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COVID-19 resources

Coronavirus - COVID-19

Resources for banks to use

 

A caveat

Bankers, it's important to note that this situation is very fluid and regulations etc. are changing all the time. We are working diligently to keep this page updated as quickly and often as possible, but we urge you not to rely solely on this page for your resources and information.

Latest news

CBA update - May 29, 2020

CBA update - May 27, 2020 - And an afternoon update 

CBA update - May 25, 2020

CBA update - May 20, 2020

CBA update - May 19, 2020

CBA update - May 18, 2020

CBA update - May 13, 2020

CBA update - May 12, 2020

CBA update - May 11, 2020

CBA update: May 8, 2020

CBA update: May 6, 2020

CBA update: May 1, 2020

CBA update: April 29, 2020

CBA update: April 28, 2020 

CBA update: April 27, 2020 - Afternoon update 1  Afternoon update 2

CBA update: April 24, 2020

CBA update: April 22, 2020 - More PPP funding coming

CBA update: April 21, 2020

CBA update: April 17, 2020

CBA update: April 16, 2020 CONTACT CONGRESS NOW

CBA update: April 15, 2020

CBA update: April 14, 2020

CBA update: April 13, 2020

CBA update: April 10, 2020

CBA update: April 9, 2020

CBA update: April 8, 2020 - and an afternoon update

CBA update: April 7, 2020

CBA update: April 6,2020

CBA update: April 5, 2020 

CBA update: April 4, 2020 - and an afternoon update 

CBA update: April 3, 2020 

CBA update: April 2, 2020

CBA update: March 31, 2020

CBA update: March 30, 2020

CBA update: March 25, 2020

CBA update: March 23, 2020

 

Resources on PPP

 Assistance for Small Businesses

 

View the interim rule

Lender application form

Borrower application form

Form 3506 CARES Act 1102 Lender Agreement (submit to delegatedauthority@sba.gov)

You'll also need to submit the required incumbency certificate (form 1014)

 SBA promissory note 

IRS form 4506-T guidance from SBA

 

Paycheck Protection Program Lending Facility Term Sheet

 

 

The Small Business Administration has established a call center specifically for lender inquires, including E-tran. The number is 833-572-0502. The number is for lenders only.

 

According to new FAQs, lenders must make the first disbursement of no later than 10 days after approval. 

 

View some FAQs and talking points on PPP

 

 

· For a top-line overview of the program HERE

· If you’re a lender, more information can be found HERE

· If you’re a borrower, more information can be found HERE

· The application for borrowers can be found HERE

Additional information is available at Treasury.GOV/cares

Treasury begins disbursing Economic Impact payments to Americans 

FAQs on Economic Impact payments

 

 

Free resources

Watch a free webinar with attorneys' answers to bankers' questions on PPP loans

Watch a webinar with Rob Nichols, president and CEO of the American Bankers Association 

Watch a webinar with SBA and ABA reps from April 2

Watch an April 2 webinar with Fed economist

Colorado issues COVID-19 guidance for state-chartered banks

View a matrix of regulatory COVID-19 action 

View an executive summary of COVID-19 economic relief package

Summary of CARES Act

One-pager from U.S. Senate Committee on Small Business and Entrepreneurship on the CARES Act

ABA coronavirus communications toolkit, FAQs

Common practices for banks 

Download a free pandemic planning policy

Download a sample customer notice

Download a free COVID-19 help sheet

How coronavirus could affect your business's insurance

Coronavirus and the workplace

CBA's 3/12 webinar with
DDPHE, risk managers,
Employers Council

Information from regulators

Agencies issue pandemic planning guide 

Joint statement regarding CRA consideration

OCC resources

FDIC resources

Federal Reserve resources

Colorado Division of Banking resources

CFPB resources

CFTC resources

CBA 3/20 webinar with regulators
Purchase access to view 

Lending, lender employer resources

SBA COVID small business guidance

SBA COVID-19 resources

Polis secures funding for small businesses

Denver offering loans for small businesses

New state and federal paid leave mandates

GSEs, HUD to suspend foreclosures amid pandemic

Treasury, IRS issues guidance extending tax payment deadline 90 days

 

 

CBA 3/23 SBA webinar

Purchase access to view

                   

Congress has passed two COVID-19 related bills which the President has signed and are being implemented.  The third one, Keeping Workers Paid and Employed Act, is projected to provide hundreds of billions of dollars of economic stimulus and emergency relief.  Bankers need to know what is in development so you and your customers can plan ahead.  Senator Gardner and subject matter experts will review the legislation and its timeline.  While details of the bill are not yet certain, the below description is accurate as of March 19.  It also is believed that the Act will address a postponement of CECL and needed language to deal with TDRs.

 

The Keeping Workers Paid and Employed Actwould prevent workers from losing their jobs and small businesses from failing due to economic losses caused by the COVID-19 pandemic. The plan would provide cash-flow assistance through 100 percent federally guaranteed loans to employers who maintain their payroll during this emergency. If employers maintain their payroll, the loans would be forgiven, which would help workers to remain employed and affected small businesses and our economy to quickly snap-back after the crisis. This proposal would be retroactive to March 1, 2020, to help bring workers who may have already been laid off back onto payrolls.

 

Small Business Assistance – Targeted at small employers with <500 employees that would be eligible for the loans.  Loans would be immediately available through existing Small Business Administration-certified lenders, including banks and other financial institutions, and SBA would be required to streamline the process and the Secretary of Treasury would be authorized to make further enhancements to expedite delivery of capital to small employers. The size of the loans would be tied to an applicant’s average monthly payroll; mortgage, rent, and utility payments; and other debt obligations over the previous year. The maximum loan amount would be $10 million. Conditional upon business retaining their employees and payroll levels during the covered period (March 1, 2020, through June 30, 2020), the portion of the loan used to cover payroll and payments on pre-existing debt would be forgiven. Further, employers with tipped employees would receive forgiveness for additional wages paid to such employees during the covered time. The bill would provide $300 billion to support these loans.

 

Watch the webinar with US Sen. Cory Gardner 
regarding federal economic stimulus 
March 23, 2020

Contact Us

Colorado Bankers Association
One Sherman Place
140 East 19th Avenue, Suite 400
Tel: 303.825.1575
Fax: 303.825.1585
info@coloradobankers.org

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