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There is a BIG mistake in this bill. HUGE. In this time of pandemic, the @SBAgov is not allowing non-bank lenders to offer any of the below programs
https://twitter.com/SBAgov/status/1246898360860147712
There is a BIG mistake in this bill. HUGE. In this time of pandemic, the @SBAgov is not allowing non-bank lenders to offer any of the below programs
https://twitter.com/SBAgov/status/1246898360860147712
Why does this matter? Non-bank lenders - especially factors like Dare Capital & the 1000s represented by @SFNet_National @FactoringAssoc - are willing to take risks banks can't. We make bets banks can't.
And we provide the 1 critical thing every small business needs right now: Working capital. Payrolls, suppliers, taxes: they all depend on working capital.
cc @marcorubio @JohnCornyn @SteveChabot
cc @marcorubio @JohnCornyn @SteveChabot
To give you an idea of the market size: @SFNet_National estimates there are 1,000 factors & ABL providers, deploying about $100B in capital to tens of thousands of SMEs.
We are doing the yeoman's work of supporting small businesses, as we always have.
We are doing the yeoman's work of supporting small businesses, as we always have.
Let us keep doing that work. Let us take the risks others can't. We are ready to help.
@tedcruz @stevenmnuchin1 @SteveChabot thank you for your attention. Appreciate all the hard work you're doing to keep the country running.
