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Marco Rubio @marcorubio
In the beginning, when God created the heavens and the earth, the earth was a formless wasteland, and darkness covered the abyss,while a mighty wind swept over the waters. Genesis 1:1 — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 7/7: When will #SmallBusiness Get The Money: -Lenders were waiting for guidance on loan authorization,note & closing process to release funds -Treasury provided that guidance Wednesday -Lenders no have 10 days after approval to disburse the money — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 6/7: SBA Technology Is Too Slow: -E-Tran slower at peak volume times but has NOT crashed -SBA continues to add more server capacity to E-Tran -SBA providing help to new lenders unfamiliar with E-Tran -SBA assisting lenders who have own internal IT problems — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 5/7: We Need More Lenders: -Over 400 new bank lenders have been approved -A number of previous SBA lenders have been reinstated -Non-SBA lender portal up & running since Wednesday -Treasury is now accepting applications for non-bank lenders such as FinTechs — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 4/7: Lenders Need Forms To Close & Disburse Funds: -Treasury released updated FAQ document that allows lenders to use their own note or an SBA promissory note to close & disburse funds. -In addition SBA developing a standard note but needs OMB approval. — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 3/7: Lender Liquidity: -@federalreserve announced further details for its lending facility to create a secondary market for #PPPloans on Thursday -@FDICgov relaxed regulations on banks’ leverage ratio for all PPP loans on Thursday. — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 2/7: Status of issues still being reported in the media. Banks Only Lending To Existing Customers:Treasury released non-bank lender application to approve new non-bank lenders into PPP. Will allow businesses without existing customer relationships to access PPP — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE 1/7: As of 2:30pm yesterday we had: =Over 480000 #PPPloans made =Over $124 billion approved =Covers an estimated 12 million jobs Despite early challenges over 35% of funds have been committed in first 5 days. Why we need more 💴 for PPP ASAP — PolitiTweet.org
Marco Rubio @marcorubio
#PPP needs community banks to be bulk of lending Community banks need to sell #PPPloans in order to have the liquidity they need @federalreserve expanding credit facilities was contemplated in the plan & it was announced yesterday https://t.co/OL7WTfNkUK — PolitiTweet.org
Marco Rubio @marcorubio
.@nytimes headline creates unnecessary confusion for #SmallBusiness 1.The program in this article IS NOT #PPP. It’s a different SBA emergency loan program 2.PPP was created because this existing loan program couldn’t handle a nationwide emergency https://t.co/PJkxHwfZ2Z — PolitiTweet.org
Marco Rubio @marcorubio
Like water my life drains away; all my bones are disjointed. My heart has become like wax,it melts away within me. As dry as a potsherd is my throat...They have pierced my hands & my feet...they divide my garments among them;for my clothing they cast lots. Psalms 22:15-19 — PolitiTweet.org
Marco Rubio @marcorubio
.@bittyandbeaus is a #SmallBusiness which employs workers with intellectual & developmental disabilities. In the midst of the #CoronaVirus shutdown they were able to work with community bankers at @LiveOakBank & use #PPP to save their employees jobs. https://t.co/Z14ssnLqEe — PolitiTweet.org
Marco Rubio @marcorubio
@bittyandbeaus is a #SmallBusiness which employees workers with intellectual & developmental disabilities. In the midst of the #CoronaVirus shutdown they were able to work with community bankers at @LiveOakBank & use #PPP to save their employees jobs. https://t.co/Z14ssnLqEe — PolitiTweet.org
Marco Rubio @marcorubio
@bittyandbeaus — PolitiTweet.org
Marco Rubio @marcorubio
#PPP NOTES 3/3: PPP is a massive new program,with only 6 days to implement. It was bound to have significant glitches But every day more of the glitches are being ✔️ off the list & more lenders are participating. And so far it’s the only part of the #CARESAct thats operational — PolitiTweet.org
Marco Rubio @marcorubio
