Short Message ReportConversations: 1 Participants: 14 Total Messages: 182Date Range: 4/24/2020 - 4/25/2020Outline of Conversations
- Date
- 2025-03-11
Summary
Exhibit 2, filed March 11, 2025 as Document 65-2 in Case 4:21-cv-00110-SDJ, is a Short Message Report of one group conversation titled SBA-KBG, with 14 participants and 182 messages dated 4/24/2020 to 4/25/2020. The messages, shown in chronological order, discuss overnight PPP application approvals, reported as almost 5500 applications for $320m, and the expected timing of SBA's e-Tran system reopening. Participants also discuss a CPA's claim about how the Kabbage online application calculates the PPP loan amount, relationships with bank partners including CRB, Customers Bank and Celtic, and new SBA guidance. The report ends with messages from 4/25/2020 about lender-to-lender guidance and possible paths to the PPPLF.
Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used
Full text
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 1 of 14 PageID #:
463
Exhibit 2
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 2 of 14 PageID #:
464
Short Message Report
Conversations: 1 Participants: 14
Total Messages: 182 Date Range: 4/24/2020 - 4/25/2020
Outline of Conversations
SBA-KBG • 182 messages between 4/24/2020 - 4/25/2020 • <7068880969> • <clint@flintriverhills.com>
• <davidkmcgowan@yahoo.com> • Catherine Lynn <2252796739> • Deepesh Jain <2028213408> •
Kate Prince <4049876386> • Kathryn Petralia <6785966422> • Kristel Adler <6094250252> • Laura
Goldberg <9174880142> • Nipun Goel <6784804635> • Rob Frohwein <4042906116> • Sam Taussig
<3014129193> • Spencer <7732949576>
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 3 of 14 PageID #:
465
Messages in chronological order (times are shown in GMT +00:00)
SBA-KBG
KP Kathryn Petralia <6785966422> 4/24/2020, 4:05 AM
You are asking if our auto system can clear errors?
RF Rob Frohwein <4042906116> 4/24/2020, 11:53 AM
That was a good night. Almost 5500 applications approved for $320m overnight!
DJ Deepesh Jain <2028213408> 4/24/2020, 11:55 AM
What’s the total count now? Sorry, I don’t have access to the tool.
S Spencer <7732949576> 4/24/2020, 11:56 AM
We’ve been working hard for 2B...trying to get there before our status...
S Spencer <7732949576> 4/24/2020, 11:56 AM
Image: ~_Library_SMS_Attachments_bb_11_BF94498A-1A63-4A57-B72B-33B2C69317CE_Messages
Image(2556519138).jpeg (34 KB)
DJ Deepesh Jain <2028213408> 4/24/2020, 11:57 AM
Loved an image
KP Kathryn Petralia <6785966422> 4/24/2020, 12:00 PM
Loved an image
D <davidkmcgowan@yahoo.com> 4/24/2020, 12:01 PM
There is 113mm in just agreeing to our calc, once we email them, we will make it probably to 2 billion
NG Nipun Goel <6784804635> 4/24/2020, 12:02 PM
We’re f’ing getting there - I’ve been reviewing apps thru the night.
NG Nipun Goel <6784804635> 4/24/2020, 12:03 PM
(And spenny)
ST Sam Taussig <3014129193> 4/24/2020, 12:55 PM
Rubio’s people are saying e-Tran “should” fire up Monday AM. SBA hasn’t confirmed yet.
DJ Deepesh Jain <2028213408> 4/24/2020, 12:55 PM
Looks like it will launching on Monday according to Rubio?
Should get us enough time to get a lot more apps in...
NG Nipun Goel <6784804635> 4/24/2020, 12:56 PM
Monday am? Are you kidding me?
DJ Deepesh Jain <2028213408> 4/24/2020, 12:56 PM
You can get some sleep now Nipun
KP Kathryn Petralia <6785966422> 4/24/2020, 12:56 PM
Omg
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 4 of 14 PageID #:
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NG Nipun Goel <6784804635> 4/24/2020, 12:56 PM
Sam I’m going to kill you lolzzz
ST Sam Taussig <3014129193> 4/24/2020, 12:56 PM
“Should” is operative word
KP Kathryn Petralia <6785966422> 4/24/2020, 12:56 PM
Meaning it may be even later?!?
