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The "free" loan is reportedly difficult to get since the government leaned on banks to provide these and banks are doing whatever they can to avoid the situatio
by tfandango 7y ago
The "free" loan is reportedly difficult to get since the government leaned on banks to provide these and banks are doing whatever they can to avoid the situation. For instance, Wells Fargo says they are out of those loans and Bank of America tried to make these loans dependent on already having another loan with them (policy revoked after outcry).
Small businesses in our town are laying everyone off instead of waiting on these loans b/c the employees can qualify and receive unemployment immediately now. Once things open again, they plan to rehire the same people if possible.
All this is anecdotal but seems to me that new unemployment rules are part of the rescue package (I don't really consider it a stimulus package)