In the effort to distribute small business loans under the CARE act to those being affected by
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Question:
In the effort to distribute small business loans under the CARE act to those being affected by the current crisis, many financial institutions state that they will put a priority on borrowers who already have an established relationship with them (e.g., preexisting loans, business credit cards, etc.).
However, the pool of funds approved by Congress can dissipate quickly due to huge demands and borrowers at the back of the queue might not get anything if not served promptly.
Question: Discuss the business and ethical implications of the banks' actions and comment on how you would do if you were a lender.
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