that should have been understood from the beginning. they got 1-3% of the amount they 'processed' and 'processing' meant forwarding a one page loan app prepared by the borrower to the sba for instant funding (essentially doing nothing)
remember in the 1st PPP funding no one you personally knew got approved? that's because all the big dollar loans were getting pushed through by banks so they (the banks) could collect a bigger fee for doing less paper pushing. really f'ing obvious. at least there were 3 subsequent rounds of funding that went through so legit small businesses could get some funding. f'ing a-holes
that should have been understood from the beginning. they got 1-3% of the amount they 'processed' and 'processing' meant forwarding a one page loan app prepared by the borrower to the sba for instant funding (essentially doing nothing)
remember in the 1st PPP funding no one you personally knew got approved? that's because all the big dollar loans were getting pushed through by banks so they (the banks) could collect a bigger fee for doing less paper pushing. really f'ing obvious. at least there were 3 subsequent rounds of funding that went through so legit small businesses could get some funding. f'ing a-holes
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