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ICBSD Blog
Our blog features the latest news, updates, and insights from the community banking industry.
[vc_row][vc_column][vc_custom_heading text=\”PPP Reform Summary for Borrowers\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]ICBA released a summary of the Paycheck Protection Program reform law signed by President Donald Trump on Friday for community banks to share with their small-business borrowers. While further guidance and clarification from the SBA and Treasury is likely, the Paycheck Protection Program Flexibility Act of 2020: Extends from eight to […]
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[vc_row][vc_column][vc_custom_heading text=\”Act Now on PPP Reform\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]NOW is the time to contact Congress and push for needed reforms to the Paycheck Protection Program. Last week, the House passed separate legislation to modify the PPP program, and now it is in front of the Senate for consideration. It is important to press Congress for the best […]
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[vc_row][vc_column][vc_custom_heading text=\”OCC Combination Rules and Bank Lending Limits\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]When it comes to fast food dining, the combo meal makes life easy. When it comes to applying combination rules to a bank’s lending limits, though, it’s not quite as simple as a quick drive-thru at your local fast food joint. Bankers are well acquainted with lending […]
Read More[vc_row][vc_column][vc_custom_heading text=\”Call to Action: Paycheck Protection Program Reform \” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The Independent Community Bankers of South Dakota, alongside the Independent Community Bankers of America, sent a letters to Capitol Hill on May 27, 2020 calling for reform within the Paycheck Protection Program. A snippet of the letter states, \”The long-awaited forgiveness guidance released by Treasury last […]
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[vc_row][vc_column][vc_custom_heading text=\”SBA issues guidance on PPP lending\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The Small Business Administration issued two interim final rules on Paycheck Protection Program requirements. One interim final rule focuses on loan review procedures and related borrower and lender responsibilities, such as SBA reviews of individual PPP loans, what lenders should review, and lender fees subject to clawback if SBA determines […]
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[vc_row][vc_column width=\”5/6\”][vc_custom_heading text=\”ICBA Letter Regarding Additional Covid-19 Response Resources\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text] To our Bank Members: Today, ICBA sent a letter to Majority Leader McConnell, Minority Leader Schumer, Speaker Pelosi, and Minority Leader McCarthy. In the letter ICBA urge Congress to take the recommendations outlined in the letter into consideration for inclusion in the next legislative package […]
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[vc_row][vc_column][vc_custom_heading text=\”SBA Procedural Notice \” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]The Small Business Administration just released long-sought guidance on submitting the initial SBA Form 1502 for Paycheck Protection Program loans. Lenders are required to submit the form to report on PPP loans and collect the processing fees on fully disbursed loans. In a new Procedural Notice, the SBA lays out how […]
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[vc_row][vc_column][vc_custom_heading text=”Loan Forgiveness Letter & Workbook ” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text]As reported last Friday, the Small Business Administration released the Application Forgiveness for loans made under the Paycheck Protection Program. To assist you and your borrowers in the process of calculating and documenting loan forgiveness ICBSD has prepared a complimentary loan forgiveness workbook for your use. In addition […]
Read More[vc_row][vc_column width=\”2/3\”][vc_custom_heading text=\”Paycheck Protection Program: Loan Forgiveness Application\” google_fonts=\”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal\”][vc_column_text]Please be advised the U.S. Department of Treasury released the PPP Loan Forgiveness Application on May 15th. Download the new application now.[/vc_column_text][/vc_column][vc_column width=\”1/3\”][vc_empty_space][vc_btn title=\”Download Application\” color=\”success\” link=\”url:https%3A%2F%2Fhome.treasury.gov%2Fsystem%2Ffiles%2F136%2F3245-0407-SBA-Form-3508-PPP-Forgiveness-Application.pdf||target:%20_blank|\”][/vc_column][/vc_row]
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[vc_row][vc_column][vc_custom_heading text=”Temporary Extensions Granted For Driver License Expiration Dates” google_fonts=”font_family:Montserrat%3Aregular%2C700|font_style:400%20regular%3A400%3Anormal”][vc_column_text] FOR IMMEDIATE RELEASE: Wednesday, April 1, 2020 CONTACT: Tony Mangan, Public Information Officer, 605-280-5648 Temporary Extensions Granted For Driver License Expiration Dates PIERRE, S.D. – Gov. Kristi Noem has signed legislation that gives the Department of Public Safety Cabinet Secretary the authority to order the temporary extension […]
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