3 ms·
Some quick numbers: - 10bn in Fees - 4975 Lenders - $2m per Lender I think this number doesn't seem unreasonable given the fact that the banks themselves ar
by erikig 7y ago
Some quick numbers:
- 10bn in Fees
- 4975 Lenders
- $2m per Lender
I think this number doesn't seem unreasonable given the fact that the banks themselves are businesses - they have employees, training, technology, risks etc.
- deleted 6y ago[deleted]
- triceratops 6y agoIs it a ton of extra work for them (the banks) though? With the way things are banks are no longer doing much of other things they normally would - business loans, mortgages, auto loans etc. This program would merely occupy those otherwise-would-be-idle employees' time. And the banks aren't loaning out their own money either, so where's the risk?
- heartbreak 6y ago> Is it a ton of extra work for them though? Anyone who attempted to obtain a PPP loan from their local bank knows that yes, it was a ton of extra work for them.
- triceratops 6y agoFor the bank or the applicants? And was it on top of work that the bank was already doing? Because as I argued, many of the bank's normal functions were effectively turned off so it's not extra work for the bank. It replaces the other work they'd be doing.