The deadline for publicly traded companies to return their Paycheck Protection Program loans to the IRS without penalty is Thursday.
As the deadline to return the loans arrives, five news organizations have announced they are suing the SBA for access to information on loan recipients.
President Donald Trump has indicated a willingness to release a full list of businesses that have received PPP loans. But the SBA has never publicly released information about PPP loan recipients, despite repeated requests for information from the press, and despite multiple requests under the Freedom of Information Act .Advocates say demographic information about PPP recipients can help taxpayers and lawmakers understand if the funds made it to the intended recipients.
The PPP program began with an initial $350 billion available in loans, and has since been replenished by Congress with an additional $310 billion. The initial round of funding was depleted in 13 days, while the second round was made available April 24. Nearly $120 billion was still available as of May 13.
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Lawsuit seeks data on PPP small business loans as large companies face deadline to return fundsA group of news outlets is joining forces to compel the Small Business Administration to reveal the names of all the companies approved to receive PPP loans. OVERSIGHT American Greed is real
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Firms that took a PPP loan under $2 million are about to get a breakBusiness owners who were worried about proving their need for emergency funding can breathe a little easier for now. The Treasury Department and Small Business Administration is granting 'safe harbor' for firms that borrowed less than $2 million.
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Why GoDaddy Billionaire Bob Parsons Gave Back His $8 Million PPP LoanHaving received a stimulus check for his many businesses—including a golf equipment company and Harley-Davidson dealerships—the serial entrepreneur explains his abrupt U-turn. KristinStoller A formal suit, a motorcycle, and a set of golf clubs. This is an odd staging of a photograph. KristinStoller Because..he's.. a..billionaire? Or he wants to fire people... Either one So he could get a write up by a sycophant FakeJournalist at forbes DUH
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Opinion | Rep. Katie Porter: PPP loan grift is still happening — Congress can't let greed win againOpinion | Rep. Katie Porter: 'Our smallest, most vulnerable businesses are losing out and at risk of disappearing. That’s especially true for women- and minority-owned businesses, 90 percent of which have been unable to get PPP loans.' - NBCNewsThink THINK THINK THINK It’s sad, however lives are more important.
Source: NBCNews - 🏆 10. / 86 Read more »