Consumer & Business Response

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Help Consumers Prepare for a Natural Disaster

Disasters are unpredictable and can be devastating to a community. But there is a lot your bank can do to help prepare your customers for these events.

Share these tips:

  • Store important documents such as proof of identity, property ownership, insurance policies, bank and investment account information, and three years of tax returns in a bank safe-deposit box. Encase these items in plastic bags to prevent moisture.
  • Prepare additional copies of critical documents such as birth certificates, adoption papers, marriage licenses and the deed to your home for safekeeping and inform a trustee, relative or attorney of their location.
  • Print out key contact information for executors, trustees and guardians and store it in a secure location, either in your safe-deposit box or with a close relative.
  • Inventory personal and household valuables (take photos and keep receipts) to help evaluate replacement costs.
  • Include surplus cash, preferably small bills, in your home emergency kit. The kit should also include a three-day supply of food and water, a first aid kit, can opener, radio, flashlights and batteries.
  • Create digital copies, which can serve as a supplement or backup to paper documents.  Scanned or electronic documents can be uploaded with secure online backup services.
  • Contact your insurance agent or visit the Federal Emergency Management Agency’s website to determine if a flood insurance policy is right for you.

PPP general fund exhausted

May 05, 2021

The Paycheck Protection Program’s general fund was reportedly exhausted Tuesday ahead of the program’s May 31 authorization, though some PPP funds remain for certain loans and lenders.

Details: While the SBA hasn’t yet released public figures, remaining PPP funds reportedly break down as follows:

  • Roughly $6 billion reserved for loans with hold codes.
  • Roughly $8 billion set aside for certain community financial institutions.

Background: Under the Economic Aid Act, community financial institutions include Community Development Financial Institutions, Minority Depository Institutions, Certified Development Corporations, and certain microloan intermediaries.

More: More PPP information and resources are available on the SBA and Treasury sites and ICBA's PPP and EIP News page.