3 companies with ties to the Trump admin. received millions under the PPP program. Another got a loan from a bank that once employed its board's chair.
Hallador also shares a director in common with another loan recipient, Ramaco Resources, SEC filings show. Ramaco, a coal producer in Lexington, Kentucky, received $8.4 million under the loan program. Ramaco is one of the companies receiving PPP funds with a valuation of at least $100 million.Crawford United, a holding company based in Cleveland, Ohio, received a $3.7 million loan. Edward F. Crawford, a board member of the company since 2012, was sworn in as U.S. ambassador to Ireland last June.
The SEC filings analyzed by NBC News also show three related hotel property companies and one restaurant concern that received more than the $10 million maximum under the program. They did so by applying through subsidiary companies, which the rules do not prohibit. The parent company of Ruth's Chris Steakhouses received $20 million but announced Thursday it was returning the money.MiMedx Group, a maker of skin grafts that received $10 million, is trying to move forward after settling with federal investigators over its accounting and sales practices. Three weeks ago it agreed to pay $6.5 million to settle Justice Department accusations it had overcharged hospitals run by the Veterans Administration.
Environmental Protection Agency Administrator Scott Pruitt during a hearing on Capitol Hill on April 26, 2018.Some merchants are hoping the government's second fund of $320 billion may reach more Main Street businesses. That's possible because the new program assigned $30 billion to small banks and community development financial institutions serving low- and moderate-income communities.
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