ST Sam Taussig <3014129193> 4/24/2020, 12:57 PM
Da government gonna do what da government gonna do
NG Nipun Goel <6784804635> 4/24/2020, 12:57 PM
I’ve been up all night getting apps approved
D <davidkmcgowan@yahoo.com> 4/24/2020, 12:57 PM
You still can't sleep Nipun
ST Sam Taussig <3014129193> 4/24/2020, 12:57 PM
^ seemingly yes. SBA’s response is
I am trying to validate
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
Let’s go team! In the final 3 hours, I mean 72 hours
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
I mean 168 hours
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
Oh, wait it’s on
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
No it’s off
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
Let’s try to hit $5b before it turns on!
ST Sam Taussig <3014129193> 4/24/2020, 12:58 PM
You wanted more time
RF Rob Frohwein <4042906116> 4/24/2020, 12:58 PM
I do
KP Kathryn Petralia <6785966422> 4/24/2020, 12:59 PM
Welcome to another Monday
# <7068880969> 4/24/2020, 1:00 PM
It’s Friday, there are only two more working days until Monday
NG Nipun Goel <6784804635> 4/24/2020, 1:01 PM
I think we’ve found EASY areas to throw bodies and hopefully, improving OCR - I got thru at least 3-5mm last night.
Sorry Nan I didn’t follow our standard packet process but we f’ing knocked out a ton.
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 5 of 14 PageID #:
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KP Kathryn Petralia <6785966422> 4/24/2020, 1:01 PM
My point is that every day is Monday
KP Kathryn Petralia <6785966422> 4/24/2020, 1:01 PM
Oh
KP Kathryn Petralia <6785966422> 4/24/2020, 1:01 PM
DJ Deepesh Jain <2028213408> 4/24/2020, 1:01 PM
Loved “I think we’ve found EASY areas to throw bodies and hopefully, improving OCR - I got thru at least 3-5mm last
night.
Sorry Nan I didn’t follow our standard packet process but we f’ing knocked out a ton. ”
RF Rob Frohwein <4042906116> 4/24/2020, 1:03 PM
That’s the name of the book and movie “Every Day is Monday”
RF Rob Frohwein <4042906116> 4/24/2020, 1:19 PM
Our goal should be $5b by Monday
RF Rob Frohwein <4042906116> 4/24/2020, 1:19 PM
(Or more)
NG Nipun Goel <6784804635> 4/24/2020, 1:36 PM
Image: ~_Library_SMS_Attachments_61_01_DC4F7F08-482F-4DF4-84BB-02845BBCFFE2_ms-FOyhGT.gif (1 MB)
ST Sam Taussig <3014129193> 4/24/2020, 1:49 PM
Ok, SBA CoS picked up the phone. There will be a joint release from TRSY and SBA (run by the WH) around when
Trump signs with more details.
Briggs can neither “confirm nor deny Monday until the bill is signed” but “SBA needs significant time to update e-Tran”. Off
the record: they have no fucking idea how to deal with the $60B set aside.
ST Sam Taussig <3014129193> 4/24/2020, 2:10 PM
Trump aid asked SBA if lenders could put Trump’s signature on the loan agreements.
