PPP Day 5:
1/ PPP is being processed by a good network of smaller banks, SBA lenders, etc. Good news. Because guidance came so late (and requires legal review by banks), it will take a bit more time for others to be ready, esp big banks.

2/Other good news is that on Monday we should have formal clarification/modification of affiliation rules to include VC backed startups. It's been floating around through Axios and just waiting for change. Huge.

3/For those asking about us. We have not discontinued any efforts to participate (i.e. we are not out) and are still working on standing up processes and doing our review of guidance.

4/ Because time is of essence, we have been working on securing some vetted partners as we/I don't have guidance on timing of when we are ready (and for that matter some other major players) will be ready.

5/The biggest issue I see right now is that many are struggling to find PPP lenders that A) are willing to take non-clients and B) can do this at real scale.

Would love suggestions on any. We will contact.