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Compare the benefits of Old National Bank savings accounts to find the right option. Convenient savings, money markets, IRAs, and CD accounts are available.
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Three Narratives Driving CFO Priorities In The Covid-19 Era And Beyond
Major crises are said to accelerate pre-existing trends, but they also expose the true nature of things. Covid-19 has walloped corporate finance groups with both experiences.
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Transportation Trends & Best Practices
The global pandemic, ecommerce boom and high demand across most transportation modes right now have all impacted Midwest transportation providers. Here’s how companies are adapting to the shifting environment and planning for the future. A center of logistics and transportation activity, the Midwest is not only a contr
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The Capitol Theatre in Flint, Michigan, originally
The Capitol Theatre in Flint, Michigan, originally opened in 1928 as a W.S. Butterfield movie house. The ornate theatre was designed by architect John
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How To Network Gracefully In The Time Of Social Distancing
In my previous life–which is the one I was living until about three weeks ago–I committed to connecting four women each day during the month of March. The #Connect4Women challenge is an initiative conceived by Jennifer DaSilva out of pure generosity. DaSilva, as president of creative agency Berlin Cameron, had already
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Providers place inordinate trust in patient identity practices
Providers may be placing too much trust in cybersecurity practices that are not sophisticated enough to deter high-level attacks by hackers. That’s the result of a survey of 100 participants from healthcare organizations, which found discrepancies in cybersecurity preparations and actual marketplace reality. The resear
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How to help employees who are caregivers during the COVID-19 crisis
In the midst of the novel coronavirus (COVID-19) pandemic, employers scramble to set up and manage remote operations while they adjust to an ever-changing business climate. Their employees are scrambling, too, as they make arrangements to blend work from home with family responsibilities and other family members whose
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John V. Moran, IV
John V. Moran, IV is the Chief Financial Officer and Chief Strategy Officer at Old National.
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Financial Education Courses
Old National provides financial education workshops for employers, non-profits, schools and more. Online and free in-person options available.
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Why is LIBOR being discontinued?
LIBOR was introduced in the 1980’s as a benchmark interest rate that was intended to reflect banks’ average cost of short-term, wholesale unsecured borrowing. Over time, and particularly during the financial crisis that began in 2007, banks became less and less reliant on inter-bank lending. As a result, the number and dollar volume of transactions from which LIBOR was derived declined dramatically. To make up for this shortfall, LIBOR panel banks resorted to using “expert judgment” when submitting various rates used in calculating LIBOR. This left it susceptible to manipulation and fraud.
In 2017, the UK Financial Conduct Authority (FCA), the regulator for LIBOR, announced that after December 31, 2021, the panel banks would no longer be required to submit settings for LIBOR. (This has since been revised to June 30, 2023, for most LIBOR tenors.) This announcement effectively started the countdown to the end of LIBOR.
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Am I eligible for an SBA loan?
SBA lenders and SBA loan programs have different eligibility requirements. However, there are some basic requirements:
- Location: Your business must be physically located and operate in the U.S.
- Business type: Your business must be for-profit and in an eligible industry.
- Investment: You, as the business owner, must have invested time or money into the business.
- Size: Only small businesses qualify. The definition of a "small business" is based on number of employees or average annual receipts. Size standards information can be found on the sba.gov website.
- Loan application history: You must not be able to get more traditional financing at favorable terms.
You should also be able to demonstrate your ability to repay the loan and have a sound business purpose and plan.
To learn more about SBA loans at Old National, please visit our SBA Loans website page.