Mark Cuban Ripped the Banks Over PPP; Here's Why He's Wrong

Since the launch of the federal Paycheck Protection Program (PPP) early in April, multibillionaire entrepreneur Mark Cuban has had some choice words for the banks charged with distributing the loans to struggling small businesses.

First, Cuban said the banks were moving too slow. Then the Shark Tank investor told CNBC that "banks are playing themselves" and "trying to determine if the credits [of loan applicants] are good, and that's leading to a lot of small businesses that are left out in the cold."

I think Cuban had the right intentions in saying that small businesses needed to get the loans as fast as humanly possible. But I think his comments were also somewhat misguided and underplayed the incredible accomplishment the national banking system pulled off by loaning out nearly $350 billion in just two weeks. Here's why.

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Source Fool.com