Read on Twitter
Listen Twitterverse. We need to talk.
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://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Down pointing backhand index" aria-label="Emoji: Down pointing backhand index"> https://twitter.com/SBAgov/status/1246898360860147712">https://twitter.com/SBAgov/st...
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
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& #39;t. We make bets banks can& #39;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& #39;s work of supporting small businesses, as we always have.
We are doing the yeoman& #39;s work of supporting small businesses, as we always have.
Let us keep doing that work. Let us take the risks others can& #39;t. We are ready to help.
@tedcruz @stevenmnuchin1 @SteveChabot thank you for your attention. Appreciate all the hard work you& #39;re doing to keep the country running.
