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Marco Rubio @marcorubio
#PPP UPDATE (1/2): =Over 3000 SBA lenders & 400 non-SBA now in -At 2pm Wed over 400000 #smallbusiness have loan approvals =Over $100 billion in approvals -E-Tran Portal added capacity -New portal opened for non-SBA banks -@USTreasury provided clear guide on closing documents — PolitiTweet.org
Marco Rubio @marcorubio
When your children ask you, ‘What does this rite of yours mean?’ you will reply, ‘It is the Passover sacrifice for the LORD, who passed over the houses of the Israelites in Egypt; when he struck down the Egyptians, he delivered our houses.’” Exodus 12:26-27 — PolitiTweet.org
Marco Rubio @marcorubio
This is NOT accurate. The issue was not that banks are giving preference to their customers. The issue was that one bank was denying their own customers if they didn’t have a loan or credit card with them. Fortunately, they have changed this. https://t.co/M4WRnhHCP3 — PolitiTweet.org
Marco Rubio @marcorubio
Good news! Significant increase today in the number of lenders & loans in #PPP. Daily improvement continues & will accelerate as Treasury guidance has provided more clarity,SBA portals expandig & lenders get more faster. Bad News! Need more money for #PPPloans without delay. — PolitiTweet.org
Marco Rubio @marcorubio
.@USTreasury has updated FAQ document providing clear answer on documents & promissory notes & on calculations Was single biggest question we kept hearing Now waiting for @federalreserve to issue terms for how lenders can move loans off their books https://t.co/7ka9mHdap6 — PolitiTweet.org
Marco Rubio @marcorubio
For days I raised concern underserved communities could be left out of #PPP Won’t be because big banks take all the $. Most aren’t even lending yet Solution is speed up approval of community & /non-bank lenders & let them move loans off their books fast https://t.co/GwdTQJVFrS — PolitiTweet.org
Marco Rubio @marcorubio
Pushing to have by end of business today: 1.@WellsFargo free from cap they said kept them from making #PPP loans 2.Details from @federalreserve on how lenders can offload #PPPloans from their books & 3.Guidance from @USTreasury on forms needed to close on funds for #SmallBusiness — PolitiTweet.org
Marco Rubio @marcorubio
The @federalreserve has just lifted the growth cap on @WellsFargo for purposes of #PPP loans. This removes the impediment they cited for not making 100% government backed loans to #smallbusiness clients. https://t.co/6dVc5n1JeB — PolitiTweet.org
Marco Rubio @marcorubio
Expect additional guidance from @USTreasury later today providing lenders further clarity on many of the questions still be asked about #PPP — PolitiTweet.org
Marco Rubio @marcorubio
@senatemajldr has just “hotlined” a unanimous consent agreement to introduce,call up & pass,by voice vote,a bill to provide an additional $250 billion for #PPP. Any Senator objecting is asked to do so by noon today. Hope for the best — PolitiTweet.org
Marco Rubio @marcorubio
Frontline doctors & scientists of @WHO do a phenomenal job to save lives. But the high level leadership of this organization has become politicized. They acted as apologists for the Communist Party of #China https://t.co/GB5eyPOwHw — PolitiTweet.org
Marco Rubio @marcorubio
Despite the incredible financial sacrifices involved the people of #Florida are doing their part. For now we are outperforming the model. Keep it up. Don’t Stop Now. #WeWillWin https://t.co/NyEfo3nM2G — PolitiTweet.org
Marco Rubio @marcorubio
#PPP can, must and will improve. https://t.co/KLozaZVVyx — PolitiTweet.org
Marco Rubio @marcorubio
2/2 We now need @federalreserve to not only provide incentive for a secondary market for #PPPloans but ALSO to buy #PPP loans directly to clear them off balance sheets & allow additional lending. Without this it will be hard to get community banks & FinTech lenders fully engaged. — PolitiTweet.org
Marco Rubio @marcorubio
1/2 IMPORTANT #PPP UPDATE FOR LENDERS Our bill assigned PPP a risk weight of zero % Working with @FDICgov to provide lenders concrete regulations VERY SOON making clear #PPPloans will NOT increase the measured risk of your balance sheet & trigger additional capital requirements — PolitiTweet.org
Marco Rubio @marcorubio
