Continental Materials makes heating and cooling equipment and construction products. While it had more than $100 million in sales last year, it qualified for the loan because it meets the Small Business Administration's industry-specific"small business" size standards, according to company chief financial officer Paul Ainsworth.by the Small Business Administration last week.
"We had planned to furlough people and we delayed those plans," he said."To the extent that we had to let people go, we're hiring them back." The business advocacy group NFIB surveyed a random sample of the 300,000 businesses in its membership database, and found that onlyof businesses that tried to apply for a PPP loan were able to successfully submit an application.
I wish all of these people contract the virus, gasp for air, and just go to the next life. Getting sick and tired of y’all. DieProudWithCovid
No surprises there.
What’s the issue/story?
And sure they were not small business. Impeached Putz
Wasn’t Ivanka made head of the $1.8 billon SBA emergency loans program. How was this money allocated? Who decided who got it? Are all the documents public record? Who ran this program for real?
What, you think no companies with close ties to Biden or Pelosi got any loans Come on NPR really!
MattLorenzo
Now that's white privilege!
So?
What you have here is a bad case of OSS Overflowing Swamp Syndrome - the only known cure is a swift Trumpectomy !!
PoliticalAnim13 This is just ridiculous! A business with $100 million in sales last year gets a free $5million? Outrageous! I have friends with small businesses shutting down permanently! They had employees depending on their job! Criminal. Rich just get richer.
So they should be ineligible because they are associated with Trump? The banks, not trump are processing these loans
Get the list of all the companies that got the money and how much they got
Unlike the Chinese lobbying agreement with Hunter Biden's firm, this company filed all required paperwork and it was done publicly and according to the rules. Unlike the $93,000 per employee that NPR got from taxpayers, this looks like like nothing out of the ordinary.
Seems like only the greediest of corps and conglomerates will be getting the SBA loans and leaving those true small mom and pops to unfortunately lock their doors indefinitely until we actually take care of this country
This lying FakeNews smear-piece against realDonaldTrump is SpeakerPelosi getting her money’s worth from npr. Remember, she insisted on a bunch of money for NPR in the CARESAct.
Y'all better stop these assholes, or prepare for Elysium
TO BE A FLY ON THE WALL, AND HEAR HOW MANY OF THESE DID TRUMP GREEN LIGHT HIMSELF. DESPICABLE!! CORRUPT AND SHAMEFUL!!
Very disappointing to hear it was used in this way; make the company give it back!
RobertBenincasa This article doesn’t quite meet the standard of objectivity one would hope for. Gidwitz is a Trump appointee, but it’s not until the last paragraph that we’re told he stepped down from the board of this company years ago.
A politically motivated 'media' working for the Dems. Considering the wealth of Pelosi and the rest of the members of Congress and their time in office, logic would dictate that almost every decent-sized company LEGALLY receiving help from this program is connected somehow.
So what? Hit piece against a business...shame on NPR.
If this “article” (hit piece, propaganda piece, lie-fest) needs to exist it should have the headline: “Company with zero ties to realDonaldTrump qualified like every other company that qualified for money to help laid off workers regain their jobs.”
How is this not socialism for the rich?! When the government picks winners and losers, your liberties are lost.
This article is why the term “FakeNews” exists.
You should have lead with “Ainsworth said the loan is not related to any political activities of company leaders, and he noted Ronald Gidwitz' resignation upon his appointment as ambassador.” It’s a LOAN, not a handout of $5.5 Mil. Nothing to see here.
The Game Show Host Strikes Again
Not surprised
Is anyone surprised? Follow the money...
Trying for america?
Rigged with Mnuchin
This is an attempt at a political hit job. It’s failed. No wonder you hacks are always begging for money on the air.
Those who think this wasn't going to happen VOTE FOR STUPID ....OTHERWISE
So?
And gets so much funding from Ds support in Congress to attack conservative viewpoints. Scroll thru headlines and it clearly shows it's bias.
This is sick. So many small businesses need the loan and only the rich, get it.
A CFPB-like group needs to be formed as part of the 4th relief package to audit these big money payouts and determine whether these were legitimate loans or if they need to be penalized for unethically exploiting a system. There just be zero tolerance for this behavior.
What’s next? “People who voted for a Trump receive millions from government program passed by Congress”. NPR might as well be MSNBC at this point.
Of course they got their loan during the current challenge. Why? They are part of the Trump ass kissing party.
This is such a NON STORY they’re a small business just like my company $80M sales and 200 employees and my brothers company that has three employees also receive loans. There’s no priority rules based on size
Oh no you got him this time
It's a company qualifies for PPP it doesn't matter who they know there a family-owned company that struggling just like a lot of small businesses are struggling.
Breaking news, lifetime businessman DJ Trump knows other people who own a business in America. 🤦♂️
You know who else received small business loans? Universities, who combined, took in more than 5.5 million. Harvard alone received 9 million. Let’s not forget Kennedy Center 25 million who laid off their employees afterwards. But this is your go to story.
He fired the IG so Republicans could steal the relief money. BUT it is still our money and we can still see where it went. It is not as hard to track as say Russian money laundered through Deutsche Bank to do phony purchases of real estate from American crime syndicates
BIDEN
Still think the only corrupt politicians are in Puerto Rico. I say they have great mentors.
probably to buy their own stock
realDonaldTrump senatemajldr GOPLeader LindseyGrahamSC SenMcSallyAZ
Because Trump removed the oversight IG of the stimulus.