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 6 of 14 PageID #:
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Image: ~_Library_SMS_Attachments_1f_15_1BDFE4B9-30A2-469F-9E35-F0347C077CFC_IMG_3225.gif (386 KB)
S Spencer <7732949576> 4/24/2020, 2:11 PM
If he wants to take the guarantee risk...we will make it happen
RF Rob Frohwein <4042906116> 4/24/2020, 2:16 PM
Wish there was an app that could take your name and make it look like Trump’s signature with a big black Markie
KP Kathryn Petralia <6785966422> 4/24/2020, 2:17 PM
Maybe the ink can have bleach in it to fight the virus
RF Rob Frohwein <4042906116> 4/24/2020, 2:18 PM
Image: ~_Library_SMS_Attachments_42_02_9612F4EC-3B94-49EF-B20A-5F1301BF1BC9_Unknown.jpeg (6 KB)
RF Rob Frohwein <4042906116> 4/24/2020, 2:19 PM
https://www.youtube.com/watch?v=335Qnh-GRcA
Attachment: ~_Library_SMS_Attachments_a9_09_04A8056F-DD8F-4D75-97DB-E54A7C454760_B86E4A3D-9547-4FF5-
935E-9C62F9255D6F.pluginPayloadAttachment (606 KB)
Attachment: ~_Library_SMS_Attachments_aa_10_AB040B0F-6136-4D56-AA43-DB3CD6C162D1_52FE79E2-B9F9-
402B-928A-CCD3CFA43D5B.pluginPayloadAttachment (15 KB)
RF Rob Frohwein <4042906116> 4/24/2020, 2:19 PM
One of my favorite of all time
RF Rob Frohwein <4042906116> 4/24/2020, 2:22 PM
So someone sent this to Kate. Sam - do you want to follow up with him. Doubt he’s accurate - probably is just looking for
biz.
Attachment: ~_Library_SMS_Attachments_98_08_17430EB2-1A47-4494-A8EB-5EDC868FA07A_voicemail-483.m4a (86
KB)
KP Kate Prince <4049876386> 4/24/2020, 2:23 PM
Sam he has now emailed and texted me too so I can forward the email
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 7 of 14 PageID #:
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RF Rob Frohwein <4042906116> 4/24/2020, 2:23 PM
He says there’s a glaring error in the calc
ST Sam Taussig <3014129193> 4/24/2020, 2:23 PM
Ok
LG Laura Goldberg <9174880142> 4/24/2020, 2:24 PM
Let’s have CS call
LG Laura Goldberg <9174880142> 4/24/2020, 2:24 PM
Send to me
RF Rob Frohwein <4042906116> 4/24/2020, 2:25 PM
Bottom line let’s hear what he has to say
LG Laura Goldberg <9174880142> 4/24/2020, 2:25 PM
Of course
RF Rob Frohwein <4042906116> 4/24/2020, 2:25 PM
From person (in email): Bob Allard gave me your number. I am a CPA, the Kabbage online application for PPP has a
HUGE mistake in how it figures the loan amount that is gonna get you guys in trouble. Call me at 678-362-6547 ASAP
S Spencer <7732949576> 4/24/2020, 2:25 PM
We’ve heard it all before...fine to listen to him but we’ve gone through this with council
KP Kate Prince <4049876386> 4/24/2020, 2:25 PM
Laura I sent you email and text
NG Nipun Goel <6784804635> 4/24/2020, 2:25 PM
Yeah Laura if you can have someone reach out - def need to understand what is. We’ve had a lot of commentary re:
what’s right / what’s wrong. But we’ve walked thru all of this with outside counsel.
S Spencer <7732949576> 4/24/2020, 2:26 PM
What we were tasked to do by SBA is not possible and our calc gets as close as possible
NG Nipun Goel <6784804635> 4/24/2020, 2:26 PM
Spenny beat me to the punch.
LG Laura Goldberg <9174880142> 4/24/2020, 2:26 PM
If he is not a customer/CS isn’t right
S Spencer <7732949576> 4/24/2020, 2:26 PM
It’s not perfect but it’s what we can do at a semblance of scale
LG Laura Goldberg <9174880142> 4/24/2020, 2:26 PM
I can’t answer those questions - but will find someone who can
RF Rob Frohwein <4042906116> 4/24/2020, 2:26 PM
Image: ~_Library_SMS_Attachments_e1_01_3744E212-0D22-4474-9F7C-19641DE4859A_Screen Shot 2020-04-24 at
10.26.31 AM.jpeg (11 KB)
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 8 of 14 PageID #:
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S Spencer <7732949576> 4/24/2020, 2:26 PM
It’s also what pretty much everyone else is doing
KP Kathryn Petralia <6785966422> 4/24/2020, 2:26 PM
Loved an image
S Spencer <7732949576> 4/24/2020, 2:27 PM
Emphasized an image
KP Kate Prince <4049876386> 4/24/2020, 2:27 PM
Emphasized an image
NG Nipun Goel <6784804635> 4/24/2020, 2:27 PM
If we’re going to stick to principles of automation, this is how we accomplish it.
