So I may be starting a fight; I do say that one of my superpowers is being courageous so let’s do this. During this “unprecedented time” I keep reflecting back to Simon Sinek’s Infinite Game. I see examples where people are doing awesome things and I see big old companies continuing to fight the short term game. I am now a small business owner so I am tuning in to what is going on with the CARES act and the Paycheck Protection Program as a part of that. Last week at this time, I read the releases from my bank (a big one) and thought that their response was very strange about why they hadn’t started the PPP application process, there wasn’t enough clarity, the interest rate wasn’t enough... Let’s be mindful that most of these “loans” will be forgiven so there is NO interest. Let’s also remember that if small business owners can pay their employees, focus on keeping their businesses open, in the long term the banks make a pretty penny off us. If they were to think about the Infinite Game and not just this quarter’s earnings, they would understand that helping to keep their small businesses in business is not only the right thing for our country right now but also the right thing for their customers and their business in the long term.
Here is an article from the Washington Post describing the frustration from SBA Nevada district director Joseph Amato.
https://www.washingtonpost.com/business/2020/04/08/video-sba-official-blasts-big-banks-over-failure-quickly-distribute-loans/
