OPERATIONAL RISK

Pandemic Response

A pandemic response plan is critical piece of any business continuity plan. The COVID-19 Pandemic serves as an extreme example of why pandemic plans are a necessity, but each year new diseases have the potential to disrupt our communities.

A disease outbreak becomes a pandemic in the event a disease spreads across several countries and affects a large number of people. Recent pandemics include the 2019-2020 COVID-19 Pandemic, the 2009 H1N1 Pandemic and the 1958 H3N2 Pandemic. Pandemics impact entire communities and stress entire economies.

A community bank’s preparedness and resilience during a pandemic may mean the difference between small businesses surviving a pandemic or not. Managing your staff and your operations efficiently through a pandemic is vital to the strength and stability of main street.


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Pandemic News

ICBA: Two-tiered deadline will ensure SBA clears PPP loans on hold

Mar 15, 2021 | NewsWatch Today
ICBA thanked policymakers for introducing The PPP Extension Act of 2021, which pushes the application deadline until May 31 and creates a second deadline of June 30 for the Small Business Administration to clear the thousands of Paycheck Protection Program loan applications in process.

SBA updates PPP guidance

Mar 15, 2021 | NewsWatch Today
The Small Business Administration on Friday updated its frequently asked questions as well as its guidance concerning how to calculate revenue reduction and maximum loan amounts for first- and second-draw Paycheck Protection Program loans.

New round of EIPs starts today

Mar 12, 2021 | NewsWatch Today
The IRS said it will begin distributing the third round of Economic Impact Payments today, with an effective entry date of this Wednesday, March 17.