Owner Mark Cuban of the Dallas Mavericks reacts prior to the game against the Philadelphia 76ers at the Wells Fargo Center on December 20, 2019 in Philadelphia, Pennsylvania.
Mitchell Leff | Getty Images
Billionaire entrepreneur Mark Cuban said Friday that small businesses should apply to multiple banks in order to boost their chances of receiving a loan through the Paycheck Protection Program.
“If you’re a small business and you happen to bank at a big bank, it’s OK to go find a small community bank and apply there as well,” he said on CNBC’s “Squawk Box.” ”There’s no rules against having multiple applications. You just can’t take multiple loans.”
The always-outspoken “Shark Tank” investor has been particularly vocal during the coronavirus crisis, arguing that workers must be a priority in government relief efforts.
He’s also been critical of the roll out of the Paycheck Protection Program, warning that some banks were leaving small businesses “out in the cold.”
Cuban, owner of the NBA’s Dallas Mavericks, is a member of President Donald Trump’s advisory council on how to help the U.S. economy recover from the pandemic-related shutdowns.
— Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank,” on which Mark Cuban is a co-host.