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Maybe a little red tape next time? Small business paycheck protection loan funds quickly exhausted
#3
I waded through the mire and my business was funded. It wasn't until the money was almost gone that they realized that most went to a small percentage of businesses. The cap is 500 employees. Near the end, they focused on small grants. Too late.

there were some questions that didn't apply to me. I know one involved franchises.

If they refund it, I really hope they start at the small grants and work their way UP. I think the larger businesses have more options like loans etc.

This is from a Yahoo Finance article, lost the link "Three-quarters of the loans were for $150,000 and under. Four percent of the loans were for over $1 million, consisting of nearly 45 percent of the total money disbursed."

So 4% of the loans got 45% of the funds. That's the issue. There were exceptions to the 500 employees in several sectors, I think hospitality and construction.
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Re: Maybe a little red tape next time? Small business paycheck protection loan funds quickly exhausted - by Racer X - 04-18-2020, 05:16 AM

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