COVID-19 Outbreak (Update: More than 2.9M cases and 132,313 deaths in US)

take a look at the Louisiana Portfolio Guaranteed Loan that our governor was patting himself on the back over. I watched the video seminar and it sounded really good.

Then I went and looked at the participating banks and that was my first sign that there was a problem....only 6 small banks in the entire state are participating and most have already said they want you to already have an account with them
https://www.ledbizloan.com/#participating-banks
I spoke to Lyle at St. Landry Bank & Trust and he flat out told me that they aren't really looking to make the loans without 150% collateral because the government is only guaranteeing 20%. That came as somewhat of a surprise considering that was never even forking mentioned in the webinar I participated in

Think about it....you are a bank and the state wants you to give out $100,000 capped at 3.5% interest to businesses that are likely in a bad financial situation and they are only going to back $20,000 of that. Well sheet if I was a bank I wouldn't do that either