Value Walk, April 8 2020: Some Banks Have Already Closed Applications for PPP Loans
Jesse Van Tol: Some Banks Have Already Closed Applications For PPP loans
“Congress will need to invest more, that’s clear. But we’re also seeing problems with how the money is distributed, who’s getting it and who isn’t. Big companies have already lined up for their PPP loans. Smaller ones are still trying to figure out how the program works – and some banks have already closed to new applications. …
John Taylor: We Need To Watch Out For Lending Discrimination
“We’ll need more money invested to keep small businesses afloat. But we’ve also got to watch out for rules that make it harder for small businesses to get loans, and for lending discrimination, which was well documented before COVID-19. If regulators don’t take this into consideration, minority small businesses will be disproportionately affected, likely resulting in an even greater expansion of the racial wealth divide. …
