Obsidian Market Update 7/10/20

Good morning,

Amid the dog days of summer, we hope you’re able to get some relaxation and sunshine. This week, we want to share an update on the PPP loans, and then we’ll spotlight Kelsey Easter, a member of the planning team.

PPP Updates

As of June 27th, almost 4.8 million PPP loans have been approved, totaling nearly $519 Billion. The average loan size is $108,000, with over 65% of these loans under $50,000. The original deadline to apply was June 30th. However, with $134 billion still available for funding under PPP, the U.S. House of Representatives and Senate both unanimously passed legislation extending the deadline until August 8th, 2020. This gives businesses additional time to receive a PPP loan but does not allow borrowers to receive a second loan. Now, let’s get to know Kelsey!

What is your role with Obsidian, and how long have you been there?

I started with Obsidian almost two years ago now. A mutual friend introduced me to Pat, and I was unhappy in my current job and looking for a change. I had worked in public accounting and then private accounting. Making the switch over to finance has been interesting, I’ve learned a lot. I’m currently on the planning team, so I prepare a lot of the reviews we do with our clients. And work on other projects that pop up.

I really liked the switch to finance, and I get to work with a great group of people. I enjoy being on a small team. Everybody is so understanding and very flexible. With this many kids, it seems like someone is sick constantly, and they’re always willing to help me out if I needed to take a day off or something.

What is your life like outside of work?

My life is a lot! I have five kids, age nine and under. The two youngest are only 15 months apart, then three and almost two. Life is very busy. My husband is a police officer, and he’s been working a lot, so I’ve been in single-parent mode. With quarantine, we haven’t been doing much, and are starting to see small groups of family. We go to my parents’ beach house when we can, but not much in the day-to-day.

That probably doesn’t leave you a lot of time for hobbies!

No, the only thing I do for myself is working out, I give myself an hour a day for that. Someday I’ll get back to reading something other than kids’ books.

How has COVID affected your work/life balance?

I work part-time, and I’ve been remote since I started. The only significant impact was when schools shut down, and the kids were home, which was fine until we had to do online learning. They’re in a Montessori school, so the older two are more self-sufficient, but they’re young, so I had to help them with the technology. My five-year-old, who was in the four-year-old class, needed me to sit with him through everything. I was trying to balance work with being his teacher and entertaining the two youngest kids. Now that that’s over for a few months. I’m back to my routine of working in the morning before everyone gets up and then during their naptime.

Past performance is no guarantee of future results.  Securities offered through Triad Advisors, member FINRA/SIPC. Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.