Facing public backlash, government warnings, and private misgivings, more than a dozen publicly traded companies and big businesses have so far announced they have returned, or intend to return, small-business coronavirus relief loans issued by the Small Business Administration.
Over a million businesses large and small applied under the loose guidelines that said companies must have fewer than 500 employees and be able to demonstrate economic injury due to the coronavirus shutdowns. The SBA and Treasury Department issued new guidance this week, clarifying that the loans were not intended for companies with access to the equity market. Treasury Secretary Steven Mnuchin warned companies last week that could suffer consequences if they could not certify they were facing economic injury. Companies have until May 7 to return funds"in good faith."
patricelauren1 Definitely not the ones with Trump Hotels name on it! Nancy Polosi got millions for funding Abortions for Planned Parenthood as trade off to approve two trillions dollars Stimulus Package!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Disastrous' situation as PPP loan system crashesStephanie Ruhle discusses the problems from the latest round of funding from the Paycheck Protection Program and the president's reaction. SRuhle PPP was supposed to help families and small businesses. It appears that the 💰 is not going there. But you are rushing ppl back to work. No money for small businesses. So where is the money going. SRuhle because they made businesses reapply. makes absolutely no sense. what a joke our government is. fails us on a daily basis.
Source: MSNBC - 🏆 469. / 51 Read more »
L.A. Lakers qualified for an emergency PPP loan — why didn't nonprofits?Not only are nonprofits being skipped over by coronavirus-related aid, they have had to cancel valuable fundraising events because of social distancing lockdowns. LA Lakers is a small business now? WTF! Eat only vegetarian foods
Source: NBCNews - 🏆 10. / 86 Read more »
Stephanie Ruhle: PPP loan distribution was ‘disastrous,’ an ‘absolute failure’NBC News Business Correspondent Stephanie Ruhle says the execution of the new round of PPP loan distribution was ‘disastrous’ : “I spent my entire day talking with people who couldn’t get on the system … You know what happened with the system? It broke down.” SRuhle Check out my Gig on Fiverr: do Facebook marketing, Instagram marketing and manage ads SRuhle Tara Reade had the same problem but you can't say her name. SRuhle Talk about broken down...
Source: MSNBC - 🏆 469. / 51 Read more »
Even The LA Lakers Got A PPP Small Business LoanThe Los Angeles Lakers — one of the NBA's most profitable franchises — have returned money they received from a federal loan program intended for small companies. More than 200 public companies are still holding onto money from the program. Sure do love them little ma-&-pa NBA franchises. Publicly traded companies have shares they can issue or various other ways to raise money this whole PPP Small Business Loan program is a complete fraud joke corruption whatever federalreserve Where can we find a list of these public companies?
Source: NPR - 🏆 96. / 63 Read more »
Los Angeles Lakers' small business PPP loan 'outrageous,' Mnuchin says - Business InsiderTreasury Secretary Mnuchin said on CNBC Tuesday that he's a big fan of the team, but not of it receiving a loan meant for small businesses. I don't think it's right that we make companies spend their reserves for a government decision to shut down the economy. This wasn't due to bad business practices. They should be entitled the same programs every other business is afforded. If notenough money that's on Congress. Man the players get more than that what they need that for? Absurd. Good job Lakers 👏🏽👏🏽👏🏽👏🏽
Source: BusinessInsider - 🏆 729. / 51 Read more »