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Nearly four,000 companies in Illinois received loans of $1 million or extra, adding up to about $8.67 billion, or about 37% of the entire. Meaning about 7% of PPP loans have been forgiven. The Justice Department has charged 88 folks for alleged PPP loan fraud totaling extra $250 million nationwide, including a number of circumstances with Chicago connections.
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In October, the SBA released a less complicated forgiveness application for loans of $50,000 or much less, which encompasses about seventy one% of Illinois borrowers, SBA spokeswoman Andrea Roebker stated. As an example, in Seattle, KOMO News’ “Problem Solvers” invites viewers to submit their problem with an area business, and typically the station will investigate and provoke a decision.