[Kevin Henry-Seacoast]

You’re right. I’d bet that roughly 5% of applicants have seen funding from the PPP. Many of these were for companies that really didn’t even need the money, but were well-connected or had great relationship with banker. The businesses that really need them aren’t getting them. For many, it’s already too late.

PPP in theory will help stem some of the job losses (or already delay them). 7(a)s are where it’s at. That’s the only way to get real help to survive the next 18 months of massive recession.

Bank in the South East: Over the last 3 weeks they have received and submitted applications in excess of $600Mil. They have received an allocation notice that less than 20% of the funds have been allocated....NOTHING funded.