JOINED NOW BY PHIL GREEN
CHAIRMAN AND CEO OF FROST BANK
PHIL GREAT TO HAVE YOU ON THE
SMALL BUSINESSES MINISTRATION
ONLY ACCEPTING APPLICATIONS NOW
FOR PPP LOANS
FROM BUSINESSES WITH 20 OR LESS
EMPLOYEES THAT FOR THE NEXT
2 WEEKS. HOW DO YOU PLAN TO
ATTRACT AND ACCOMMODATE THOSE
CUSTOMERS WHY IS THIS SO
IMPORTANT.
>> WELL THANKS FOR HAVING ME
GOOD, YOU KNOW THE WHOLE PPP
PROGRAMS THAT ARE REALLY
IMPORTANT AS WELL AS WE KNOW
IT'S BEEN A TREMENDOUS SOURCE
OF CAPITAL FOR BUSINESSES THAT,
NEEDED IT. THERE'S BEEN SOME OF
THE SMALLER AND IT IS REALLY
HAVEN'T KNOW HOW TO ENGAGE IN
AND EVERYTHING WE CAN.
>> TO HIM.
>> PROVE THE ACCESS. WE'VE GOT
SOME IS UNDERSERVED MARKETS I
THINK'S IMPORTANT. I THINK IT'S
ALSO INTERESTING WHEN YOU LOOK
AT THE REQUIREMENT THE SPEEDY
FOR THE NEXT
2 WEEKS, BUSINESSES WITH
EMPLOYEES OF 20 OR REALLY IF
YOU LOOK AT OUR PORTFOLIO PPP
LOANS. THE SECOND ROUND 80%
OF THEM HAVE BEEN FOR EMPLOYERS
WITH EMPLOYEES OF 10 OR LESS SO
I THINK.
WE'VE BEEN DOING A DECENT
JOB OF GETTING TO SOME OF THESE
SMALLER COMPANIES, BUT
I THINK WHATEVER WE CAN DO TO
INCREASE AND MAKERS IN
THE INDUSTRY. MORE FACT GETTING
AT THESE BUSINESSES WE NEED TO
PRESERVE YOU TO HELP.
>> DO YOU THINK PERHAPS.
>> YOU KNOW,
I
THINK IT'S IT'S WE WILL SEE A
LOT OF ACTIVITY IN THE SMALLER
LOANS ANYWAY. 80% OF OUR
OWN EVENT.
>> AT THAT LEVEL THAT I CAN SEE
10 OR LESS,
YOU KNOW I HAVE 4 WEEKS LEFT IN
THE PROGRAM I GUESS A LITTLE
BIT MORE WORRIED
ABOUT THAT.
>> IT DOESN'T LOOK LIKE THEY'RE
GOING TO LOSE THAT THEY'RE
GOING TO USE ALL THE MONEY
THEY'RE GOING TO USE THAT USE
ABOUT HALF OF IT
SO FAR.
>> WELL IT IS
A LOT I'M WORKING I'M SO PROUD
OF OUR ORGANIZATION AS YOU SAY
FOR BEING A TOP LITERALLY US
EVEN FOR OUR SIZE. IT TAKES A
LOT OF OUR STAFF A LOT OF OUR
STAFFS. 10% OF OUR STAFF ARE
WORKING PPP MUCH NUMB I MEAN
YOU'VE EVER BOUGHT 2 YEARS
>> AND WE REALLY HAVEN'T USED
ANY OUTSOURCING FOR IT BECAUSE
IT'S A DECISION IMPORT TO
OUR CUSTOMERS WE REALLY WANT TO
HAVE A 3RD PARTY IN 2 BETWEEN
US AND THEM IN MAKING THOSE
DECISIONS SO I HOPE IT'S ENOUGH
TIME OF THE PROGRAMS ON
A FORWARD WEEKS LEFT TO 50
SOMEONE'S LISTENING AND YOU'RE
THINKING ABOUT PPP LOAN
CONTACT, SOMEONE WHO'S SPIES
THAT ARE FOR YOU.
>> AND THE PROCESS OF UP LYING
FOR ONE OF THESE PPP LOANS
CHANGED THROUGHOUT THE
PANDEMIC.
>> ONE OF THE THINGS THAT'S
BEEN THE BIGGEST CHALLENGE THIS
TIME IN THE SECOND ROUTE HAS,
QUALITY YOUR DUE DILIGENCE
CIRCUS ALL SAYING THEIR USE OF
THIRD-PARTY DATA BASES.
