Chien: Now might be time for a small business loan
By Chia-Li Chien Many states, including California, identified a list of critical sectors to remain operational during the COVID-19 crisis. The rest of us need to work from home or close our businesses until further notice. The stock market reacts to the uncertainty in this public health crisis volatilely. The ripple effect causes the federal Read More →
Banks struggling with PPP loans for tri-county small businesses
Last-minute rules changes and a messy rollout mean small businesses and nonprofits will have to wait a little longer to get the help they’ve been promised under the CARES Act. The $349 billion Payroll Protection Program, a key part of the act, went live on April 3, but few banks were in a place where Read More →
Few tri-county lenders ready to accept CARES Act loan applications
April 3 was the first day small businesses could apply for new programs under the CARES Act, but last-minute changes meant only a few financial institutions in the Tri-Counties were able to roll out those options on opening day. Through hard work and preparation, Montecito Bank & Trust was able to accept initial applications when Read More →
Garufis: Loans available to help businesses survive
By Janet Garufis We have all witnessed first-hand the serious and immediate impacts of the pandemic on local small businesses, our friends, neighbors and ourselves. Many workers have been furloughed or are now unemployed as non-essential businesses close and others learn to operate under restrictions that provide safe social distancing. At Montecito Bank & Trust, Read More →
Dubroff: Loan program will stabilize America’s small businesses
Within the next week or so, thousands of small companies are going to be applying for loans — and possible loan forgiveness — under the Paycheck Protection Program or PPP that’s part of the $2 trillion in federal funding approved under the CARES Act. I’ve been studying the PPP since the first details began to Read More →
