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K·Coe Insights

How COVID-19 is Impacting Banking Regulations

By K·Coe Editorial | May 14, 2020

Reading Time: 3 minutes Changes in Appraisal Timelines Banks have found it increasingly challenging to obtain, in a timely manner, the required appraisals and evaluations needed for real estate-related financial transactions. In response, the OCC, FRB, FDIC, and NCUA agencies, working with state financial regulators, have issued an interagency statement to specifically address those …

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Accounting for PPP Loans

By K·Coe Editorial | May 14, 2020

Reading Time: 2 minutes As part of the CARES Act, many banks are participating in the SBA’s Paycheck Protection Program (PPP), providing funds to hundreds of Americans and small businesses.  Once the loans are funded, then what?  We’ve received many questions on how to account for the loan processing fees – such as, “Can …

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PPP Loan Update: SBA Releases ‘Good Faith’ and Safe Harbor Thresholds

By K·Coe Editorial | May 13, 2020
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Reading Time: 2 minutes Update: Safe Harbor date extended to May 18, 2020 for PPP loan repayment. In response to uncertainties surrounding the good faith certification requirement on Paycheck Protection Program (PPP) loans, the Small Business Administration (SBA), in consultation with the Department of the Treasury, has announced a determination of safe harbor for …

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Fed Provides Clarity on Main Street Lending Program for Small and Medium-size Businesses

By K·Coe Editorial | May 1, 2020
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Reading Time: 3 minutes Following its release of the Main Street Lending (MSL) program three weeks ago, the Federal Reserve has issued more detail on guidance, answered Frequently Asked Questions (FAQs), and made some adjustments to the original scope of the program. “After listening to the press conference delivered by Fed Chair Powell, and …

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PPP Certification Criteria: 3 Questions for Every Business

By K·Coe Editorial | May 1, 2020
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Reading Time: 3 minutes Recently, we learned that Shake Shack, the LA Lakers organization, and many other businesses have returned Paycheck Protection Program (PPP) funds due to concerns over alleged misuse of the program’s loan criteria.  In response to these highly publicized events, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza …

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PPP Update: Good News for Businesses with H-2A Workers

By K·Coe Editorial | April 28, 2020
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Reading Time: 2 minutes Earlier in April, the Small Business Administration (SBA) and Department of Treasury addressed whether businesses should include any non-U.S. laborers in their employee count applicable to the Paycheck Protection Program (PPP) by simply excluding any compensation of an employee whose principal place of residence is outside of the United States.  …

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