The new information exhibits that whereas the majority of Illinois borrowers obtained smaller loans — about 88% were for less than $150,000 — the lion’s share of the funds went to the largest borrowers. Among the many more high profile, former Chicago Bears extensive receiver Josh Bellamy was one in every of 11 folks arrested in September and charged in a Florida federal court docket for allegedly in search of more than $24 million in fraudulent loans.
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JPMorgan Chase was the biggest PPP lender by loan value, issuing more than 280,000 loans price more than $32 billion, the bank mentioned. In November, a Washington federal judge ordered the SBA to publish detailed data for all debtors — including those who obtained loans under $one hundred fifty,000 — following a lawsuit brought by news organizations beneath the Freedom of … Read More