I would even recommend small to large.
Small business most in need of help are having their applications passed over by banks who profit more by processing larger loans. An obvious abuse of the stimulus.
First-come, first-serve needs to be the standard for the #PPP loans. @stevenmnuchin1 we need to get this fixed!https://twitter.com/USATODAY/status/1252223994671116289 …
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Are you telling me that not a single person I’m the room recognized the moral hazard here? Yeah...giving banks an origination fee on the amount of the loan gave an incentive to banks to process the bigger ones first.
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I believe Wells Fargo isn't the only one. It's happened to us and we are at a small local bank trying for this next go around.
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There should be no "points" or fees based upon a percentage of the loan. Just a flat fee for processing. Take away the incentive for larger loans.
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Wells Fargo go figure.
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