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Andrew Ross Sorkin
Why is it that Nebraska businesses are getting 90% of PPP loans approved and NY/NJ businesses, the hardest hit, getting a fraction of that?
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Andrew Ross Sorkin Apr 30
One reason: SBA is processing community banks over big banks. Big banks like + have big market share in NY/NJ. In this instance, small biz clients shouldn’t be hurt by anti-big bank bias.
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Winnie O'Kelley Apr 30
Replying to @andrewrsorkin
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Andrew Ross Sorkin Apr 30
Replying to @winnieokelley
Well done piece!
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Steven D. Schroeder Apr 30
Replying to @andrewrsorkin
It’s big banks vs. small banks. If you bank at Chase, you got a portal to submit docs with zero customer service support. Zero. Then you couldn’t in any way update or amend your application. Weeks later they might finally review@it, and may reject with minimal explanation or
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Steven D. Schroeder Apr 30
Replying to @andrewrsorkin
They may put it in a very, very long queue for submission. At a small bank, they’ll tell you what they need, help you get it right, and then put all their efforts into getting your application submitted. It’s a night and day difference.
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Erica Jong Apr 30
Never elect TV personalities!
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JAS🐶 Apr 30
Never elect narcissistic axxholes that have been accused of sexual assault numerous times and tout business knowledge but really only ran companies into bankruptcy.
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Ivan the K™ Apr 30
Replying to @andrewrsorkin
Sounds like a question for Mnuchin, the next time you have him on.
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Rebecca Jarvis Apr 30
Which customers did big banks prioritize?
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michael ginn Apr 30
Replying to @andrewrsorkin
I am in NY and know of zero small businesses getting approval, and I have a thread of more than 150 business owners attempting to get approval.
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Kyle Munoz Apr 30
Orange Bank in Trust has helped me & lots of my clients. They have locations in Westchester, Rockland & The Bronx.... Chase Sucks - im moving all my accounts to Orange after this.
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