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Small Business Administration official blasts big banks, accusing them of dragging their feet on coronavirus assistance for struggling companies

1 month ago   |   By Business Insider

A Small Business Administration official was recorded chastising big banks, accusing them of purposefully slowing down a program to lend to small businesses hurt by the coronavirus.
Joseph Amato, a district director in Nevada, made the comments on a webinar hosted by a Las Vegas attorney.
"Some of the big banks that had no problem in taking billions of dollars of free money as bailout in 2008 are now the biggest banks that are resistant to helping small businesses so that should tell you something," he said.
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A top federal official blasts big banks that took bailout money in 2008 for being 'resistant' to help struggling small businesses

A top federal official blasts big banks that took bailout money in 2008 for being 'resistant' to help struggling small businesses

1 month ago   |   By Business Insider

A top federal official in the Small Business Administration blasted big banks that took bailout money in 2008 for not quickly loaning money to struggling small businesses weathering the fallout from coronavirus.
SBA official Joseph Amato's comments reflect concerns that banks aren't moving fast enough to deepen their involvement in a new small business aid program.
"Some of the big banks... and this is just editorial... that had no problem taking billions of dollars of free money as bailout in 2008 are now the biggest banks that are resistant to helping small businesses," Amato said.
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