Several observations on the eve of Day 3 Round 2 of #PPP. The big theme here is that new guidelines from the SBA screwed over smaller regional and community banks, and net-net it’s going to hurt SMBs by extension. 1/n 2/ First and foremost, I deeply admire everyone who is burning the midnight oil to help save SMBs. Across the board, people at the @SBAgov and banks haven't slept in weeks on end. It's an exhausting and herculean effort, and frankly there's really no end in sight right now.

The Payroll Protection Program is absolute chaos. But today it is our best shot at getting SMBs the capital they need to survive. SMB, and by extension the country, NEEDS it to work. Here are some bits of news and things I learned today about PPP... (1/n) 2) First and foremost, @marcorubio has been absolutely nailing this. This is the first time in forever where I’m like “Yes, Marco! You got this! Amen!” Read this thread from two days ago for some insight into what went wrong with the PPP launch on April 3

https://twitter.com/marcorubio/status/1246396179744731136?s=20