KA Kristel Adler <6094250252> 4/24/2020, 3:02 PM
Customers Bank is signed (in case you didn’t catch it on the call)
# <7068880969> 4/24/2020, 3:18 PM
Liked “Customers Bank is signed (in case you didn’t catch it on the call)”
ST Sam Taussig <3014129193> 4/24/2020, 4:32 PM
Bill signed
RF Rob Frohwein <4042906116> 4/24/2020, 4:38 PM
I just broke up with CRB as a referring partner but the bank partnership might also be over potentially.
RF Rob Frohwein <4042906116> 4/24/2020, 4:38 PM
They’re complete assholes.
S Spencer <7732949576> 4/24/2020, 4:39 PM
No pressure Clint
KP Kathryn Petralia <6785966422> 4/24/2020, 4:39 PM
Holy Moses
C <clint@flintriverhills.com> 4/24/2020, 4:39 PM
RF Rob Frohwein <4042906116> 4/24/2020, 4:41 PM
We can also re-engage with Celtic if we want, but would want to know that asap.
RF Rob Frohwein <4042906116> 4/24/2020, 4:42 PM
However, CRB is nothing but a bunch of goons.
DJ Deepesh Jain <2028213408> 4/24/2020, 4:42 PM
What happened with CRB?
KP Kathryn Petralia <6785966422> 4/24/2020, 4:42 PM
We have to use Celtic’s etran thing
RF Rob Frohwein <4042906116> 4/24/2020, 4:43 PM
We have had two relationships with CRB - referral and banking. I just broke off the referral relationship because they’re
acting like assholes
RF Rob Frohwein <4042906116> 4/24/2020, 4:43 PM
I’ve also offered to cut off the banking relationship
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 9 of 14 PageID #:
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RF Rob Frohwein <4042906116> 4/24/2020, 4:43 PM
I think they’ll want to continue that but I can’t be sure
RF Rob Frohwein <4042906116> 4/24/2020, 4:44 PM
So we need plan F
DJ Deepesh Jain <2028213408> 4/24/2020, 4:45 PM
I have an idea...
DJ Deepesh Jain <2028213408> 4/24/2020, 4:47 PM
Quontic Bank is a CDFI and is apparently a SBA approved lender...
There is a strong push to get CDFIs a seat at the table (Rob, I believe you got a letter on that front?).
It’s also expected that CDFIs can access the PPPLF this weekend.
SR approached me to sell loans directly
To them as they have a relationship with them.
I told him that we won’t unless we get better economics
RF Rob Frohwein <4042906116> 4/24/2020, 4:47 PM
Hey all, given the acrimonious relationship with CRB, I think it’s best if we move entirely off of them.
DJ Deepesh Jain <2028213408> 4/24/2020, 4:47 PM
So we can work with them to use their etran - originate loans through them and get better economics
RF Rob Frohwein <4042906116> 4/24/2020, 4:47 PM
I’m afraid they’ll sabotage us on Monday.
ST Sam Taussig <3014129193> 4/24/2020, 4:47 PM
Why would we do that? We know CRB works and they fit into the small bucket.... Can we talk about this?
DJ Deepesh Jain <2028213408> 4/24/2020, 4:48 PM
I meant better economics than current SR economics
KA Kristel Adler <6094250252> 4/24/2020, 4:48 PM
Do they really have another partner who can process?
RF Rob Frohwein <4042906116> 4/24/2020, 4:48 PM
It doesn’t make a diff Kristel
KP Kathryn Petralia <6785966422> 4/24/2020, 4:48 PM
We need to get on a call
RF Rob Frohwein <4042906116> 4/24/2020, 4:48 PM
I won’t work with them any longer
KA Kristel Adler <6094250252> 4/24/2020, 4:48 PM
Maybe bluevine?
RF Rob Frohwein <4042906116> 4/24/2020, 4:48 PM
I’m through with them
RF Rob Frohwein <4042906116> 4/24/2020, 4:48 PM
entirely
ST Sam Taussig <3014129193> 4/24/2020, 4:50 PM
Talk at 1?
