The coverage of the Paycheck Protection Program and PPP forgiveness has been so vast that many of the additional loans, grants, and other aid given since Coronavirus shutdowns began in March have been brushed to the side. With such a focus on the forgiveness of PPP loans, many loan recipients who received additional government aid may be in for a shock when they determine their forgiveness amount.
You may have already heard about our PPP Forgiveness solution, Teslar PPP Forgiveness, but did you know we are integrated with SBA’s API? The direct API connection allows the lender to submit the application form with supporting documents to the SBA for approval easily through Teslar, saving you from having to use 10+ documents, answer questions and submit for each loan on your own to the SBA.
Teslar is excited to announce that we will be attending the 2020 Jack Henry Annual Conference (JAC) & TechConnect in October! We’re excited to see this conference go virtual and we’re ready to navigate this new way of networking.
The Paycheck Protection Program is top of mind for many small businesses, CPAs, and lenders. Understandably, many loan recipients are chomping at the bit to begin the forgiveness process and have some certainty regarding their payback amount. While the eagerness to get the PPP forgiveness process started is not unfounded, experts are advising against getting in a rush to apply. There are many reasons waiting might be the best option.
Experts have been predicting a coming recession long before Coronavirus was on the world’s radar, but nobody was quite expecting the global health pandemic that is currently wreaking havoc on America’s economy. Current economic trends are being compared to those of The Great Recession of 2008. While there are some discrepancies between the two, this still leaves bankers with a little bit of an advantage in knowing what’s suspected to come— many loans are going to become criticized.
Summer will be ending in just a few short weeks and perhaps the craziest, scariest, most uncertain school year of our lifetime will begin, affecting not just school-aged children and their families, but employers, coworkers, friends, relatives, everybody. While the whens and hows are still up in the air, it is for certain that school will resume next month one way or another.
No matter the year, month, or season, no matter the state of current affairs-- cybersecurity is important! In fact, scams have been on the rise since the COVID-19 pandemic left the world on lockdown (read more on these scams here), so there’s no better time to double check your security measures. Check out our infographic below as we share some wisdom on secure passwords from Teslar’s VP of Support, Chris Whittle.
What a whirlwind second quarter we just finished! This time last year (heck, even Q1 2020), we could never had envisioned all the excitement and busyness of these past three months. With COVID-19 reaching pandemic level shortly after the start of Q2, we’ve changed our structures and routines a bit, tried our hand at remote training, seen great milestones accomplished, and created three new products.
The COVID-19 pandemic has radically changed nearly every facet of American day-to-day life to where most citizens do not see our daily routines ever returning to what we once considered “normal.” When we say every facet, we mean every facet. Mental, physical, familial, financial, personal, and professional. A lot of the effects we’ve felt from the pandemic have been less than savory, but this pandemic is also changing some things for the better. Below are just a few life lessons many Americans have learned from this pandemic (so far) regarding banking and finances.
Prior the coronavirus outbreak, there was a growing rate of stores and businesses no longer accepting cash. While this may seem like a natural progression as technology and digital banking grow, this cashless model was actually met with a lot of backlash. Just six months ago in January 2020 (which may feel like years to many of us), New York passed a bill banning businesses from rejecting cash payments nearly unanimously.