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PPP - Who got it and who did not

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PPP - Who got it and who did not. I have been amazed at who got the PPP funding. Below are my observations on whom was successful.


1. Companies who have good relationships with their bankers. You need to know your banker personally. Having only an account and not having a "relationship" won't get you to the finish line.

2. The size of the bank is a variable. The banks that are too large to fail who have companies/customers with a few million in sales. those companies/customers are like being the small fish in a large pond. Only the large fish get fed.

3. Being extremely prepared is helpful, having a great relationship with your CPA. Many large companies got the PPP because their CPA knew the banker and what would make him happy or they had their own CFO.

4. Having multiple entities appears to have worked. It appears, a separate FEIN was all that needed. The banker would view all related entities as one and would cross collateralize and make one loan, while this SBA viewed each business separately. It appears the SBA did not consider common ownership. This would allow companies who appear much larger get PPP. (This is my theory, maybe some banker could confirm)


Well we are set for another race to feeding trough. I hope these smaller companies are able to reach the finish line and get some funding.


Overall, I don't think the PPP program is meeting the needs of the people whom the press described as the recipients of the program.