[Kevin Henry-Seacoast]

It’s actually a whole lot of nothing. They’ve partnered with Resource bank (a bank that just isn’t doing these right now). Nothing is happening with PPPs until the Federal Reserve becomes the lender. I say let the Fed lend, and use the fintech guys to underwrite. Let the banks get back to doing 7(a)s.

The Fed is never and should never do that....they are just not set up to monitor the back-end to insure the funds go to the right place. The thought of having fintech help in the process might help, but they are not set up to handle the back-en either. If this occurs, the funds the fed is putting up will certainly disappear.

You need to have separate bank accounts set up to insure the money is being used as intended. Co-Mingling funds would be a disaster.