Brex Helping Clients to Apply for PPP Funds

Corporate credit card fintech Brex is helping their clients to apply for PPP capital through partner bank Radius Bank; the company has rolled out a set of webinars to help SMBs understand the program and if it is a fit for them; Brex warns companies against inflating costs and hiring new people as the loan is not intended for anything but current payroll and limited costs; Erica Dorfman, VP of Cash at Brex, tells Business Insider, “When you sign up for these funds, you are attesting to the fact that you need this funding and you are attesting that to the government. There are severe consequences if you defraud the government.”; the program is not for everyone and Brex advises companies to ensure the loan is for them; each company should meet with their boards to weigh the risks of applying for the PPP capital. Business Insider

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