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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBREAK: Steve Mnuchin's exclusive LA country club scored a PPP loan worth at least $2 million.
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BREAK: Steve Mnuchin's exclusive LA country club scored a PPP loan worth at least $2 million. (Original Post)
EleanorR
Jul 2020
OP
Hoyt
(54,770 posts)1. If they keep employees on as required, I'm OK with it. They ought to shutdown by Health Dept, though
or as a public menace.
EleanorR
(2,393 posts)3. We'll may never know since trump fired the IG
As part of its $660 billion small-business relief program, the SBA also handed out loans to private schools catering to elite clientele, firms owned by foreign companies and large chains backed by well-heeled Wall Street firms. Nearly 90,000 companies in the program took the aid without promising on their applications they would rehire workers or create jobs.
Questions remain however about how the program has affected jobs. The programs rules require that borrowers show their lenders how many jobs they have retained to have their loans forgiven.
Among the loan recipients, 48,922 reported zero as the number of jobs they would retain with the money, and 40,506 applicants appeared to leave that section blank. It appeared that 10 other companies received between $5 million and $10 million but reported retaining only one job with the money they received.
Among the loan recipients, 48,922 reported zero as the number of jobs they would retain with the money, and 40,506 applicants appeared to leave that section blank. It appeared that 10 other companies received between $5 million and $10 million but reported retaining only one job with the money they received.
https://www.washingtonpost.com/business/2020/07/06/sba-ppp-loans-data/
Hoyt
(54,770 posts)4. They will be audited. Also, a lot of organizations Democrats favor got loans
and grants.
Companies who dont keep on employees, cant legally convert the loans to outright grants.
2naSalit
(86,646 posts)2. Imagine that.
leftyladyfrommo
(18,868 posts)5. Those air conditioned golf carts are expensive. nt