Tag: PPP loans

Watchdog Says $684 Million in Pandemic Loans Went to ‘Potentially Ineligible’ Nonprofits

September 28, 2022
Business & MarketsCompanieseconomic policieseconomynonprofit organizationPPP loanssmall business administrationUSUS News
0 Comment

The Small Business Administration (SBA) likely distributed hundreds of millions of dollars’ worth of Paycheck Protection Program (PPP) loans to nonprofits that may not have been eligible to receive such funds, according to the Office of the Inspector General (OIG) of the SBA. The PPP was established under the Trump administration and aimed at helping…

Read More

15 People Arrested for Allegedly Using ‘Paycheck Protection Program’ Loans to Bail Themselves Out of Jail

September 22, 2022
COVID-19 reliefCrime and IncidentsFraudIllinoisLocal NewsPolicies & ImpactsPPP loansRegional-Local NewsUS
0 Comment

Illinois police have arrested 15 people after an investigation found they allegedly applied for and received multiple Paycheck Protection Program (PPP) loans, which they then used to bail themselves out of jail. In total, 25 people were discovered to have been part of the alleged fraud, according to Fox 32 Chicago. At the time of…

Read More

Hollywood Elites Benefit From Forgiven PPP Loans

August 19, 2022
Business & Marketscovid-19 relief packageeconomic policiesEntertainmentHollywoodPolicies & ImpactsPPP loansUS
0 Comment

Wealthy celebrities benefited from the government’s Paycheck Protection Program (PPP) loans that were disbursed during the COVID-19 pandemic. The loans were largely intended to make small businesses retain employees as well as hire back laid-off workers. Rapper Jay-Z’s two firms, for example, received PPP loans. Champagne brand Armand De Brignac Holdings, in which Jay-Z owns…

Read More