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 10 of 14 PageID #:
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ST Sam Taussig <3014129193> 4/24/2020, 4:50 PM
Some of us are on calls. Kate - can we talk at 1?
ST Sam Taussig <3014129193> 4/24/2020, 4:53 PM
Kate is busy. Just sent invite
KP Kate Prince <4049876386> 4/24/2020, 4:59 PM
Sorry guys Reid fell and busted his lip right as Sam sent that. Thanks Sam!
RF Rob Frohwein <4042906116> 4/24/2020, 5:00 PM
Not my room
RF Rob Frohwein <4042906116> 4/24/2020, 5:00 PM
I’m driving
RF Rob Frohwein <4042906116> 4/24/2020, 5:00 PM
And can’t get that to work. Send a diff link
ST Sam Taussig <3014129193> 4/24/2020, 5:00 PM
Ok. KP will join late. Use my number 202.850.9008
LG Laura Goldberg <9174880142> 4/24/2020, 5:02 PM
What room?
LG Laura Goldberg <9174880142> 4/24/2020, 5:02 PM
I am confused
ST Sam Taussig <3014129193> 4/24/2020, 5:02 PM
202.850.9008
KP Kate Prince <4049876386> 4/24/2020, 5:02 PM
Use sam’s number above!
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:04 PM
I got invalid number or meeting not started
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:05 PM
Nervermind, call it
LG Laura Goldberg <9174880142> 4/24/2020, 5:30 PM
FYI - we have already surpassed 330k calls. No one is getting through. Happened when trump signed
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:30 PM
So it was already on?
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:30 PM
What happened to Monday?
RF Rob Frohwein <4042906116> 4/24/2020, 5:30 PM
She’s just talking about CS
LG Laura Goldberg <9174880142> 4/24/2020, 5:30 PM
No, when trump signed the bill, the calls spiked
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 11 of 14 PageID #:
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RF Rob Frohwein <4042906116> 4/24/2020, 5:30 PM
Etran isn’t on
DJ Deepesh Jain <2028213408> 4/24/2020, 5:30 PM
I think these are customers calling us - etran is not on
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:30 PM
Jesus, that was scary
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:31 PM
Sorry about your calls, but I feel better for a second
DJ Deepesh Jain <2028213408> 4/24/2020, 5:31 PM
Rob - you broke up over text ....
something for the book/film that you were referring to earlier
RF Rob Frohwein <4042906116> 4/24/2020, 5:51 PM
So, the ready for etran number isn’t moving up anymore. Was that expected?
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:52 PM
The manual ones should trickle in if they get a success, don’t think we have another chunk from AWS OCR yet, which
would make a change, and then strategy changes planned this weekend should make a change
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:56 PM
we also reset the consents we got for the more than 20% difference because we plan to run a new strategy, and their
amount will change, so we need them to sign it again, so that is up to 154mm now
D <davidkmcgowan@yahoo.com> 4/24/2020, 5:56 PM
Once we get a final strategy we can email them and get back probably by that time what will be 200mm
ST Sam Taussig <3014129193> 4/24/2020, 7:00 PM
SBA is considering a staged approach for e-tran. They are considering, and seeking TRSY’s consent, to turn on access to
some smaller lenders this weekend. NOTHING FINAL. But they are conducting a survey this afternoon to understand how
much volume lenders have lined up to submit. AKA: They are totally dazed and confused
D <davidkmcgowan@yahoo.com> 4/24/2020, 7:32 PM
Still Rob’s room?
KP Kate Prince <4049876386> 4/24/2020, 7:33 PM
I am in - unless y’all have started a new thread without me again.
D <davidkmcgowan@yahoo.com> 4/24/2020, 7:33 PM
lol
D <davidkmcgowan@yahoo.com> 4/24/2020, 7:33 PM
I’m waiting for host to join
S Spencer <7732949576> 4/24/2020, 7:33 PM
Ditto
# <7068880969> 4/24/2020, 7:33 PM
On phone w customers bank Be right there.
