Understanding the US Systems in Light of COVID-19

Listening to the news and understanding the relationships between the US systems and the current climate can be confusing. To provide expert knowledge on these subjects, please join us in discussion with Ido Aharoni, a public diplomacy specialist.

SBA PPP – PPP Flexibility Act*

The Paycheck Protection Program (PPP) Flexibility Act of 2020 updates several aspects of the SBA PPP. * On June 5, 2020, the PPP Flexibility Act of 2020 (the Act) was enacted impacting aspects of the SBA PPP. Key Developments 1. PPP loans made on or after June 5, 2020 shall have a minimum maturity of … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:Forecasters had their biggest miss ever on Friday in predicting the non-farm payrolls, which came in at 2.5 million after surveys said it would be -7.5 million. Models most likely failed to accurately account for the government’s relief response through the Paycheck Protection Program. The surge back was led by leisure and hospitality. As … Read more

Steve Kerr

Steve earned his BA degrees in Political Science and Theater from the UC, Irvine, an MS in Finance from Boston College and he has earned his Chartered Financial Analyst (“CFA”) and Financial Risk Manager (“FRM”) designationsYou can talk to Steve about Credit underwriting Approving Loans in our New Normal Portfolio Management in Economic stress Credit … Read more

John DePledge

John DePledge has a distinguished banking career spanning over 35 years in the Asset Based Lending field.You can talk to John about: Asset based vs Cash flow lending Working capital management ABL client qualification criteria Loan approval process Portfolio management procedures Partnership with Leumi commercial bankers

COVID-19 Updates

Branch closings Bank Leumi USA branches are temporarily closed (effective March 26, 2020). Dear Clients, To ensure the health and safety of our employees, clients, and community, we are temporarily closing the New York, Aventura, Chicago, and Los Angeles branches of Bank Leumi USA until further notice. We are committed to providing you with the … Read more

International Mail Delivery & E-Communication Update

Dear valued clients, The U.S. Postal Service has temporarily halted international mail delivery to certain countries as a result of the global pandemic. If you live in an impacted area, you will not receive paper mail from us at this time. In order to continue providing you the highest level of service, we are encouraging … Read more

CAPITAL MARKETS WEEKLY UPDATE

Macro Commentary:  Over the weekend, cities across the U.S. became hosts to large-scale protests, calling for justice and change in the wake of the death of George Floyd at the hands of a Minneapolis police officer. Some of these protests unfortunately devolved into looting and violence, causing clashes between protesters and police and the destruction … Read more

Weekly Reading List

Welcome to the latest edition of Leumi’s Weekly Reading List.  I hope that you and your loved ones are healthy and out of harm’s way.    “They say I’m old-fashioned, and live in the past, but sometimes I think progress progresses too fast!” ~ Dr. Seuss.  Perhaps it’s the amount of time I have been spending … Read more

SBA PPP – Loan Forgiveness*

 The Small Business Administration (SBA) published the Paycheck Protection Program (PPP) Loan Forgiveness Application*   On May 15, 2020, the SBA published the PPP Loan Forgiveness Application for borrowers. The Loan Forgiveness Application has four components, two of which must be submitted to the borrower’s lender:  PPP Loan Forgiveness Calculation Form (must be submitted to lender);  … Read more