that Bank of America quickly denied him funds to help pay his employees, despite his being a business customer there for 17 years.
Business Insider spoke with experts and business owners, pored through reports from our newsroom and other media sources, and stayed glued to the grumblings of exasperated entrepreneurs across social media to piece together a troubling puzzle: how a much anticipated federal-relief program floundered so spectacularly in 24 hours, leaving the bedrock of America's economy without aid or hope just when both were most needed.
Treasury Secretary Steven Mnuchin set a big date on the calendar: Small-business owners would be able to visit their usual banks or fintech platforms to apply for funds on April 3 — barely a week after the bill was signed into law.Red flags mount days before PPP opens to public Revised guidance from the Treasury released late on Tuesday, March 31, further infuriated banks and created a melange of shifting rules that added to the confusion of the short timeline.
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