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.


Sector Calls

Pandemic News

PPP non-employer borrowers most successful with community banks: study

Aug 6, 2021 | NewsWatch Today
Small businesses without employees were most successful in obtaining Paycheck Protection Program funding from community banks and were the most satisfied with the support they received during the pandemic compared to large banks and credit unions.

Agencies extend foreclosure moratoria

Aug 2, 2021 | NewsWatch Today
The federal government extended the moratorium on single-family real estate owned evictions until Sept. 30 for Fannie Mae, Freddie Mac, the Federal Housing Administration, and the USDA.

SBA issues rule to expedite PPP forgiveness

Jul 29, 2021 | NewsWatch Today
The SBA issued an interim final rule designed to speed up the forgiveness process for Paycheck Protection Program loans of $150,000 or less.