Josh Braun, Seth, Frank discussed on Tom Sullivan

Automatic TRANSCRIPT

Well like I said this this whole government response to the pandemic open fast but there are mistakes that are made and Josh Braun talked about this today about the banks I think we all know the banks most of them the best match for the big banks were were not aired for the influx of the PPP applications yeah I I I think I think we we scream that the banks to get the money out the door as quickly as they could and that's what they did we talk about a fourteen day period for this money to get out to small business but the reality is almost the entire first week was spent with banks going back and forth to the government to clarify things they don't even have one set up so actually we pushed a year's worth of loans through the banking system get a weekend and bankers you know people say well look at the size of these businesses wall it's not about the size of the business we're talking about two and a half months worth of payroll so of course there are more employees involved with the bigger numbers but I agree with Seth I think we had we had to distinguish better between a company classifying each of their restaurants as its own small business so that this wouldn't happen but to be Frank it's still not enough money we only covered one point six million businesses there are six million with under five hundred employee under five hundred place so there's more money needs to go out and maybe this time they'll do a better job explaining what qualifies who doesn't yeah I doubt it but good good wishful thinking there Josh Raj I'm sorry ray in Ocala Florida hi ray welcome you're on the Tom Sullivan Show.

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