IN THE IN
THE DATABASES YOU THERE'S SOME
PROBLEM WITH CRIMINALITY THERE
SOME PROBLEM WITH TAX
ID 9 NUMBERS ARE ALL ALL KINDS
OF EDITOR ABOUT 39 OR SO
MINUTES THAT ARE
OUT THERE. AND WHAT YOU GET IS
WHAT YOU RECEIVE ONE OF THESE.
ERRORS YOU'VE GOT TO
PROACTIVELY PROVIDE
DOCUMENTATION THAT IS
NOT TRUE AND SO IT'S SORT OF A
GUILTY UNTIL PROVEN INNOCENT
THAT'S IT CORNER BECAUSE ALMOST
10% OF THE APPLICATION IS THAT
WE'VE SEEN COME HAVE HAD THESE
EDITORS OTHERS WE'VE SEEN A 90
TO 95 PERCENT OF YEARS REALLY
HAVE NOT BEEN DOUBT WE'VE BEEN
ABLE TO
CLEAR THEM THAT'S A BECAUSE YOU
GOT TO GO TO CUSTOMERS GET THIS
INFORMATION FOR EXAMPLE, THEN
THEY SEND
THEIR OWN. THEY HAVE BEGUN A
CRIMINAL RECORD THAT THAT
KEEPS HIM I'M GETTING A LOAN
THEY HAVE A CRIMINAL RECORD SO
HEAD OUT HOW THEY GO ABOUT
PROVING THAT MAYBE YOU HAD A
DWI FOR
20% OWNER. YOU KNOW 30 YEARS
AGO YOU GOT TO GET THE
COURT THE INFORMATION ALL THAT
TO PROVE THAT THAT'S BEEN
RESOLVED AND SO ON AND AND IT'S
SO YOUR SON WHEN HE
EXAMINED SO THAT YOU'VE GOT TO
GET WITH CUSTOMERS AND DO IT
THERE'S NOT A PROGRAM THAT YOU
CAN WRITE TO CLEAR THOSE UP
THAT'S BEEN THE BIGGEST
CHALLENGE
FOR US. BUT OTHER THAN THAT I
THINK IS WE'RE WORKING WELL IN
THE SPA'S IMPROVE SOME OF THE
TECH NOW IF YOU GET THAT YOU
SEE TO GET PROCESS FROM PROCESS
AND FUNDED. PERCENT OF THE OF
THE LAWS WE HAVE TO PROVE SO
IT'S GOING WELL IN THAT REGARD.
>> SUCH IMPORTANT WORK WE DON'T
HAVE MUCH TIME LEFT BUT YOU
KNOW I THINK THAT WHAT GETS
LOST IT A LOT OF TALK AND WE DO
THESE STORIES ARE THE REAL
BUSINESSES AND PEOPLE HOO HOO
ARE BENEFITING IF YOU WOULDN'T
MIND IF YOU COULD JUST
TELL US ABOUT A COUPLE OF THE
BUSINESSES THAT YOUR BANK IS
HELP STAY AFLOAT DURING THIS
PANDEMIC.
>> THERE'S JUST SO MANY STORIES
NO ONE TO HELP 19,000
BUSINESSES, THE FIRST TIME AND
THEN 9,000 ALMOST 10,002ND
TIME. JUST JUST JUST MENTIONED
COMING JUST ARE I REMEMBER
THERE WAS A THERE WAS AN ACT
AMERICAN CHURCH
IN HOUSTON. OR THAT'S NOW GOING
TO BE WILL PAY HER PASTOR,
THERE WAS A THERE WAS A BAKER.
THAT IT IS SO HAPPY THAT I'M
GETTING AT THERE WAS LONG A
SERVICE YESTERDAY
THAT WORD. OUR ARE ALSO WAS
TALKING OR 2 OR SO THE LONG
BEEN
APPROVED SHOOT MOSTERT
COMPOSURE SAID I HAVE TO CALL
YOU BACK 20 MINUTES LATER
CALLED BACK AND JUST THANK THEM
FOR ME FOR HELPING HER GET THAT
REALLY PROUD OF OUR FROST
BANKERS HAVE DONE A
GREAT JOB.
>> I'M A STILL FROM THE SBA TO