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Senior Member
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Discussion Starter #1
This could affect marinas and many small operations and repair facilities for our boats

I am posting a link of the top 50 “ loans” from the government sponsored personal small business loans. The Congress had an inspector general in place to prevent and insure this money got to small mom and pop businesses, but our President said himself he would be the arbiter over who was needy to receive these loans/ grants.

Clearly the intent was very positive and done with small community businesses in mind. However the banks seem to have given it away to the businesses who they had relationships with already. This needs to be corrected or no matter how much is given out it will go to big business who can figure out how to influence the banks to choose them

Send a quick e mail to your representative or President to let them know how you feel.

https://www.npr.org/2020/04/21/839716980/some-not-so-small-companies-are-getting-small-business-loans-under
 

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bell ringer
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4,765 Posts
Actually i have had a sba loan. They just back it and provide funding, but your local bank submits it to them. I doubt currently a sba loan could even be done for a mom and pop as the banks are closed for this type of personal bankng. Doubtful most small business even have a business plan to support a loan app.
 

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Senior Member
Joined
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11,797 Posts
Discussion Starter #3
Actually i have had a sba loan. They just back it and provide funding, but your local bank submits it to them. I doubt currently a sba loan could even be done for a mom and pop as the banks are closed for this type of personal bankng. Doubtful most small business even have a business plan to support a loan app.
Don,

I had an SBA loan too.
They have changed the law/ rules. The application very basic and simple.
Banks choose to process current loan holders first, then these large corporations the loan was not intended for. The intent was to support the local neighborhood shops.
 
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