'Now is not the time for our nation's companies to profit at others' expense. We are all in this together.'
At least 407 publicly-traded companies applied for at least $1.3 billion in coronavirus relief loans under the Paycheck Protection Program, according to data analytics firm FactSquared."Now is not the time for our nation's companies to profit at others' expense. We are all in this together," said Sen. Marco Rubio, R-Fla., chairman of the Senate Small Business Committee, in a statement. The backlash prompted many companies to publicly announce the return of their loans.
As the deadline to return the loans arrives, five news organizations have announced they are suing the SBA for access to information on loan recipients.
ABC News has also unsuccessfully attempted to obtain information on the disbursement of PPP funding from the SBA. The SBA had no comment on the lawsuit.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
PPP Changes Trip Up Small BusinessesAs rules change, some small-business owners worry about keeping SBA loans granted to help them stay afloat during the coronavirus pandemic.
Lire la suite »
Firms that repay PPP loans they didn't need won't be prosecuted after allReversing an earlier threat, the Trump administration said firms that took PPP loans of more than $2 million that they didn’t need can repay the money without legal consequences.
Lire la suite »
'Love & Hip Hop: Atlanta' Star Charged With Fraud After Obtaining $2M PPP Pandemic LoanMaurice Fayne allegedly used more than $1.5 million on jewelry and child support, according to authorities.
Lire la suite »
Opinion | Rep. Katie Porter: PPP loan grift is still happening — Congress can't let greed win againOpinion | Rep. Katie Porter: 'Our smallest, most vulnerable businesses are losing out and at risk of disappearing. That’s especially true for women- and minority-owned businesses, 90 percent of which have been unable to get PPP loans.' - NBCNewsThink
Lire la suite »
Fed outlines terms for lending program and promises full disclosure on PPP recipientsControversy has arisen over the PPP following disclosures that publicly traded companies that have access to cash on the open markets had been applying for and receiving funding.
Lire la suite »
So your financial advisor took a PPP loan. Here's what that means for youMany independent financial advisory shops are also small businesses with a payroll. That means they're eligible to apply for the Paycheck Protection Program. Here's what you should know.
Lire la suite »