Brock Blake on PPP Loans

Writing in Forbes, Brock Blake, the CEO of Lendio shares the good, bad and ugly of the Paycheck Protection Program; as many are already aware funds have now been exhausted, with 1.6 million business owners receiving the $349 billion allocated; this represents only 6% of small businesses, leaving the majority of small business owners still struggling; the initial launch was scrappy but some financial institutions were able to nail down their processes and accept applications; Lendio processed 70,000 applications for approximately $5.8 billion; to give context to this number, the SBA processed 60,000 in total in 2019; as institutions scrambled, large banks prioritized existing customers and the SBA did not approve every FDIC bank and credit union which challenged many small business owners; there were also ever changing requirements which caused many applications to be returned from the SBA; Blake shares more statistics on PPP loans, how some small businesses don’t have money yet and what comes next. Forbes

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.