Planning for 2021 may feel like a daunting task. Your team is working remotely, and 2020 has thrown a wrench in your strategic plans. Is it possible to be successful this year? Absolutely, if you focus on your people, remain adaptable, and embrace a growth mindset. 1. Focus On People Business has always been about […]
On January 6, 2021, the U.S. Small Business Administration released initial details and guidelines for the updated Paycheck Protection Program (PPP) Second Draw Loans. The full text of the guidelines can be found here. Second Draw Loans will be made to borrowers who already received loans in round one of the 2020 PPP process. Final guidance […]
What keeps you up at 3 am? If you’re like most business owners, it’s likely issues related to your company’s finances. Concern about your company’s performance is part of being a responsible business owner. It shows you’re invested in the organization and the wellbeing of your employees. Managing the financial success of your company isn’t […]
Whether you’ve hired a high schooler or college-aged student at your business recently or have teens at home, teaching financial literacy is vitally important. It’s in the best interest of our future workforce to be wise with their money, make responsible spending and saving decisions, and experience financial success. Teaching teenagers how to be wise […]
In these times of economic uncertainty, talking with your kids about money is more important than ever. Whether you’ve hired a high schooler or college-aged student at your business this summer or have kids at home, teaching financial literacy is vitally important. We all want children—our future workforce—to be wise with their money, make responsible […]
The House and Senate approved changes to the Paycheck Protection Program that is now headed to the President for signature. The changes are more favorable for PPP Borrowers. It is important to note, once the President signs the new legislation, the final rules still need to be written by the Small Business Administration. This means […]
Dear Platinum Bank Family, We are entering the fourth month of the COVID-19 pandemic, which has had profound effects on our businesses, our employees, and our families. At Platinum, we have worked hard over the last few months to help our clients submit PPP applications and plan for a future that none of us could […]
Many business owners who applied directly with the SBA for an Economic Injury Disaster Loan Emergency Advance are now receiving notification that they have been approved for an Economic Injury Disaster Loan. Before accepting the Loan, Borrowers should carefully read and understand the restrictions and requirements within the Loan Documents. Not adhering to the provisions […]
View the online presentation of Gears & Gadgets “Fearless Crisis Leadership in Manufacturing” virtual panel discussion.Gears and Gadgets, presented by Minnesota Manufacturing Executives (MME), is made possible by a dedicated Sponsor Team of which Platinum Bank is a member.
On Wednesday evening, the $349 billion Paycheck Protection Program (“PPP”) fund was exhausted. Washington is considering additional funding but until that occurs, banks cannot secure authorization for any new PPP loan requests. If you received notice that your loan was authorized, your funding is secured. If new funds are allocated, Platinum Bank will process the […]
