Launching a new lending initiative during a pandemic was a challenge in itself, but add in closed branches, remote customers, and government provisions, and community banks faced a trifecta of issues in entering this brave new world of lending.
When I really need to focus, I’ve noticed the process usually starts with decluttering both my mind and my environment. I love the quote, “Starve the distractions. Feed your focus.” To clear my mind before starting a project, I know that I have to be purposeful with my attention.
With the Senate considering Paycheck Protection Program reforms after the House passed its reform bill last week, now is the time for community banks to urge lawmakers to enact our recommended changes.
During the pandemic, three types of attacks and scams have risen sharply, and bankers should anticipate seeing more of these threats throughout the pandemic’s duration. This blog explains them and how you can protect your community bank.
With the pandemic representing a turning point in payments, community banks must take steps now to embrace digital channels without sacrificing the personal support customers expect from their community bank relationship.
This month CBU updated courses affected by pandemic regulatory changes . We're also excited to announce that only last week, we added some brand-new courses to our online training catalog.
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.
Despite numerous warnings from the FBI, IRS and others, fraudsters are capitalizing on the pandemic to take advantage of consumers, highlighting the importance of community banks in supporting their customers in their battle against this opportunistic fraud.
Necessity truly is the mother of invention. Community banks have all felt that over the past few weeks as they’ve implemented new innovations in response to the Paycheck Protection Program. But now we’ve moved into phase two: servicing these loans, which presents a new set of challenges.
Community banks had to beef up what they had in place and get creative to adequately address how to serve their customers amid a shutdown. And as the pandemic’s reach expanded, so too did the need to highlight the utility and usage of their digital offerings.
As parts of our country prepare to “reopen for business” what constitutes the new normal for our nation’s community banks will depend on several parameters. These include local pandemic conditions, state and federal guidance, business requirements and the needs of the local communities they serve.
What does $349 billion in government funding look like for an individual small business? A lifeline, according to many of the small businesses that applied for loans through the first round of the Small Business Administration’s Paycheck Protection Program.
More often than not, we don’t stop to recognize the good things that happen to our bank, employees, customers or communities. They tend to get lost in our day-to-day operations. So, why not get the year off to a positive start by embedding celebration into your culture? test
Due to what we expect is the result of an unprecedented number of community bankers working from home and reduced foot traffic in-branch, Community Banker University experienced an exponential surge in course enrollments for the month of March.
The Small Business Administration just announced that to ensure access for the smallest lenders and their small-business customers, its systems will only accept Paycheck Protection Program loans from lenders with less than $1 billion in assets between 4 p.m. and 11:59 p.m. (Eastern time) today, Wednesday, April 29
Community banks have always demonstrated courage and commitment in helping customers thrive in good times and in adversity. As bankers well know, with every crisis comes opportunity — and harnessing opportunities requires preparation.
In determining what this new business-as-usual will look like for your bank, it is important to identify where your customers are now and how their financial needs may change so that you can anticipate and deliver on their future needs.
Following this morning's relaunch of the Paycheck Protection Program, ICBA is hearing the many problems community bankers are having accessing Small Business Administration systems to process their PPP applications.
