[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.

[WestCoastFunding]

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.

Right now the commingling of funds can’t matter. It has to be the speed of getting the cash out there and worry about oversight later. Let there be huge losses. Let there be waste. We are going to see a $5T hit to the economy. Getting cash out to these companies can’t be help up any longer.

[Kevin Henry-Seacoast]

Right now the commingling of funds can’t matter. It has to be the speed of getting the cash out there and worry about oversight later. Let there be huge losses. Let there be waste. We are going to see a $5T hit to the economy. Getting cash out to these companies can’t be help up any longer.

But, the trouble with this is you put the responsibility on the bank's back. If the money does not go where it was intended, you can cool believe the Feds are not backing the loan if it fails. We need to get the money out to the businesses quickly, but it needs to be done the right way.

No way in hell the Feds are eating a loss if the money is not used for purposes intended.

[WestCoastFunding]

But, the trouble with this is you put the responsibility on the bank's back. If the money does not go where it was intended, you can cool believe the Feds are not backing the loan if it fails. We need to get the money out to the businesses quickly, but it needs to be done the right way.

No way in hell the Feds are eating a loss if the money is not used for purposes intended.

If the FED becomes the lender, and let the loans be processed by the banks for fintech, there isn’t exposure to the banks. Let the banks/fintech make 5% so that it’s economical. As for commingling, if the borrower does, it’s converted to a loan without forgiveness. That’s still a good deal.

At this point these rescue efforts can’t be viewed in a way in which the Treasury intends to recover the funds. If they commingle they just won’t get access to the next tranche (there will be at least 4 tranches). This has to be seen as stimulus to fill the void left by consumer spending collapsing.

[Kevin Henry-Seacoast]

If the FED becomes the lender, and let the loans be processed by the banks for fintech, there isn’t exposure to the banks. Let the banks/fintech make 5% so that it’s economical. As for commingling, if the borrower does, it’s converted to a loan without forgiveness. That’s still a good deal.

At this point these rescue efforts can’t be viewed in a way in which the Treasury intends to recover the funds. If they commingle they just won’t get access to the next tranche (there will be at least 4 tranches). This has to be seen as stimulus to fill the void left by consumer spending collapsing.

Again, the Fed is not set up to do this. They will put the responsibility on the backs of the banks and if it goes even slight wrong.....never forgive the loans and the banks will eat them. Not going to happen and should not happen.