Enterprise Risk Management
Mercadien Webinar Replay: Credit Risk Management During Uncertain Times
Jorge Olazagasti, MBA, Director & Melissa Correa, CRCM, Manager, of Mercadien’s Financial Institutions Services Group presented a webinar Credit Risk Management During Uncertain Times on Thursday, August 27th. During the webinar, they went over: The immediate impact of the pandemic on credit risk management Reviewing state specific lending initiatives How to monitor initiatives & delinquencies How…
Your Estate Documents Amid the COVID-19 Crisis
OK so, a couple weeks of quarantine down, you’ve caught up on all the shows/movies you’ve been wanting to see, cleaned out that junk drawer, read a book, now you’re bored – and from everything we’re hearing all or most of April will be seen from inside our homes as well. I bet you haven’t…
Paycheck Protection Program Application Processing and Other Back Office Assistance
SBA approved lenders, we know supporting your communities is your priority and supporting you is ours! Are you a financial institution looking to assist borrowers with obtaining relief funds available through the new Paycheck Protection Program (PPP)? The Mercadien team stands ready to help our bank clients move quickly to ease the friction and administrative…
Business Interruption Claims Assistance – How We Can Help
Organizations are experiencing disruption like never before as a result of the COVID-19 pandemic, and there is a lot of uncertainty surrounding what insurance will cover, what assistance is available and how to recover losses from an unprecedented event like this. As a business owner or executive, you may be asking yourself: What is my…
The Interim Final Rule from the SBA
Many of you have reached out to us over the last few days in connection with determining the CARES ACT loans and other options available to you and your business. In reference to the Paycheck Protection Program (PPP), there has been a lack of clear guidance about payroll costs eligible towards calculating your loan amount…
Navigating Through Business Interruption
Business owners in our region have proven to be resilient over the years, especially when disaster strikes or other challenging circumstances arise. Some business owners obtain business income insurance coverage to protect against temporary or even permanent interruptions in their operations due to unforeseen events such as natural disasters, floods, fires, etc. Business income coverage…
Force Majeure Considerations Relating to COVID-19
While business owners attempt to find creative ways to protect their assets and operate during the Coronavirus (COVID-19) pandemic, one term that keeps creeping into conversation as it relates to contracts and leases is force majeure. Force majeure is a French phrase meaning a superior force. Sometimes referred to as an “act of God,” force…
Small Business Forgivable Loan Program Under the CARES Act & Other Relief
The Senate and House have passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act which is a stimulus package for the nation and includes several important opportunities for small businesses to receive assistance. The law was signed by the President on Friday, March 27, 2020. In this legislation, there are several relief programs for…
An Overview on the CARES Act & What It Means For Businesses
The Coronavirus Aid, Relief and Economic Security (CARES) Act (the “Act”), a $2 trillion stimulus package, has officially been signed into law. The bipartisan deal allocates $2 trillion in an effort to mitigate the fallout from the COVID-19 crisis, including $1.5 trillion in spending and tax cuts and $500 billion in loans—$454 billion of which was…
An Overview on the CARES Act & What It Means For Individuals
The Coronavirus Aid, Relief and Economic Security (CARES) Act (the “Act”), a $2 trillion stimulus package, has officially been signed into law. The bipartisan deal allocates $2 trillion in an effort to mitigate the fallout from the COVID-19 crisis, including $1.5 trillion in spending and tax cuts and $500 billion in loans—$454 billion of which was…