Tag: COVID Loans

Nearly 20% of Canadian Small Businesses Risk Closing if COVID Loan Deadline Not Extended: Industry Group

June 18, 2023
Canadaceba loansCOVID Loanssmall business canadaWorld
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A quarter of a million small businesses in Canada, roughly 19 percent of all small businesses in the country, may have to shut down next year if the government does not extend a deadline to repay COVID loans, according to an industry group. The Canadian Federation of Independent Business (CFIB) issued a statement on June…

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Britain’s Lloyds Racks up $350 Million of Likely Scam COVID Loans

September 7, 2022
Business & MarketsBusinesses in COVID-19CompaniesCOVID LoanseconomyLloyds Banking Groupscam
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LONDON—Lloyds Banking Group has been hit by more than 300 million pounds ($348 million) of suspected fraud linked to COVID-19 pandemic-era recovery loans for small businesses, the highest among big bank peers, according to government data. British banks overall have classified some 1.1 billion pounds worth of the emergency lending scheme known as “bounce back”…

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California Man to Plead Guilty for Stealing Over $5 Million in COVID Loans

June 6, 2022
CaliforniaCCP VirusCOVIDCOVID LoansCrime and IncidentsirvineLocal NewsOrange CountyRegional NewsRegional-Local NewsSouthern CaliforniaSouthern California OC NewsUS
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IRVINE, Calif.—A 35-year-old Orange County man, who is accused of fraudulently obtaining more than $5 million in COVID-19 relief loans on sham companies, agreed to plead guilty to federal criminal charges, a U.S. attorney said in a June 3 statement. Raghavender Reddy Budamala, of Irvine, confessed to one count of bank fraud and one count…

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