CHICAGO - Iowa-based seed companies owned or partially owned by billionaire Harry Stine won approval for at least six loans - totaling $2.55 million to $6.35 million - in the first round of the federal government’s pandemic aid program for small businesses, an analysis of government data showed.
Stine Seed, one of the largest independent U.S. seed companies, produces and sells corn and soybean seeds to farmers around the Midwest. So far, the coronavirus outbreak has not caused serious disruptions for commodity seed companies or dealers, trade groups and industry analysts said. The loans to Stine’s companies, which have not been previously reported, highlight broader concerns about how the Trump Administration has managed the $660 billion Paycheck Protection Program and how wealthy individuals and well-connected companies had greater access.
Applicants to the taxpayer-funded aid program, such as Stine Seed, had to certify they needed the cash to cover basic needs like salaries and rent. The government disclosed recipient names for PPP loans of $150,000 or more, and ranges for loan sizes.
This keeps people working and that’s a good thing
Dripping in socialism. I have nothing but disdain for the whole rotten lot. What a heaving shitshow.
AmericanOligarchy
American socialism...when it suits them.
Mais bien sûr! This is par for the course. What else would you expect?
Hallelujah! JesusSaves alllivesmatter ALM
Figures, Devin Nunes, Jared Kushner, & myriad other Repubs got millions in PPP aid while -working to cut SNAP, overturn Obamacare, & ensure that working ppl lose every govt benefit the GOP can snatch away during a recession & pandemic -making govt out to be the root of all evil