BREAKING: Businessman knows other businessmen who are utilizing emergency funding in the manner it is supposed to be used
Not surprising. Political favors have been going on a long time. Regardless of political party.
Are they hiring?
The competitive bidding by states for PPE and now tests/testing is not only damning to the people who’s lives depend on it but taxpayers end up footing a bigger bill driven by profit-seeking private industry. POTUS maddow MSNBC CNNPolitics JoeNBC morningmika SRuhle
Doesn’t Trump “have ties” to tens of thousands of businesses? You could have written this article before the money went out... Lazy Hacks
Obviously
GOP DOUGH BOY at work
i'm not sure why this is so surprising to anyone
We don’t need to go all the way to Ukraine to look for corruption.
Of course
Color me shocked.
The loan amount is 2.5 times payroll cost with a salary cap of $100k and max loan of $10 mill. So a company followed the rules and received a lien that complies with the requirements. This is newsworthy why?
Well, here's my thought...the reason why some small businesses cant get the loan is because the government needs a record of employee compensation. If a business paid under the table, they will have a hard time getting that loan. Call it a makeshift tax audit.
Seems fair
Grifters....
call 1 800 me so hurt
A “small business” does not make $100M in sales. A small business doesn’t make $1M in sales. A small business scrimps and saves to keep the lights on and the doors open. Criminal!
Banks are in charge of processing the loans and clearly are favoring their best clients. Banks playing favorites.
t6tina1 Big_Daddy_Trump
Our small business will close if we don't get some help soon! Will someone, anyone listen to us SmallBusinessOwners ? Keith's Trophy Supply - Stockton, CA
This is unbelievable. When donald said he was going to make everything great, he was talking about for himself. That’s all he cares about, understands. And really truly dumb people fell for it!
Of course.
He knows most of Manhattan. This isn't news.
Is this true?
GOPHypocrisy
this country has never cared about small businesses (or at least not for many decades) it likes to present as if it does- but it does not they survive (if they do) because owners bust their humps and they find enough loyal customers but america IS WALL STREET not Main Street
Shocker 🙄
Oh for fuck’s sake
They stole so much money!!!!
He got rid of all oversight.
Debacle.
shocking 🙄
Seems legit. 😑
TrumpDerangementSyndrome FakeNews defundNPR
It’s very tough to get a loan without having a previous banking/lending relationship with a bank. The banks are not underwriting the loans since they are foregivable, but the banks have to still perform their anti-money laundering checks, which they can’t do for new clients now
Corruption is to the point where I wonder if the masks I ordered on eBay which have been taking their time getting to me somehow got seized and went up some GOP middleman’s ass
Nice try at deflection. Pelosi blocks coronavirus small business funding.
GOP DOUGH BOY
You know you a holes how about brining public all the money universities got with BILLION DOLLAR endowments. You assholes miss the real problem just hate Trump. Your the ones who don’t deserve funding
So SpeakerPelosi needs to get her useless self back to work so small businesses can get the help they need - why don’t you report THAT ?
Shocker ...no
This literally should not surprise anyone. Be ready for more companies with Trump ties to be disclosed as receiving large sums of money while true small businesses continue to struggle and be denied. Where’s the outrage, senrobportman ?
It have been smarter to only let small companies with less than 25 employees sign up for the first week so those with the greatest need got the money first. Instead, the larger companies who have banking relationships with the bigger banks, took the lion's share of the money.
Why am I not surprised!
BUT WHERE'S HUNTER?
Rolling out money is not happening for anyone except the big businesses. TrumpOwnsEveryDeath
I'm sure the company's owner has Donald on Speed Dial, too. And I bet they both laughed, laughed! and said 'make sure these other companies get nothing! Mwahahaha!' God damn, NPR. I know you guys hate Trump and all, whatever, but this is so petty.
How is this relevant NPR? Have you explored any powerful people who received money with close ties to President Obama, Clinton, etc?
That's why he fired the IG and doesn't want oversight!
So what we learned from this article is 72% isn’t a lot and if a guy quits a company 2 years ago it will still be brought up if it can in any way make it look like trump is doing something wrong. Jesus you guys have been shitty lately.
Making America Great Again? Nothing great about millions receiving small business loans. How greedy.
If a companies payroll is $5.5 million for 2 months, they certainly didn't need a loan like smaller businesses do.
If this comes as a surprise, you haven't been paying attention.
“445 Workers Kept Off Unemployment, NPR Whines”
What about the $170 Billiin dollars going to wealthy real estate investors including tRump and Kushner?
This is obscene. These are the same people that always complain about big government, until they need to be “bailed out”.
No way...........!🙄
What a surprise. I hate this. I wish he would just go away with his cult to a far away island.
More ankle-biting crap from the publicly funded Democrat Party media office calling itself NPR. We know what you are.
Part of the syndicate
Shocking
ya sure...
Not surprising!
are you surprise hahahahahaha
Perhaps Congress should rethink the number of employees in businesses who are eligible for loans? And their income?
Gee. I'm surprised. ..........
I mean why are people surprised by this? It’s been going on for 3+ years
trump org got a yuge loan
No surprise! He is the “Don-Father”!!!
Not even a tiny bit surprising
What about Harvard? They have a huge surplus and they got 9 million!!! Insane!!!
Lmao. npr is an embarrassment
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCNews - 🏆 10. / 86 Read more »
Source: NBCNews - 🏆 10. / 86 Read more »
Source: cnnbrk - 🏆 393. / 55 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: USATODAY - 🏆 100. / 63 Read more »