The Trump administration has relented to public pressure and pledged to provide more details about which small businesses received loans from a $600-billion-plus coronavirus aid program. But government watchdogs say even more transparency is needed to get an accurate picture of who was helped, and who was left out.
Experts say this could paint an incomplete or misleading picture. Recipients of smaller loans could be part of a bigger company that would be hidden, and it won’t be clear what percentage of loans went to minority-owned businesses.A factory located in a minority neighborhood, for example, could be owned by an individual or conglomerate based elsewhere.
Sen. Marco Rubio, the Florida Republican who heads the Senate Small Business Committee, said Friday that Treasury’s plan to disclose more information strikes the right balance.As of Friday, the SBA said it had processed 4.6 million loans worth about $512 billion. Nearly 75% of the money approved so far has gone to businesses borrowing more than $150,000. But 86% of the loans have gone to businesses borrowing less than $150,000, according to the SBA.
The pandemic has caused a deep recession and the U.S. unemployment rate is above 13% after falling slightly in May. Economists have said the small business loan program has helped, although it’s hard to know by how much.The SBA has so far only provided general information about the beneficiaries of its loans, such as the industry they are in and the state in which they are located.
Republicans stealing the money for personal gain!
I’ll believe it when I see it.
When? I don’t believe they mean it. They will hide the truth.
They haven’t relented if they haven’t provided the information. A pledge to do something is this administrations way of saying f*** off.
Good! When? It’s a simple computer query.
InOtherWords The Family of Grifters and their like-minded $windlers have concocted a way to ENRICH THEMSELVES while others fall sick n die ... But they're formalizing a CYA plan to cover the GRIFT Bc Free Money 💰 💰 💰is how they see it
To think this was acceptable in the first place shows you their corruption and narcissism at the same time
. BEWARE J.Q. PUBLIC!!! Donald is the TWITTER DISTRACTION. Bill Barr & Stephen Miller are the behind-the-scenes ACTION!
Надеюсь,что это правда
The big robbery act of 2020 and the art of the gangsters regime $500 billion slush fund to itself.🤔
USTreasury, word on the street that you are refusing to be transparent because taxpayer money is finding its way to realDonaldTrump's businesses. Better to dispel this sort of story, right?
kristine_kenyon His name is Mnuchin. It’s all HIM.
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