Johny Fernandez: Welcome to deBanked news. I'm Johny
Fernandez. If you're a business owner that needs PPP, you're in
luck. The Paycheck Protection Program reopened last week. The
program is offering forgivable loans to small businesses and
allowing certain cash strapped firms to borrow for a second
time, Congress authorized up to $284 billion towards the small
business loan program as a part of the sweeping COVID Relief Act
that went into effect near the end of 2020. The SBA said that
it will be offering second PPP loans to qualifying businesses
starting this week. Affirm has gone public. The online buy now
pay later platform went public on the NASDAQ at $49 a share
based on outstanding shares sold to IPO investors, the company
saw an $11.9 billion valuation. Now minutes after public sales
began the price shot up to about $100 a share. The company's
founder spoke through the big NASDAQ Street in Times Square as
he virtually rang the starting bell, take a listen to what he
had to say.
Speaker 1: At affirm, we imagined a better way, a more
honest way to facilitate value exchange. So we built a new kind
of payment network that is focused on transparency and
leverages modern technology to deliver meaningful value to both
consumers and merchants. By offering our shares to the
public, we're inviting like minded individuals outside
affirm to share in our mission and to help us create a future
financial service.
Johny Fernandez: Affirm makes money when a customer uses their
tech to make a purchase at the point of sale. If you have
Bitcoin, you're gonna want to take a listen to this. You can
now put your money where your mouth is literally, a Manhattan
bar owner is bowing out and banking on Bitcoin to sell his
restaurant. This could be the exclusive first cryptocurrency
restaurant sale here in the US. Now Patrick Hughes, the owner of
a Hellcat Annie's and Scruffy Duffys announced last week that
the price tag for the restaurants is a whopping 25
Bitcoins. Now the value of 25 Bitcoins is $875,000 by current
cryptocurrency prices. Hughes says that he's selling the
restaurant by using Bitcoins because, quote, "Crypto is on
fire, it's a hot currency". Hughes is among countless
investors, also institutions and everyday Americans who see
cryptocurrency as a legit alternative to the dollar. So
what would you use 25 bitcoins or $875,000 on? Give us a shout
and let us know. I'm Johny Fernandez with deBanked News.
We'll see you next time.