, 2020. Federal funding is also available to state, tribal and eligible local governments and certain private nonprofit organizations on a cost-sharing basis for emergency…
SBA: PPP Re-Opened to Small Lenders on January 15th and All Lenders on January 19th
Lenders with $1 Billion or Less in Assets Will be Able to Submit First and Second Draw PPP Applications on Friday – Continuing Dedicated Access for Community-Based Lenders The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, will re-open the Paycheck Protection Program (PPP) loan portal to PPP-eligible lenders with $1 billion or…
OCC: Brian Brooks Steps Down and Blake Paulson Becomes Acting Comptroller of the Currency Immediately
Acting Comptroller of the Currency Brian P. Brooks today announced he will step down on January 14, 2021, and pursuant to 12 USC 4, Chief Operating Officer Blake Paulson will become Acting Comptroller of the Currency. “It has been a great honor to serve the United States as Acting Comptroller of the Currency,” Acting Comptroller…
FEMA: President Trump Approves Major Disaster Declaration for Louisiana
FEMA announced federal disaster assistance has been made available to the state of Louisiana to supplement state, tribal and local recovery efforts in areas affected by Hurricane Zeta from Oct. 26-29, 2020. The President’s action makes federal funding available to affected individuals in Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard and Terrebonne parishes. Assistance can include grants for…
SBA: 1.1 Million PPP Loans Forgiven So Far Totaling Over $100 Billion
Small borrowers make up vast majority of forgiveness applicants The U.S. Small Business Administration has already forgiven more than 1.1 million Paycheck Protection Program (PPP) loans for over $100 billion, providing an extraordinary amount of critical relief to America’s small businesses just 3 months since the earliest PPP borrowers’ covered periods ended. “Today’s news is a key…
FEMA: President Trump Approves Emergency Declaration for the District of Columbia
FEMA announced federal disaster assistance has been made available to the District of Columbia to supplement the District’s response efforts due to the emergency conditions resulting from the 59th Presidential Inauguration from January 11 to January 24, 2021. The President’s action authorizes FEMA to coordinate all disaster relief efforts which have the purpose of alleviating…
SBA: PPP Re-Opened to Community Financial Institutions First
Community Financial Institutions get dedicated access starting January 11, 2021 The U.S. Small Business Administration, in consultation with the U.S. Treasury Department, re-opened the Paycheck Protection Program (PPP) loan portal today at 9 am ET. SBA is continuing its dedicated commitment to underserved small businesses and to addressing potential access to capital barriers by initially granting PPP access…