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The Current State of Paycheck Protection Program Loan Forgiveness¶
(Laurel Sykes) - You may have heard that the Small Business Administration (“SBA”) released the Paycheck Protection Program Loan Forgiveness Application on Friday, May 15, 2020. Despite detailed instructions that accompany the 11-page application, many questions still remain.
Continue ReadingUpdate on the Paycheck Protection Program (PPP)¶
(Laurel Sykes) - Last week, the SBA made a new $310 billion appropriation of funds available for loans to small businesses under the 7(a) Paycheck Protection Program, which was created by the CARES Act. Under this “tranche”, $60 billion was reserved specifically for community financial institutions…
Continue ReadingThe SBA Paycheck Protection Program: Challenges and Opportunities for Community Banks¶
(Regional Pulse Podcast) - Laurel Sykes (EVP Chief Compliance and Risk Officer), Paul Abramson (EVP Chief Technology Officer, and Eusebio Cordova, Jr. (EVP Chief Credit Officer) continue the discussion on pandemic response. In this episode, they discuss phase 1 and phase 2 of the Small Business Adm…
Continue ReadingAmerican Riviera Bank Reports Earnings and Community Support¶
() - Santa Barbara, California (April 28, 2020) – American Riviera Bank (OTC Markets: ARBV) announced today unaudited net income of $1,171,000 ($0.23 per share) for the quarter ended March 31, 2020. This represents a decrease in net income from the $1,768,000 ($0.35 per share) for the same reportin…
Continue ReadingThe CARES Act: Retirement Accounts¶
(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act, which became law on March 27, 2020 as part of the federal government’s response to the COVID-19 pandemic, may affect your retirement account in a number of specific ways. If you participate in your employer’s define…
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Pandemic Response Plans and the Silver Lining¶
(Regional Pulse Podcast) - Executive Vice President, Chief Compliance and Risk Officer, Laurel Sykes and Paul Abramson, Executive Vice President, Chief Technology Officer, discuss pandemic response and how what we are doing now can shape the future.
Continue ReadingThe CARES Act: Student Loans¶
(Idea Vault Blog) - If you or your dependents have federally owned student loans, revisions in the CARES Act can help reduce that burden temporarily.
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The CARES Act: Individual Benefits Overview¶
(Idea Vault Blog) - The Coronavirus Aid, Relief, and Economic Security (CARES) Act was designed to help Americans as they face the consequences of the COVID-19 pandemic. It includes various benefits for businesses and individuals alike. Below is a brief overview of some of the most important benefi…
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The CARES Act: What You Should Know¶
(Laurel Sykes) - As you may have heard, the President signed into law on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). One of the provisions of the CARES Act is a temporary revision of small business loans administered by the Small Business Administration (SBA)…
Continue ReadingCARES Act Signed into Law¶
(Laurel Sykes) - American Riviera Bank remains committed to assisting our customers during this challenging time. We know you likely have questions about your existing loans with ARB, and we continue to receive questions on how to access the multitude of government loan programs being made availabl…
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