Financial Institutions
PPP Alert – Senate Agrees to Extend PPP Loan Program to August 8th
The Senate passed a bill to extend the filing deadline for Paycheck Protection Program (PPP) loans late on June 30th, just hours before the Small Business Administration (SBA) was set…
Mercadien Webinar Replay: OCC’s Final CRA Rule – What You Need to Know
On Wednesday, June 24th Mercadien’s Financial Institutions Services Group hosted a one-of-a-kind presentation featuring the nation’s leading Community Reinvestment Act expert, Kenneth H. Thomas, Ph.D., author of The CRA Handbook…
The Main Street Lending Program: An Alternative to the PPP
The lender portal for the Federal Reserve’s Main Street Lending Program (MSLP) has opened as the alternative to the Paycheck Protection Program (PPP). Unlike the PPP, the Main Street Lending…
Contact Us for PPP Loan Forgiveness Processing Assistance
Mercadien is ready to assist you in facilitating the CARES Act Paycheck Protection Program (PPP) loan forgiveness processing. The SBA stated that Lenders are expected to perform a good-faith review,…
PPP Loan Alert – SBA & Treasury Issue Guidance on PPP Flexibility & Updated Applications
On June 10, 2020, the Small Business Administration (SBA) and Treasury Department issued an interim final rule to address changes made by the Paycheck Protection Program Flexibility Act (PPPFA). Streamlined…
Changes to PPP – What Should You Know?
On June 5, 2020, President Trump signed into law the Paycheck Protection Program Flexibility Act of 2020 (PPPFA). The PPPFA provides flexibility to borrowers attempting to maximize the benefits provided…
SBA Interim Final Rules on PPP Loan Forgiveness & Borrower/Lender Responsibilities
On May 22, 2020, new interim final rules were released by the Small Business Administration (SBA) providing guidance to borrowers and lenders regarding the SBA’s review process under the Paycheck…
NJEDA Update: Small Business Emergency Assistance Grant Program – Phase 2 Info Now Available
The New Jersey Economic Development Authority (NJEDA) recently announced $50 million in new funding and broader eligibility criteria for the Small Business Emergency Assistance Grant Program. Under the newly-expanded program,…
Mercadien Webinar Replay: Interpreting FFIEC BSA/AML Manual Updates
Manager Joseph Galdo, CPA, CFE, CAMS, and Supervising Senior Chrisitina Richardson, CAMS, presented a webinar Interpreting FFIEC BSA/AML Manual Updates on Thursday, May 21st. During the webinar, they went over:…
Important Business Considerations for the New Normal
Since the beginning of the COVID-19 pandemic and the issuance of stay at home orders and business shutdowns eight weeks ago, there have been many Federal and State moratoriums, executive…