The rollout of #PPP has not been “flawless” & the glitches have not been “minor”. But they also aren’t insurmountable. They have solutions. And @stevenmnuchin1 has been incredibly accessible & decisive. The goal is steady daily improvement in program. https://t.co/Zgjww7PiBj — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE: Despite early glitches,after 3 days: LOANS: Over 220,000 COMMITTED: $66 billion =@SBAgov portal for new (non-SBA) lenders should (🤞) start be this morning =Senate will try to add $251 billion tomorrow so no eligible #SmallBusiness left out More updates later — PolitiTweet.org
Marco Rubio @marcorubio
The Lord GOD opened my ear; I did not refuse,did not turn away. Isaiah 50:5 — PolitiTweet.org
Marco Rubio @marcorubio
Like any big new emergency program rolled out in just 6 days implementation of #PPP has glitches But the fact that we need to get more funds for it after just 3 days is proof it’s starting to move Long ways from perfect but as tonight’s numbers will show its steadily improving — PolitiTweet.org
Marco Rubio @marcorubio
#PPP UPDATE: Had call with leaders of @ABABankers Biggest remaining issues: E-TRAN:Increase capacity of @SBAgov portal LIQUIDITY:Get specifics from @federalreserve on secondary market for loans FORMS:Need guidance from SBA on loan forms FUNDS:More 💰 in program ASAP We’re on it — PolitiTweet.org
Marco Rubio @marcorubio
Great story about how small manufacturers have pivoted to making simple masks highlights why #SmallBusiness is a national treasure we MUST save. And also how they will be a key component of our recovery from this crisis as well. https://t.co/EoEk3mXeTD — PolitiTweet.org
Marco Rubio @marcorubio
Let’s move on this now! We need 2 things fast: 1. Congress to approve these funds for #PPP without games; 2. Bring in additional lenders, (including those focused on under-served communities) ASAP. Since many banks won’t service non pre-existing customers. — PolitiTweet.org
Steven Mnuchin @stevenmnuchin1
At the direction of President @realDonaldTrump, I've spoken with @SenateMajLdr, @SenSchumer, @SpeakerPelosi, and… https://t.co/Cc3B5zkaxE
Marco Rubio @marcorubio
After first 3 days of #PPP clear traditional lenders aren’t ideal conduit to provide help to #smallbusiness in underserved communities with no preexisting traditional banking relationship Therefore working to hold portion of additional funds for approved non-traditional lenders — PolitiTweet.org
Marco Rubio @marcorubio
The likely need to replenish funds for #PPP was well understood by all during negotiations. It’s why our bipartisan group that crafted it asked for more money. For the sake of millions of #SmallBusinesses I hope Congress can act quickly & without unnecessary horse trading. — PolitiTweet.org
Marco Rubio @marcorubio
Have asked @USTreasury to make formal request for more money for #PPP today. Program still having some problems,but steadily improving. This trend will continue & at current pace funds could exhaust MUCH SOONER than anyone anticipated. https://t.co/uSO5uY51iD — PolitiTweet.org
Marco Rubio @marcorubio
Good news on #PPP. @senatemajldr is working with @SenSchumer & hopes to approve additional funding by voice vote during the Senate’s pro forma session this week on Thursday 9 April. We will need at least another $200-$250 billion for #PPPloan — PolitiTweet.org
Marco Rubio @marcorubio
The fear that #PPP will run out of money is creating tremendous anxiety among #SmallBusiness. We have days, NOT weeks to address this. We are working with @USTreasury to make a formal request for additional funds ASAP & with Senate leadership to get fast track vote ASAP. — PolitiTweet.org
Marco Rubio @marcorubio
Don’t be trapped by despair & negativity on #ppploans. We are just trying to help. And we will NOT leave #SmallBusiness behind. Everyday #ppp is going to work better than the day before. And we have strong bipartisan support to replenish funds when they run out. #WeWillWin https://t.co/OBUE1ALq5r — PolitiTweet.org
Marco Rubio @marcorubio
With only 6 days to launch a massive emergency program for over 90% of companies,glitches will happen. But #PPP will get better as: 1. SBA portal adds capacity;& 2. New lenders enter the program Also,Congress already discussing how to add more funding https://t.co/85C685WPuz — PolitiTweet.org
Marco Rubio @marcorubio
Though I thought I had toiled in vain,for nothing and for naught spent my strength, Yet my right is with the LORD,my recompense is with my God. Isaiah 49:4 — PolitiTweet.org