#PPP NOTES 2/3: PPP has some serious implementation issues Yet over 3500 lenders have approved over 500000 #PPPloans at rate of over $3 billion per hour. True,the program isn’t ideal yet. But it also isn’t paralyzed if it committed 30% of the funds in its first four days. — PolitiTweet.org
Marco Rubio @marcorubio
#PPP NOTES 1/3: Community banks have made the overwhelming % of #PPPloans so far. Most big banks haven’t even started. Democratic leaders say they want 1/2 the new money in #PPP for community banks but community banks are going to make WAY MORE than just 1/2 the loans as is. — PolitiTweet.org
Marco Rubio @marcorubio
RT @dallascowboys: There are moments in an interview where you learn something about a prospect that goes far beyond football. @OU_Footbal… — PolitiTweet.org
Marco Rubio @marcorubio
Another two✔️ on #PPP issues: @federalreserve announced it will help lenders move #PPPloans off their balance sheets And @FDICgov will NOT count PPP toward bank leverage ratios. Term sheet here: https://t.co/Y2nBzJpIWd FAQ here: https://t.co/VamFEhozka — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE: Real daily progress on the issues raised by lenders: Need promissory note & closing documents: ✔️ More capacity in SBA portal: ✔️ New portal for non-SBA lenders: ✔️ Lift cap on @WellsFargo: ✔️ Legal immunity: ✔️ Ability to sell #PPPloans: expect ✔️ today — PolitiTweet.org
Marco Rubio @marcorubio
Schumer & Pelosi had no near term proposal to get money for anyone UNTIL a request was made for more funds for #smallbusiness Then it turned into “we have to get something out of it” #PPP is lending $3 billion per hour,so when it runs out & stops,remember what happened today — PolitiTweet.org
Marco Rubio @marcorubio
Ridiculous headline They didn’t even have a proposal until our ask for #ppp funds came out & then threw one out just so you could write this kind of headline. They view every proposal,even one with bipartisan support,as a chance to extract something unrelated that they want. https://t.co/3BRDQJOW3f — PolitiTweet.org
Marco Rubio @marcorubio
Today Senate Democratic leaders took hostage more money for #SmallBusiness #ppp. They want to use it as leverage to get other unrelated items they want. Ridiculous When #smallbiz gets turned away next week you will know why. I hope they reconsider. https://t.co/zyxz2HwUXr — PolitiTweet.org
Marco Rubio @marcorubio
Everyone is now on notice Sometime next week #PPP will stop & no more #PPPloans will be made,leaving millions of #smallbusiness locked out When that moment arrives it will be because a simple effort to add $250 billion to program was taken hostage on unrelated matters — PolitiTweet.org
Senate Small Biz @SmallBizCmte
Chairman Rubio released the following statement after Senate Democrats blocked additional funding for the… https://t.co/B4k8cYCOfu
Marco Rubio @marcorubio
This is simple. They blocked money for #PPP because unfortunately Senate democratic leaders view every request as a chance to get something they want in return. But help to #SmallBusiness is not a GOP “ask”. It’s something everyone supports. This is no time for partisan games. — PolitiTweet.org
Laura Litvan @LauraLitvan
https://t.co/HvVPgbL8HE
Marco Rubio @marcorubio
Argument made on floor by a Senate democrat that we shouldn’t put more funds in #PPP until it’s glitches are fixed misses the point. Money is a big cause of some of the glitches. The fear it will run out of money & leave some #smallbusiness behind is creating a demand crunch. — PolitiTweet.org
Marco Rubio @marcorubio
Unfortunately Senate Democrats are about to block more money for #PPPloans Not because they oppose it but because they want others things included. I hope they reconsider. #PPP is approving over $3 billion a hour to #SmallBusiness & will run out of funds in less than a week. — PolitiTweet.org
Marco Rubio @marcorubio
IMPORTANT #PPP UPDATE: Another ✔️ on PPP “to-do” list: @USTreasury has released new lender application for NON-BANK lenders such as @PayPal & @square Once onboard they will substantially increase the ease & availability of #PPPloans for #smallbusiness https://t.co/8qHEr5AABp — PolitiTweet.org
Marco Rubio @marcorubio
READ HERE: How hundreds of non-SBA lenders now have access to #PPP with the launch of a new online portal. https://t.co/WzVxUx7NEe — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE (2/2): =Today @federalreserve should release term sheet on facility for banks to sell #PPPloans & have cash to make additional loans =CONGRESS MUST APPROVE MORE 💵 FOR PPP THIS WEEK. Don’t have time to horse trade. Improvements mean we could hit funding limit in days! — PolitiTweet.org
