News

Businesses at properties owned by the Trump Organisation and Kushner Cos. benefited from over 25 PPP loans worth $3.65 million, a new report says

Businesses at properties owned by the Trump Organisation and Jared Kushner’s family received 25 Paycheck Protection Program loans, which amounted to $US3.65 million, NBC News reported. The Treasury Department rolled out the program to keep small businesses afloat during the pandemic. But the newly released data showed many larger companies […]
Businesses at properties owned by the Trump Organisation and Kushner Cos. benefited from over 25 PPP loans worth $3.65 million, a new report says
News

The US government will do a ‘full review’ of any company taking a small business loan over $2 million after massive corporations took advantage of the program

As $US310 billion in new funding replenishes the Paycheck Protection Program, small businesses can expect more oversight. Treasury Secretary Steven Mnuchin said Tuesday that loans over $US2 million will undergo a “full review” before they’re forgiven. At least 220 publicly traded companies took loans from the program. 15 have said […]
The US government will do a ‘full review’ of any company taking a small business loan over $2 million after massive corporations took advantage of the program
Lifestyle

A luxury hotel company that owns multiple Ritz-Carltons received millions in small-business aid thanks to a loophole in the coronavirus bailout program

Three public companies chaired by hotel executive Monty Bennett have received $US59 million in Paycheck Protection Program (PPP) coronavirus relief funds intended for small businesses, effectively making Bennett the biggest winner in the small-business bailout, the Wall Street Journal reported. On April 16, the PPP’s $US349 billion fund dried up […]
A luxury hotel company that owns multiple Ritz-Carltons received millions in small-business aid thanks to a loophole in the coronavirus bailout program
Tech

The Small Business Administration just told thousands of businesses applying for disaster loans that their personal information was mistakenly leaked

The Small Business Administration has told nearly 8,000 businesses that their personal information was exposed on its website, a representative confirmed to Business Insider. The leak affected businesses that submitted economic injury disaster loan applications through the SBA’s site. A bug was mistakenly showing applicants’ personal information, including Social Security […]
The Small Business Administration just told thousands of businesses applying for disaster loans that their personal information was mistakenly leaked
Strategy

Big banks may have just killed the government’s $349 billion relief effort to save America’s devastated small businesses

Applications for forgivable loans for small businesses opened on April 3, but last-minute changes have thrown the program into chaos. Banks, fintechs, and other financial institutions were expected to perform a critical function in processing and disbursing funds for the $US349 billion small business relief program. But a combination of […]
Big banks may have just killed the government’s $349 billion relief effort to save America’s devastated small businesses