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.
In September, a Home subcommittee on the coronavirus disaster discovered that billions of dollars in PPP loans might have been diverted to fraud, waste and abuse” via lack of oversight from the SBA and the Treasury. We are going to routinely post your remark and a link to the news story to your Facebook timeline on the same time it’s posted on MailOnline.
Lucy Deland, cofounder of online invitation startup Paperless Publish and companion at early-stage venture fund Inspired Capital, understands the nuance of constructing a board that is best suited to a burgeoning enterprise. One area of focus might be loans that came in just under $a hundred and fifty,000, a potential cutoff Congress has been contemplating for blanket … Read More