The Small Business Administration and the Department of Treasury recently issued a set of Frequently Asked Questions about Paycheck Protection Program loan forgiveness. Below is a summary of the key information from the released FAQs: The FAQs clarified that C-corporation owner-employee health and retirement benefits are eligible PPP expenses in addition to their $100,000 salary cap. Eligible […]
With the onset of the global pandemic, businesses rolled up their collective sleeves and grimly faced the arduous task of shifting gears. And financial institutions quickly found themselves in the spotlight. When it comes to continued access to money, whether it be a loan, savings, or one’s paycheck, everyone feels the effect when that access […]
If you talk to a commercial real estate developer, they will say there is plenty of money out there for the lending and, believe it or not, it is cheap money. If you talk to a Realtor or homebuilder, they will tell you there is no better time to sell, buy or build a home […]
With the onset of the global pandemic, businesses rolled up their collective sleeves and grimly faced the arduous task of shifting gears. And financial institutions quickly found themselves in the spotlight. When it comes to continued access to money, whether it be a loan, savings, or one’s paycheck, everyone feels the effect when that access […]
We’re not No. 1, but No. 2 is pretty good. In a recent study, Huntsville ranked No. 2 among the best places for career opportunities in the COVID-19 recession . SmartAsset analyzed 200 of the largest metro areas across seven metrics related to employment, income and access to professional development through higher education or career counseling. […]
New economic impact numbers have been released and according to the Huntsville Madison County Chamber of Commerce Research Director Ken Smith, they provide a snapshot into exactly what kind of impact COVID-19 has had on our local economy, and how that information compares to the national numbers. While there is some bad news in the […]
Huntsville-based Merit Bank has reached $100 million in assets, the bank said in a news release. Last July, the bank announced in it had raised nearly $25 million in just a few short months through a private stock offering. Bank President and CEO Hill Womble cited the success to the support and confidence of local […]
Progress Bank is celebrating its 12th anniversary of serving clients across North and Central Alabama and Destin/Inlet Beach, Fla. The Huntsville-based bank opened in February 2008 with offices in Huntsville and Decatur. Progress Bank has more than $1.2 billion in total assets and Progress Financial Services has approximately $940 million in assets under management. Progress […]
Brooks Brown has been named vice president and commercial banking officer for Southern States Bank’s Huntsville office. He will be responsible for growing and originating deposit and commercial loan relationships, primarily in the Madison County market. With more than 20 years of banking experience in commercial lending and business banking, Brown joins Southern States Bank […]
Huntsville-based Merit Bank has announced a board of directors reflecting its philosophy of focusing on local small businesses. The board for the bank, which opened this summer, is comprised of entrepreneurs and small business owners. Merit Bank is among six percent of the banks which are Huntsville-based. “The directors guiding Merit Bank have been small […]
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