June 23, 2020
Long Island Press quoted Advisory Partner Richard Izzi in an article about the difficulties faced by small businesses in obtaining forgivable PPP loans.
Long Island Press
By Claude Solnik
Excerpt:
Richard Izzi, a partner in transaction advisory services at Manhattan-based Marcum LLP, which has large Melville operations, says many companies didn’t get loans the first time around due to demand, regardless of amount. He says many companies in the second round often got funded “through banks with which they didn’t have a previous relationship.”
“They were overwhelmed,” he says of banks, citing a $2 million loan not obtained in the first round, but later approved.
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