Loopholes In Small Business Relief Program Allow Thriving Companies To Cash In

"For us to be able to increase our manufacturing capabilities, we thought that having this supplemental dollar amount or loan would be very helpful ... in helping us," says Gail Page, a Chembio board member and former interim CEO."When you get these pandemics, then there's all of a sudden this big rush and you need to be able to supply."

"The goal here isn't to expand the size of the companies," says Marc Goldwein, senior policy director for the D.C.-based Committee for a Responsible Federal Budget."The goal here is to kind of keep them alive while we get through this crisis." Page says it was totally proper for her company, which has gotten government grants over the years to work on testing, to take the paycheck protection money.

One problem with the first round of disbursements was that the law was murky. Sen. Rick Scott, R-Fla., expressed concern in a written statement last week that companies not harmed by the pandemic found loopholes and got millions of dollars in loans. Much of those loans will be forgiven by the government if they're used properly.

I wonder how much the companies Trump owns got?

What else would you expect from this administration?

No surprise. This administration doesn’t care about small businesses at all or the little people...rich get richer

Surprise surprise surprise 🙄

BIG Liberal media DEMOCRAT LIE : that President Trump called the coronavirus a 'democrat hoax.' The TRUTH : President Trump was referring to the democrats politicizing of the coronavirus, NOT the coronavirus itself.

BIG DEMOCRAT LIE: That President Trump claimed injecting people with disinfectants would cure them of the coronavirus. The TRUTH: President Trump made NO such claim and neither did he encourage people to ingest disinfectants.

The rich will get so much richer by the time everything recovers and the rest of us will be left floundering in debt

WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests? WHERE ARE THE 5 Million Tests?

Oversight provided by Donald J Trump. EPIC FAIL AGAIN

Never let a good crisis go to waste. Of course they'd use this to rob us blind. Again.

Breaking news: WATER IS WET!!

Could have been the point all along, no?

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Even The LA Lakers Got A PPP Small Business LoanThe Los Angeles Lakers — one of the NBA's most profitable franchises — have returned money they received from a federal loan program intended for small companies. More than 200 public companies are still holding onto money from the program. Sure do love them little ma-&-pa NBA franchises. Publicly traded companies have shares they can issue or various other ways to raise money this whole PPP Small Business Loan program is a complete fraud joke corruption whatever federalreserve Where can we find a list of these public companies?
Source: NPR - 🏆 96. / 63 Read more »

Large companies returning their small business loans amid backlash - Business InsiderPublicly traded companies are now required to return loans under the Paycheck Protection Program. Private ones like Sweetgreen are returning them too. Damn right
Source: BusinessInsider - 🏆 729. / 51 Read more »

'I just want to know who made the bad loans' — Cramer blasts small business loan programCNBC's Jim Cramer said Tuesday the names of the banks that approved small business loans to larger companies should be made public. Cramer just wants to talk Well most Americans still believe in Wall Street and the administration. Don't they? The guy to oversee the money was fired....
Source: CNBC - 🏆 12. / 72 Read more »

Lakers return $4.6 million loan they received as part of government's small-business programLakers return $4,600,000 loan they received as part of government's small-business program The Lakes actually applied for the loan. Perhaps that is the issue.
Source: YahooNews - 🏆 380. / 59 Read more »

Here are your options if you don't get federal small business relief - Business InsiderIf you haven't already applied for federal small business relief, you're probably out of luck on this round — but you still have a few other options.
Source: BusinessInsider - 🏆 729. / 51 Read more »