The new funding allocates about a third of the funds to smaller lenders like community banks and credit unions, but they're also backed up with applications: Smaller banks have they're doing an entire year worth of loans in one weekend. Meanwhile, it's not clear at this point if Congress would supply a third round of funding — and without that, it's likely that thousands of small businesses will still be left without access to relief loans.
While Chase's approach isn't a solution to these concerns, we think its transparency is a good move, as it will help temper customer expectations. The actual funding funneled through the PPP isn't in banks' control, but they're still bearing the brunt of criticism around its shortcomings: Banks are the ones processing and disbursing the loans, and they stand to reap billions from the fees the Small Business Association will pay for facilitating them.
Where did it go? What did they do with it? Who did they give it to?
I’m still waiting on mine and I filed taxes already for 2018-19. If you go to the IRS website they can’t find my tax information and they’ll say it hasn’t been processed yet. I know other ppl still waiting as well who filed way before me. PPP Trump administration setup is a joke
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Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: BusinessInsider - 🏆 729. / 51 Read more »