Independent businesses struggle to survive as federal government fails to deliver payroll protection loans.
Many smaller customers, on the other hand, were left trying to input the documents themselves, the person said. In an email to clients, a JPMorgan executive said the bank unit that serves smaller firms received applications from more than 75,000 clients in the program’s first hour on April 3, and that the number grew significantly the following days.“We had more than 2,000 Chase employees work over that weekend to review these forms, contact as many people as possible, and help position them to complete their application,” said Jennifer Roberts, chief executive of the unit, Chase Business Banking.
Suprise ,Suprise !! 😃😉
The smaller banks were much more efficient getting this money to smal businesses...I wonder if government works the same way?
There is no end to the greed. It's astonishing. And very, very sad.
Get That boost you need, Stay on top!!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big banks accused of favoring more lucrative small business loans in coronavirus programFour of America's biggest banks have been accused of harming thousands of coronavirus-hit small businesses by unfairly prioritizing emergency loan requests from large customers to earn fatter fees No... Anyone at all surprised that WellsFargo is in the mix yet again for doing the wrong thing? Is anyone surprised?
Source: CNN - 🏆 4. / 95 Read more »
Congress expected to announce deal on latest coronvirus relief, small business loansSenate Minority Leader Schumer says lawmakers have reached a deal with the White House on a nearly $500B interim coronavirus bill that includes additional funds for the small business loan program as well as more money for hospitals and testing. Save most of it for Georgia, I give them 3 weeks to abandon their new life. 🍑🍑🍑🍑🍑 Anything for people? Like Canada... possible expansion of the snap program?
Source: MSNBC - 🏆 469. / 51 Read more »
Coronavirus economic updates: Personal info of nearly 8,000 small business loans applicants exposed on SBA websiteJUST IN: The personal information of nearly 8,000 Economic Injury Disaster Loan applicants was potentially exposed to other applicants on the SBA's website, the Small Business Administration confirms. This is indecent exposure for sure Educate yourself.....!!! More incompetence from this administration
Source: ABC - 🏆 471. / 51 Read more »