DJ Deepesh Jain <2028213408> 4/24/2020, 7:35 PM
I can’t join
Have a conflict... on a call with Wells Fargo
Another fire to fight
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 12 of 14 PageID #:
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ST Sam Taussig <3014129193> 4/24/2020, 8:32 PM
We have lender to lender guidance
ST Sam Taussig <3014129193> 4/24/2020, 8:32 PM
Lenders participating in the Paycheck Protection Program (“PPP”) may sell participating
interests in PPP loans to other participating Lenders in accordance with 13 CFR § 120.432(b).
For purposes of PPP loans only, SBA’s prior written consent is not required and Lenders may
sell participations of up to 100 percent of the principal balance of PPP loans. All participating
interests in PPP loans must be sold to Lenders that have a signed SBA Form 750, SBA Form
3506, or SBA Form 3507. The originating Lender must continue to hold the note, the loan
documents and retain all servicing rights. The originating Lender will be the party responsible to
SBA with respect to all servicing actions, including requests for advance purchases and loan
forgiveness, and will be the party eligible for the guarantee purchase of a PPP loan.
The originating Lender must also provide SBA’s Office of Credit Risk Management (OCRM)
with prior written notice of any such participating interest sale at the following email address:
PPPLoanParticipation@sba.gov. For purposes of PPP loans only, the originating Lender will be
considered to meet the good standing and satisfactory performance requirements of 13 CFR §
120.433.
ST Sam Taussig <3014129193> 4/24/2020, 8:32 PM
Will email too
ST Sam Taussig <3014129193> 4/24/2020, 8:40 PM
Also SBA just killed e-tran test because too many people are capacity testing. Engines are revving!
KA Kristel Adler <6094250252> 4/24/2020, 8:43 PM
A+ for Clint for getting ours done early!
# <7068880969> 4/24/2020, 8:43 PM
Loved “A+ for Clint for getting ours done early!”
ST Sam Taussig <3014129193> 4/24/2020, 8:50 PM
Loved “A+ for Clint for getting ours done early!”
S Spencer <7732949576> 4/24/2020, 8:50 PM
Who’s going to play Clint in the movie?
KA Kristel Adler <6094250252> 4/24/2020, 8:51 PM
Thor!
ST Sam Taussig <3014129193> 4/24/2020, 8:51 PM
Chuck Norris
# <7068880969> 4/24/2020, 8:52 PM
Chuck too old. Thor for sho
S Spencer <7732949576> 4/24/2020, 8:53 PM
Laughed at “Chuck too old. Thor for sho”
KP Kathryn Petralia <6785966422> 4/24/2020, 8:57 PM
Out of curiosity who is going to watch a movie about PPP loans?
S Spencer <7732949576> 4/24/2020, 8:58 PM
The same people who watched he big short
KP Kathryn Petralia <6785966422> 4/24/2020, 9:03 PM
I’ll call Michael Lewis
KA Kristel Adler <6094250252> 4/24/2020, 9:03 PM
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 13 of 14 PageID #:
475
I have his snail mail address
KA Kristel Adler <6094250252> 4/24/2020, 9:04 PM
I already found it. 100% sending this to him as a bundle. Kabbage plays the role of little known story amidst backdrop of
pandemic and government bungling. If he doesn’t write it I will.
KP Kathryn Petralia <6785966422> 4/24/2020, 9:08 PM
I think it could be a good story. My sister has some good CDC government bullshit stories too, including one about
Arkansas prisons. He likes to use random stories
RF Rob Frohwein <4042906116> 4/24/2020, 9:09 PM
I’ll find out if Jon Hamm is available to play me in the movie.
KA Kristel Adler <6094250252> 4/24/2020, 9:09 PM
Alec Baldwin.
D <davidkmcgowan@yahoo.com> 4/24/2020, 9:27 PM
Bradley Cooper is up for playing me, but if he isn’t available Chris Hemsworth is in
RF Rob Frohwein <4042906116> 4/24/2020, 9:34 PM
We are still $23m short of delivery on the first tranche and it’s been about 9 days or so. What’s the plan here?
