|
If you intend to apply, you should do that through your existing bank relationships if they are SBA participants. This is because of the “Know your customer” requirements in banking these days - likely already established with your existing bank but a bit of extra effort and paperwork with a new bank relationship.
I was told that applications were trending toward $1T on Friday. This program will be oversubscribed. There is a question as to whether the SBA can enlarge it or if legislation will be needed. If this all is true, no idea how SBA and banks will allocate among applicants.
|