Quote Originally Posted by Kevin Henry-Seacoast View Post
Just keep people up to date on some of the aftermath of PPP. 100% of our ABL and factoring clients received PPP because we are a division of the bank. In a lot of these cases of fraud, the fraudulent prospect applied for PPP at banks where they were not already customers. Not following KYC rules can bite you on the ass. Clearly someone did not due a thorough job vetting this PPP loan and others mentioned on this thread.
Thanks Kevin for the thoughtful response to Flexible Capital's questions. Great answer.