I work high up at a company still considered an SME, however pretty large. Just had a discussion with my boss. No longer going to be applying for the stimulus loan… WTF. Why? I inquire.
So our bank, a bulge bracket thiqq papi bank – has been given NO GUIDANCE on this loan package.
What does this mean?
It means the bank doesn’t know:
Whether they can make money on this loan…
What happens if the debt defaults…
Will the banks be reimbursed for the amount they loan if it is forgiven…
How the banks will be reimbursed.
And basically any practical and operational subject about this stimulus.
In short, this stimulus was rushed through with no guidance to the very people supposedly administering this loan program, and they have no idea what they are able and not able to do, so they are just not going to accept loan applications until they get guidance.
We are screwed, this stimulus retarded.
IWM $95puts April 17th
Spy 220 puts April 17th
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.