Local lenders working with businesses through crisis

Restrictions meant to help curb the spread of coronavirus in the State of Wisconsin have led to an unprecedented slowdown in the economy with several industries such as retail, restaurants, and entertainment hit hard. Local lenders are trying to provide some relief. Senior Vice President of Commercial Lending at Nicolet Bank, Jamie Alberts, runs through some of the options.


Several organizations regulate banks. Recently, the FDIC asked that the Financial Accounting Standards Board allow banks to help commercial clients through the current economic challenges without being punished for it. If rules are not changed, any loan that is modified to interest-only payments for the short-term must be classified as troubled debt. The more problem loans a bank has in its portfolio, the greater the amount of cash it must keep on-hand in its reserves. Banks may soon find themselves being forced to watch businesses close due to short-term liquidity problems, or having to take emergency steps to meet capitalization requirements.


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