In October, the SBA released an easier forgiveness application for loans of $50,000 or much less, which encompasses about 71% of Illinois borrowers, SBA spokeswoman Andrea Roebker stated. As an example, in Seattle, KOMO News’ “Downside Solvers” invitations viewers to submit their drawback with a neighborhood enterprise, and generally the station will examine and provoke a decision.
The new data shows that whereas nearly all of Illinois borrowers obtained smaller loans — about 88% had been for less than $one hundred fifty,000 — the lion’s share of the funds went to the biggest borrowers. Among the more excessive profile, former Chicago Bears wide receiver Josh Bellamy was certainly one of eleven folks arrested in September and charged in a Florida federal court for allegedly searching for greater than $24 million in fraudulent loans.
The loan recipients vary from Encore Area Options, an East Dundee garage remodeler which obtained a $149,999 loan in April, to a dozen recipients who acquired $a hundred or less, according to the SBA data. There were 36 businesses in Illinois that received the maximum $10 million, together with the publicly traded Chicago-based mostly restaurant chain Potbelly, which returned its first $10 million loan in April underneath … Read More