'It has come to our attention that some private schools with significant endowments have taken #PPP loans,' Mnuchin wrote on Twitter, 'They should return them.'
The New York Times
The now $660 billion tax-payer funded program designed to help small businesses during the novel coronavirus pandemic has been subject to public criticism over which businesses are worthy of federal aid. The assistance effort created to help businesses with fewer than 500 workers resumed Monday after lawmakers introduced another $310 billion into the program after the initial $349 billion ran out.
Several big companies, including the Los Angeles Lakers and Shake Shack, have returned federal aid after public outcry over qualifying for small business loans via a loophole that allows businesses with fewer than 500 employees in a location to receive the funds.
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Treasury Secretary Mnuchin says well-heeled private schools should return federal loansA day after the latimes reported that the a K-8 private school that Treasury Secretary Mnuchin's children attend recieved a loan, Mnuchin said schools with significant endowents should return the money.
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Elite private schools are taking federal loans — including one attended by Secretary Mnuchin's kidsAmid the coronavirus crisis, some elite private schools have received a loan from the federal Paycheck Protection Program — including Brentwood School in Los Angeles, where Treasury Secretary Steven T. Mnuchin's children are students.
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Mnuchin sends top deputy to fix small-business loan messTreasury Secretary Steven Mnuchin has tapped his most trusted lieutenant to help guide the $670 billion small business loan program that's intended to save millions of jobs during the Covid-19 pandemic
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Coronavirus stimulus checks: Payments to dead relatives should be returned, Mnuchin saysRelatives who have received a stimulus payment for a deceased family member must return it to the federal government, according to Treasury Secretary Steven Mnuchin.
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Smallest businesses get a few hours at head of coronavirus relief loan lineThe Small Business Administration said late Wednesday it had approved more than 960,000 loans totaling nearly $90 billion in this round of funding.
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