The richest ZIP code in the US, a private island off the coast of Miami, applied for a small business loan. It received $2 million in funding — but residents voted to reject it.
, administration and human resources, public safety, and landscaping, according to its website. The association did not immediately respond to Business Insider's request for comment regarding how it had planned to use the funds it had applied for., the island's membership arm, include a spa, a market, a medical clinic, a car wash, a dry cleaning company, and guest villas. Of the island's six restaurants, one has closed and five are open for takeout or delivery.
After island residents voted against taking the loan, FICA's board of directors voted unanimously to turn down the $2 million, according to the Herald.But while an island of millionaires got approval for a $2 million loan, small businesses across the US struggled to receive their share of government aid. The Paycheck Protection Program, a $349 fund of federally-backed loans meant to help small businesses, was depleted in just 12 days. As, large companies seemed to get priority for the loans.
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