Entries by Debbie Bramstedt

PPP UPDATE 06-04-2020

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 […]

CREATING A NEW BUSINESS PLAN FOR OUR NEW BUSINESS REALITY

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 […]

UNDERSTANDING THE ECONOMIC INJURY DISASTER LOAN (EIDL)

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 […]

GEARS AND GADGETS WEBINAR

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.

PPP LOAN FORGIVENESS PROCESS

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 […]

HOW PLATINUM BANK IS HELPING BUSINESSES OBTAIN PPP LOANS DURING THE COVID-19 PANDEMIC

The federal Paycheck Protection Program (PPP) is providing a $349 billion lifeline to small businesses across the United States. The PPP offers small businesses forgivable loans to cover the cost of paying their employees during the COVID-19 pandemic. For many companies, PPP loans have made the difference between laying employees off and keeping everyone on the payroll.

PAYCHECK PROTECTION PROGRAM (PPP) LOAN INFORMATION

Beginning Friday, April 3, 2020, the SBA will begin accepting applications for Paycheck Protection Program (PPP) loans. Funds in this program are expected to run out quickly. There are specific calls to action you must do for potential entry into the program. Once applications are approved and accepted, Platinum Bank will work with you and […]