Big Banks Favor Certain Customers in $350 Billion Small-Business Loan Program

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Griff Neal set his alarm for 3 a.m. on Friday so he could be among the first to apply for a loan under a new federal program designed to help small businesses weather the coronavirus pandemic.

Bank of America Corp. turned him away that same morning. The reason: The auto-parts supplier he runs, Encap Technologies Inc., hadn’t borrowed from the bank before.

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Credit: WSJ.com: Markets



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