D <davidkmcgowan@yahoo.com> 4/24/2020, 9:36 PM
KP is chatting with Laura now, we emailed them today again, they were going to talk on options on was to push them to
come
LG Laura Goldberg <9174880142> 4/24/2020, 9:39 PM
Customer has the list has been calling today and will resume tomorrow
LG Laura Goldberg <9174880142> 4/24/2020, 9:39 PM
Customer service
RF Rob Frohwein <4042906116> 4/24/2020, 10:37 PM
May have a call tonight with SVB about a correspondent relationship. Keep an eye out
ST Sam Taussig <3014129193> 4/24/2020, 10:37 PM
DJ Deepesh Jain <2028213408> 4/24/2020, 10:37 PM
I have reached out to BMO also
They are checking internally
RF Rob Frohwein <4042906116> 4/24/2020, 11:47 PM
PPPLF apparently has CEO attestation that the borrower has access to no other capital
ST Sam Taussig <3014129193> 4/24/2020, 11:48 PM
Borrower being us.
DJ Deepesh Jain <2028213408> 4/24/2020, 11:48 PM
Yep
DJ Deepesh Jain <2028213408> 4/24/2020, 11:52 PM
I don’t know how any bank can certify that... if they can, why can’t we?
KP Kathryn Petralia <6785966422> 4/24/2020, 11:53 PM
That’s insane
Case 4:21-cv-00110-SDJ Document 65-2 Filed 03/11/25 Page 14 of 14 PageID #:
476
KP Kathryn Petralia <6785966422> 4/24/2020, 11:53 PM
And plain stupid
ST Sam Taussig <3014129193> 4/24/2020, 11:53 PM
I am not worried
DJ Deepesh Jain <2028213408> 4/24/2020, 11:54 PM
Let’s just hope that SR doesn’t go to the fed showing our agreement with them and saying that we had access to capital!
RF Rob Frohwein <4042906116> 4/25/2020, 12:01 AM
Glad you’re not worried Sam. Deputizing you as ceo.
DJ Deepesh Jain <2028213408> 4/25/2020, 12:02 AM
Laughed at “Glad you’re not worried Sam. Deputizing you as ceo. ”
DJ Deepesh Jain <2028213408> 4/25/2020, 12:25 AM
Is anyone an expert on correspondent bank requirements? I don’t have much idea except for some google education.
This if for the 9pm call.
KA Kristel Adler <6094250252> 4/25/2020, 12:56 AM
Nope but my main takeaway from googling is that it should be a flat fee per txn not volume based
ST Sam Taussig <3014129193> 4/25/2020, 1:48 AM
I think everyone is only partially aware that the "lender to lender" guidance spooked SR today. Allow me to clarify all this.
SR believes SBA's guidance supersedes the previous secondary market guidance from TRSY from a few days ago. I,
Azba, and our outside legal eagles see those as two very distinct issues because they live under two distinct statutes, but
SR doesn't. I was able to connect briefly with the SBA's Chief of Staff, but his reaction was not helpful. It was more like a
Homer Simpson "DOH!" than anything else. I need to talk with SBA legal tomorrow now to unfuck this. If it doesn't get
clarified, then we're prepared to balance sheet at CRB and Customers if need be (with the new lender to lender guidance)
AND are exploring rapid paths to PPLF. We'll likely need a correspondent banking relationship with a main street bank for
PPLF, so if you have high-level contacts, now would be the time to call them. I think the SBA just needs to clarify their
guidance, but we'll figure this out one way or the other.
ST Sam Taussig <3014129193> 4/25/2020, 1:49 AM
Also, just to sum up, on the SBA doc thread, we have 1) new FAQs, 2) new eligibility requirements, and 3) new calc rules
all from this afternoon. Docs are now up here:
ST Sam Taussig <3014129193> 4/25/2020, 1:49 AM
https://home.treasury.gov/policy-issues/cares/assistance-for-small-businesses
Attachment: ~_Library_SMS_Attachments_ac_12_0C66C95A-202A-4B31-A8E2-123E7942E6E3_F908CE7F-C779-4E5F-
932F-A99FABD80A58.pluginPayloadAttachment (346 bytes)
DJ Deepesh Jain <2028213408> 4/25/2020, 1:49 AM
To be fair, unless you spoke with SR, they were not spooked. They are wondering and questioning what this new
guidance means
DJ Deepesh Jain <2028213408> 4/25/2020, 1:50 AM
So let’s not jump the gun here
File and source
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