The mortgage recipients range from Encore Space Options, an East Dundee garage remodeler which obtained a $149,999 mortgage in April, to a dozen recipients who obtained $100 or less, in response to the SBA knowledge. There were 36 businesses in Illinois that obtained the maximum $10 million, together with the publicly traded Chicago-primarily based restaurant chain Potbelly, which returned its first $10 million loan in April below public pressure, but then reapplied in August as demand and scrutiny waned.
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The new record consists of the names and addresses of nearly 194,000 Illinois small companies, sole proprietorships and nonprofits that obtained PPP loans of lower than $one hundred fifty,000. Multiple-third of the proceeds Illinois businesses and nonprofits obtained through the federal Paycheck Protection Program went to less than 2% of the state’s borrowers, in … Read More
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The loan recipients range from Encore House Solutions, an East Dundee storage remodeler which obtained a $149,999 loan in April, to a dozen recipients who acquired $100 or much less, in line with the SBA knowledge. There have been 36 businesses in Illinois that obtained the utmost $10 million, including the publicly traded Chicago-based mostly restaurant chain Potbelly, which returned its first $10 million loan in April under public stress, but then reapplied in August as demand and scrutiny waned.
The SBA previously released the names of greater than 650,000 companies nationwide that acquired PPP loans between $one hundred fifty,000 and $10 million — the utmost allowed under the program — however did not disclose the exact loan amounts for larger debtors or the identities of those that received smaller quantities. Individuals who don’t have time to attend full-time classes have started taking the net courses.
The brand new information exhibits that while the majority of Illinois debtors received smaller loans — about 88% have been for lower than $a hundred and fifty,000 — the lion’s share of the funds went to the biggest borrowers. Among the many more excessive profile, former Chicago Bears vast receiver Josh Bellamy was one of eleven individuals arrested in September and charged in a Florida federal court docket for allegedly in search of more than $24 million in fraudulent loans.