The Small Businesses Administration’s massive data dump that included the names of over 650,000 Paycheck Protection Program recipients revealed no shortage of eyebrow-raising beneficiaries of the taxpayer-funded, potentially forgivable loans.
The Paycheck Protection Program authorizes forgivable loans to small businesses across the United States.Kanye West’s fashion brand. Investment firms that manage billions. Businesses tied to the Trump family and owned by prominent lawmakers. The Church of Scientology.
"As the largest stimulus program in our nation’s history, PPP must receive proper oversight and transparency," John Arensmeyer, the founder and CEO of the small business advocacy organization Small Business Majority, said in a statement."The survival of America’s small businesses depends on the full disclosure of PPP’s successes and failures."
Mnuchin said in a press release that the data unveiled by the SBA this week"strikes the appropriate balance of providing the American people with transparency, while protecting sensitive payroll and personal income information of small businesses, sole proprietors, and independent contractors." "[Kanye West] may have needed it -- I don't know, I can't count anyone else's money. I can only count my own money, and I know that I needed it," Isom said.
"I'm trying to think about whether I'm going to close, which I really don't want to do. That's my passion," said Isom, who is a mother of four."I love watching children. And I can't really get out there and look for a job because no one is really hiring," she said. "I'm just trying to plan my Plan B and Plan C. That didn't work out so I have to move on," Isom said."We're survivors, I guess."The Trump administration, meanwhile, has used the data release as an opportunity to hail the PPP’s success.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Florida Democrats return PPP money amid scandalThe Florida Democratic Party is returning its small business loan after its own lawmakers criticized the acceptance of the money as highly questionable if not illegal and unethical
Read more »
Billionaries, lobbyists reap PPP loan windfall'Lots of other multimillionaires and billionaires ... and private jet companies were feeding at the government trough while small businesses went bankrupt,' JoyAnnReid says on PPP loans. “The reverse robin hood list reads like a political dossier.”
Read more »
Billionaries, lobbyists reap PPP loan windwall'Lots of other multimillionaires and billionaires ... and private jet companies were feeding at the government trough while small businesses went bankrupt,' JoyAnnReid says on PPP loans. “The reverse robin hood list reads like a political dossier.”
Read more »
Startups backed by Andreessen Horowitz, other VC firms got PPP loans - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »
Lil Jon on Taking PPP Loan: 'I'm Doin' What I Can to Support My Team''I'm doin' what I can to support my team.' Lil Jon explains to us why he and so many other major artists took PPP government loans
Read more »
Wendy's franchisee spent $1 million in PPP loans on house: lawsuit - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »