The loan recipients range from Encore Space Options, an East Dundee storage remodeler which obtained a $149,999 mortgage in April, to a dozen recipients who received $one hundred or much less, according to the SBA information. There were 36 businesses in Illinois that received the maximum $10 million, together with the publicly traded Chicago-primarily based restaurant chain Potbelly, which returned its first $10 million mortgage in April underneath public pressure, but then reapplied in August as demand and scrutiny waned.
In September, a Home subcommittee on the coronavirus disaster found that billions of dollars in PPP loans may have been diverted to fraud, waste and abuse” by lack of oversight from the SBA and the Treasury. We are going to routinely put up your remark and a link to the information story to your Fb timeline on the same time it is posted on MailOnline.
The government would also cover month-to-month mortgage payments for folks with non-public scholar loans till September 2021 and forgive $10,000 of their debt. If you’re trying to start your individual business in meals trade, then this can be one of the great enterprise ideas. In Illinois, the SBA accepted more than 221,000 loans price nearly … Read More
If you’re good tech-savvy, then you may think this as the most effective companies to start out in 2020. Invoice Phelan, co-founder and senior vice chairman of PayNet, a Skokie-based company that tracks small business commercial lending for the credit business, projects that about 5% of PPP loans, or roughly $26 billion, could finally show fraudulent.