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Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There are two questionnaire forms on the Treasury: Form 3509 for for-profit borrowers and Form 3510 for non-profit borrowers. On December 9, 2020, the SBA released FAQ 53, which provides some clarifications on the questionnaire (the “FAQ #53”).
Update: Starting in March 2021, we saw borrowers with loans of $2 million or greater starting to receive requests for additional materials (such as the maintained documents) or being informed by their lenders that they were under “SBA review.” Also, in March, April, and May 2021, we saw several lenders (and perhaps the SBA) stop processing forgiveness applications while they were working on new First Draw and Second Draw PPP Loans. In late May, the le
Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness Applications and the detailed instructions for the revised and updated applications.
Live Venues Shuttered by Pandemic Could Start Getting Grants
Live Venues Shuttered by Pandemic Could Start Getting Grants
$16 Billion in the balance Share this story Published 1 hour ago Above image credit: Wick and The Tricks at Lemonad(e) Park (Courtesy | Todd Zimmer)
On a Friday night in Kansas City’s West Bottoms, comfortably distanced members of the crowd at Lemonad(e) Park tapped their toes and took in an evening of in-person live music.
Then, the skies opened up.
The night’s headliner, a local group called True Lions, didn’t even hit the stage. But if you asked a member of the medium-sized crowd shuffling to the exit in the downpour, they likely would have been happy to have seen any live music at all.
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LAS VEGAS, May 25, 2021 /PRNewswire/ GBank Financial Holdings Inc. ( GBank or the Company ) (OTCQX: GBFH), the parent company for Bank of George (the Bank ), today announced earnings for the first quarter of 2021 of $1.04 million, an increase of $0.36 million, or 52%, from the $0.68 million for the three months ended March 31, 2020. Earnings per diluted share increased to $0.08 for the three months ended March 31, 2021, up $0.02 from $0.06 for the first quarter of 2020.
Financial Highlights: March 31, 2021 compared to March 31, 2020
Total assets increased by $174 million, or 50%, to $520 million.
Net loans increased by $88 million, or 37%, to $327 million.
Total deposits increased by $154 million, or 54%, to $438 million.
GBank Financial Holdings Inc Announces Quarterly Operating Earnings prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.