JPMorgan’s small business loans instead went to its biggest customers
This might not add that much to the conversation, but the only thing I can think to say here is;<p>Of course.<p>The large institutions are more savvy, have staff they can devote to finding this money, and have more connections to the banks.<p>The small businesses who actually need this money are run by the owner, and may have an accountant, but certainly don&#x27;t have someone who can jump through the arbitrary hoops put in place by banks.<p>Also,<p>&gt;More than 300,000 customers [. . .] applied for loans through the Paycheck Protection Program[. . .]. About 18,000 were funded, for a 6% success rate.<p>Are you fucking kidding with this? I feel actually insulted by this number.<p>And finally:<p>&gt;The bank is among four lenders now facing accusations in a lawsuit that they prioritized the biggest loans in order to earn higher fees.<p>Of course. I am upset at myself for hoping anyone in this process would act like a decent human being. I don&#x27;t know what to do with the anger I&#x27;m feeling. Any thoughts on where this energy should go?