Banks will be paid billions to process small business program

Banks will be paid billions to process small business program

The $350 billion small business support program begins Friday. The program will disburse in two months 12 times the dollars and possibly 20 times the number of loans as the Small Business Administration lent in all of 2019. To do that they’ll use banks that will be paid fees up to 5% and expected to average about 3% which would be over $10 billion. They can also favor their preferred customers.

Skeptic
Skeptic
Change Matters
Change Matters 1 months

The skimmers skim and the predators prey.

RJ of Cthulhu
RJ of Cthulhu 1 months

The banks don't want to do this on the gound level, there just isn't the manpower to process all of the loans that will happen.

Phil Scott
Phil Scott 1 months

Why aren't they doing this for free,to help, like others are? Scumbags.

Carol
Carol 1 months

American "corporate" greed!

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